Real Estate Agents vs Property Managers: Key Differences

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Real Estate Agents vs Property Managers – Key Differences: A home they say is the resting place of a family, a building with a roof that harbor love and oneness, and a place we can always run back to after a long day at work. This is of course what a home should be all about. But what happens when you either need a new home or wish to rent or lease out your home, who do you consult a property manager or a real estate agent?

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Real Estate Agents vs Property Managers

This can be quite confusing, most especially if you are not conversant with the real estate industry. To make this easier for you, we will be sharing the differences between property managers and Real estate agents. With this, you will be able to know who to consult or hire for your property related issues.

Who is a Real Estate Agent?

Simply put, a real estate agent is a person whose primary assignment is to arrange the buying and selling process of a property between two interested parties. The services of this individual include advertising properties that are available for sale through the use of listing services, online advertisements, digital marketing, open houses, and online portals. He is more of an intermediary during negotiations between landlords and tenants and buyers and sellers.

Real estate agents also offer services that revolve around rendering professional advice on matters that revolves around prices, mortgages, the market conditions at a particular point in time, the laws attached to what you are about to do, and appraising the values of properties. Also, real estate agents make ensure that the property transfers go smoothly and things are done in accordance with the law.

Lastly, a real estate agent stops at nothing until both parties involved in the transaction are satisfied.

Also, Read: 8 Reasons Why You Need a Real Estate Agent to Buy a House?

Who is a Property Manager?

Unlike what has been described about real estate agent, property managers don’t take part any business transaction that involves buying and selling of an apartment. All that a property manager does is to lease and maintain a property, and ensure the satisfaction of the tenants that dwell there.

In a nutshell, property managers works for the owner of the property while still making sure the tenants get their general maintenance and repairs to ensure their satisfaction and protect the resale value of the property. The duties of a property manager also cover advertising the properties in their care to help find interested tenants.

Real Estate Agents vs Property Managers: Other Key Differences

Payment – In every of our work activities in life, financial gains to be attached to it. The same goes for both real estate agents and property managers. The difference here is with the ways they get paid. For real estate agents, it is simply a transactional business(they are paid a commission when a property is bought or sold). While property managers, on the other hand, collects payment on a contractual basis.

Timeframe – For real estate agents, the contract ends immediately the property is bought or sold. While for property managers, it continues for a specified period of time according to what was agreed on the contract.

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