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Why Does The Real Estate Industry Look DOWN On Property Managers?

It's sad to be aware that the same industry that doles out REALTOR® licenses is the very one from which frowns upon it's own members!!! We hear what you say about us Property Managers.... "OH, you deal on the low end!!!" Why has such degradation become synonymous with practitioners managing property???

We come from the same beginnings to get our professional orientation, and must abide by and do the exact required continuing education, pay the same amount of dues, and still get rejected by YOU as though we are the scum of the earth!!!

Are not we servicing the SAME client?? Do not MOST buyers have their beginnings as a renter? Do we have to continue to suffer disgrace from our own colleagues as if the origin of and the contamination of the HINI Plague began with US!!! It is a SHAME!!!

In addition to fulfilling the mandatory education, MANY of us go on to earn costly designations through respected professional associations as CPM. GRI. NARPM. MPM. PPM. E-PRO. RPM. etc. How many vowels and consonants behind our name must we acquire to be allowed to sit at the table with YOU???

People..... we are assisting the IDENTICAL customer!!! A person who lives somewhere, whether they rent for a season and purchase later, or if deciding to never own.... is still a patron!!!

Has it come down to factoring based upon a measly penny??? Are we announcing to the public that ONLY top producing Sellers and Listers are worthy to be esteemed??? If so, we have sold ourselves cheaply!!! We are painting pictures to the generation after us, that they should pattern after those who successfully make the biggest bucks from placing the SAME CLIENT in a 30 year lease that WE PREVIOUSLY SERVICED!!!

And, it will be US..... the lowly Property Managers who are the ones who will faithfully take them back in when they get evicted after they fail to live up to the terms of the contract which went with the "DREAM HOUSE" YOU placed them in!!!

When the illusion if over.... WE will still be there for them... will YOU???

Posted by Diane Rice, SFR on 11/13/2009 12:01 PM

Comments (31)

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31 Comments on Why Does The Real Estate Industry Look DOWN On Property Managers?

NOV

2009

I was COMPELLED TO WRITE THIS, after being disgusted with how Wallace Gibson, a fellow property management professional who is an excellent contributor was treated when she shared about her experience at an E-Pro class We property managers have been feeling this brunt a long time.... so EXCUSE me if i am sounding a bit angry.... I AM!!!!

Diane,

It is the top producers who are crying at the beginning of each month if they don't have closings lined up, while the property managers are quietly going about our business, depositing the monthly rents (ie steady income) and enjoying life knowing we are helping someone!

We help the renters for a couple of years earning money off the rents, then we sell the renters a home and earn EVEN MORE money off them....I say we are "top producing" and smarter...!!

Maybe in our small town of Murphy, NC I'm oblivious to this. I know how much, especially now in this economy, that people are desperate to find a home to rent. Property Management is vital and I wish we could provide that service to them. We receive many calls from people on our listings wanting to rent ot rent to own, but can't come up with the down payment. We believe we're here to serve the needs of others and Property Managers are certainly filling those needs too.

Diane, I am sorry your feathers were ruffled and someone has behaved poorly out there! I, personally, have a quick list of property managers (including apartments) that I refer folks out to...you are right, we all work hand in hand in this business called real estate!

I can't imagine why people would feel the need to be judgmental with other professionals. I am so sorry that people have been treating you this way. Rest assured that not all of us feel this way and that there are many of us who have nothing but respect for the job you do. I have done many rentals so I understand some of what goes into the rental and management process.

Nice post, Diane.............. I have not had the experience you have talked about..... YET.....

I am sure some time it will happen...... I will brace for it and prepare.

There is a pecking order in some agents minds even when it comes to the prices and conditions
of homes they will deal with.

Ego is a terrible thing to love....

;-)

Diane, I have never looked down on property managers, but I suppose some think they are better like all things in life, exceptions.

Diane, I am surprised to hear this...If it's going on here, I'm not aware of it at all. I too am sorry some people seem to be feeling superior on here, I believe we're all equals in the rain (and hopefully OUT of it as well)!

Diane, I did not realize that there was an issue between Realtors on this. I guess I have not been paying attention, or maybe I should just keep on ignoring it :)

NOV

2009

Tracy: Right you are about that.... however, this nag has been bothering me ever since Wallace's post..... so it was screaming to get out!

Carol: Yes, Property Management is definitely a vitally needed service for today's times. Good to hear the PMs are unaffected by this in your area. In retrospect, i could have reworded the post to direct questions to PMs exclusively.... but, the fueled up determination in me at the time took precedent over that consideration.... My defense mechanism kicked in after reading and seeing what some of the PMs have to put up with.

Jane: I feel much better now.... thanks for the soothing balm and band-aid....

Stacey: I appreciate your outlook and know that it is not coming from EVERYONE in the industry, but we do sense a disdain from many and have learned to accept it of course... without saying anything... until....

Alex: give it a little time... and keep eyes open widely...

Gary: You know, there are folks as yourself who carry themselves with focus upon their own objectives and know that negative prejudices would drain from their OWN energy levels... leaving them ineffective! You walk in a much higher realm and cannot afford to stoop that low.

Carole: Thank you for your sensitivity and kindness shown to my rant... your defense is precious.

George: You'd have to BE in MY shoes... which your feet do not fit. As usual, your support is appreciated.... We all have to endure some things... this is one we PMs have to overcome.

Property Management is the THIRD oldest profession and we are OLDER than sales agents. Property management started when the landowners and their eldest sons went to the Crusades and SOMEONE had to be named to MANAGE THEIR ESTATES. In the UK, they are still called ESTATE AGENTS.

I suspect that over 45 years, I have made more $$$ than 99% of the real estate agents active at the same time.

Wallace!!! Great history!!! YOU should write a post of this! PLEASE!! It would be an awesome eye-opener for me as well as others in or out of the profession!

NOV

2009

Diane * I'm SO OLD * I remember it well!!!

People often think that property managemet was born when we started building urban areas with high-rise/elevator buildings. Property management in some form has been around for hundreds of years.

I just finished the book on the one of the oldest/most elegant co-op buildings * 740 Park Avenue * starting with the developer * Jackie O's g'father * and the various apartment owners and tenants. The integration of the building owners and management firm was eye-opening!!!

Wallace, we'd be so honored to read your writings with your experiences and insights... you could do a series here to enhance the PM group!! Glad you are OLD enough to put us all in remembrance to where/how PM originated! Thanks for the book referral.

We saw this a lot when we started our own office. The put-owns. we don't see it as much now that a lot of sales agents are having to do something else to make a living, while we're doing well (thank you very much). What we find is resentment that we do BOTH sales and rentals, but that is a lot of why we started our own office- so we COULD. We're the only office in town where the same agents are experienced in both, and often list a house "for sale or for lease, whichever comes first".

I forgot to ask- Wallace, if we're the THIRD oldest profession- what's the second?

"It has been said that politics is the second oldest profession. I have learned that it bears a striking resemblance to the first." Ronald Reagan

Leslie: I usually IGNORE the put-downs, but they ARE THERE! I was reignited when Wallace shared her story. We have Brokers asking us HOW to get started in PM.... a few would like to refer us to their interested sellers who want to rent the places they USED to list, but pride will not let them.... we get some of them AFTER they drop their listing agents. With you being full-service as we... you can get more than your share of the business!

Wallace: yeah! We BOTH wanna know... what IS the SECOND oldest profession??

NOV

2009

The Mustang Ranch may not be HISTORIC; however, it does promote the SECOND oldest profession.

Wallace: you mean, this place?

I had to look it up, for i had not heard of it!

Diane, I know you've gotten many comments like this, but had to add my two cents. I too am not aware of the the bad rap that PM's get. We are all in this together too much so to be judgemental. I work with a lady here in the office who's a PM and we work great together. I think I also told you once before that I have a close friend in Chicago who's a PM and I completely respect what she does.

I know that Iprobably didn't need to comment, but just wanted to let you know that the ones you directed your rant at are in the minority...at least in my opinion.

What - what rock have I been under. My take is property managers have to put up with a lot of you now what - and have got a gazillion details to handle. A good property manager is essential to a team for goodness sake. Hello - where are you folks going to now - to manage the mustang ranch??? LOL.

Rant away baby and by now I bet your feeling much better!!

Nick - your words are soothing and kind... it was WALLACE GIBSON's experience that got me rattled. I did not like how she was looked down upon as she expressed on her post.... appreciate your support!

Anna - PMs have huge responsibilities... and yes, ranches are possible.... Feel better? With your help, yes i am! thanks much!

NOV

2009

I've had this happen between agents who've consistently sold in the high end and others who work the lower market. This market we have now have humbled several people. I do understand your oain.

Diane, my daughter graduated with a degree in Property Management and with her CAM designation. She has to put up with a lot of 'stuff' in her position from tenants that don't remember the terms of their lease to brokers showing the apartments. She has to let it roll off her back. The company records show she's making a difference for the owners and the residents love the activities she's brought to the community.

NOV

2009

Debbie * KUDOS for Kat!!! Property Management has been very good to me. Hard work and I enjoy making my own hours AND there are rewards after all of the BS!!

Robert: I'm fine with it... it's what I SEE happening to others that ticks me off! Pray for me?

Debbie: That's wonderful Debbie... she is earning respect from her actions, experience, and professional attitude... WE ARE SO PROUD OD HER! Of course, i was speaking of viewership from the Real Estate agent's position.

Wallace - You already know you are ONE of my heroes which is why THIS POST was made after the treatment YOU received!

NOV

2009

Diane property management is a very responsible job, I bet many agents would not be able to cope with the position. Anyway don't let anyone ruffle your feathers, not worth the time or energy....lol

Hi Jennifer... it's all good... had to let it out... Have a nice Thanksgiving!

DEC

2009

Diane, It can be frustrating that folks used to look down on the property management side of real estate. Although, now I am getting phone calls from a lot of other agents asking how you do leasing and property management. I appreciate that it a recurring revenue stream, as you never really know what your sales numbers will be. All the best, Michelle

Hi Michelle! Our profession is gaining honor isn't it? Thank you so much for the well wishes! You should join our Property Management Group!

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Diane Rice, SFR

South Holland, IL

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Diane Rice, Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL

Address: 423 East 158th Street, South Holland, IL, 60473

Office Phone: (708) 862-7423

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