The real estate world is often a busy one and it requires people with different hats to operate smoothly. Both property management and real estate agents are a necessity in the business, but both have different areas of expertise. Real estate agents sell properties and property managers work to maintain the properties.
Real estate agents must go through a strict standard of training to be licensed for the sale of real estate. Their main job is to utilize their skills and knowledge to bring the buyer and seller together. They must be proficient in both their communication and negotiation skills.
In most states, property managers are required to have a license as well. Their job is to maintain the property to a standard set forth by the property owner and one that will also keep the tenants satisfied. They, too, must have good communication skills and be able to maintain the property under the budget given to them. They may also be required to market the property and collect rent.
Real estate agents earn a commission-based income. If a property does not sell, they will not get paid. The property could sit on the market for over a year and the agent may have a lot of hours invested, but if it does not sell, they are out of a commission. On the other hand, property management generally earns a fee-based income. This income could be a monthly rate or they could charge by the task.
A real estate agent is the one to seek assistance from when you want to buy or sell a property. They will have knowledge regarding all of the available properties on the market and their value. You will want to contact someone in property management when you wish to rent the property and need someone to handle all of the details of the property, including its upkeep.
The roles of property management and real estate agents are different, but you will often find the two working closely together in real estate matters. A real estate investor may contact the real estate agent to buy or sell a property, but the property itself is managed by another and he or she will be the one to set up showings or provide the details to the agent.
