People who are changing the property management industry…

With economists predicting a drop-off in first-time home-buying, and an this quarter, it appears real estate agents will be playing a bigger role in YOUR industry. How so? With less buyers and more renters, some agents are now being sought after for property showings and assistance with getting leases signed.

So, what does this mean for those in the property management industry? Simply put: It’s time to step up your game.

While agents are very skilled at showing a property, they are not as invested as you, the property manager, when it comes to the process of selecting the right tenants. After all, a realtor’s sole purpose is to CLOSE a deal and collect commission – but your goal is more concerned in the long-term. You want to select the RIGHT tenant to do business with a for a year or more. You know that means looking at a deeper set of qualifications than having first and last month’s rent.

If a property owner comes to you and they are uncertain about hiring a PM or a realtor to help fill their vacancy, you have to show them ALL that you can do to service them in the long-term. Realtors can be amazing at getting foot traffic for a rental, and for that reason alone it should be a your priority to try and work with an agent on advertising, if at all possible and especially at the request of the landlord (who is footing the bill for both of your services). But, when it comes to the tenant screening, lease signing and overall running of the property – it’s up to you to show the property owner why you are the person for the job!

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