This article entails information about property managers and real estate agents in the simplest yet amazing way. We come across situations in daily life where we consult real estate agents, hire property managers or choose to become either of these. Let’s find out the property manager vs real estate agent difference.
Who should you hire to put your house on sale? Who should you hire for collecting rents and maintenance of your property? Is there a proper degree to become a real estate agent or a property manager? Who shall opt for becoming a real estate agent or a property manager? What are the pros and cons of both? All these questions will be answered in the article to figure out the answers you are looking for.
Property Manager Vs Real Estate Agent
Ever got involved with a property manager or a real estate agent? Are you one of those who use these different terms interchangeably? Or maybe you are a new entrepreneur who believes in investing wisely and carefully in hiring employees?
Anyways, one of these or someone whose mind is swarmed with other confusions like the ones mentioned earlier, then you landed on the correct article.
This article will explicitly discuss the difference between a property manager and a real estate agent, which are considered not so different by a bigger chunk of the general public. Moreover, the similarities between both professions will also be highlighted, leaving no room behind for any sort of major or minor confusion.
Difference between a Property Manager and a Real Estate Agent
In general, a manager is involved in planning and execution, whereas an agent is responsible for carrying out either of these two things. Below, we have highlighted a few things which will get all your queries solved regarding property managers and real estate agents. Have a look;
Core job differences
Property managers look after and take care of the property for their clients. They manage the property on behalf of the owners. At the same time, a real estate agent is not responsible for taking care of the property. He/she could earn by assisting people in buying, selling, or renting properties.
Property managers are third parties contractors hired by people to get their property managed according to laws and regulations of the state since laws concerning the property vary from country to country. Besides, they tend to perform a set of responsibilities which include;
- Daily management of the property
- Repair and maintenance of the property, such as removing snow, etc.
- Planning out the budget for maintenance and repairs
- Collecting rent
- Advertisement for renting properties
- Drafting agreements concerning renting and other things.
Types of Property Managers
There are mainly two types of property managers. They are;
Onsite property managers
As the name suggests, onsite property managers live on the actual property and perform all their duties, including paying taxes, collecting rents, fulfilling the requirements via proper documentation, etc.
Offsite property managers
They work remotely or handle the tasks by virtual means and mostly work with real estate agents, managing multiple properties for those who seek property managers. They mostly work via computers and maintain records of the properties appropriately.
Should I become a property manager?
If you have the needed leadership skills, you should opt for this profession. Since it’s a high-growth industry, you may end up being a successful manager in this industry. But at the same time, this requires a lot of physical, and mental exertion and constant attention.
Real Estate Agents
The primary difference between a real estate agent and a property manager would be the responsibilities, perhaps. A real estate agent mainly works from an office or home as well. His work includes frequent visits to various properties since he sells or rents properties. They are offered some percentage of the rent in exchange for their services. Real estate agents must have good communication and selling skills. Some of the duties of a real estate agent are given next;
- Advertising and marketing of properties.
- Meeting clients
- Visiting different locations
- Perusing people to buy or sell their properties
- Creating material for advertisements etc.
Property managers earn by entering into a contract with their clients or property owners. Although it’s a commission-based job, those who manage to pave their way higher in this industry tend to charge a basic fee as well.
Should I become a Real Estate Agent?
If you have good communications skills, relative business background, a license, and the needed potential and persistence, you may have the chance to excel in this profession.
You might face challenges such as low earnings, finding clients and setting foot in the market, etc. Like any other business, you need to have contacts and marketing insights to move up the ladder—those who fail to understand the market end up failing in this field.
The table below illustrates the major differences between property managers and real estate agents for you to easily understand:
|S. No.||Real Estate Agents||Property Managers|
|1||Help clients buy and sell properties||Look after the property and responsible for leasing|
|2||Handles sales, rentals, and purchases of property||Focus on properties available for rent|
|3||Transactional business||Contractual business|
|4||Work from home or office||Onsite and offsite managers|
Frequently Asked Questions
What is the difference between a real estate agent and a property manager?
A real estate agent is responsible for the sale, purchase, and rent of a property, whereas a property manager is supposed to take care of the property daily, collecting rents and carrying out paperwork as well.
Is a real estate agent’s job commission-based?
Yes, a real estate agent gets his/her promised commission on the sale or purchase of a property.
While should I hire for putting my house on sale?
A real estate agent would be the ultimate answer since he/she has content and is involved in buying and selling different properties.
Do real estate agents make more than property managers?
Depends on how well the real estate agent or the property manager performs their tasks dutifully.
Can real estate agents also work as property managers?
Not if they do not have the license for it.
This brings us to the end of our discussion about property managers and real estate agents. And it must have resolved a lot of queries running through your mind. The discussion concludes that both these professions are significantly different and teach a distinct set of duties and responsibilities.
We hope that you must have developed a better understanding of both the topics under discussion by now. If you ever get to a point where you have to hire a property manager or a real estate agent, then you know exactly what to go for in case you have confusion in your mind because this article will surely get them solved. Hope you have learned about property manager vs real estate agent.