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

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!!!

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

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

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!!

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.

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!!

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

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