Do I need a property manager or a property agent?
What sets a property manager apart from a property agent?
When do you need a property manager or property agent?
Not sure? You’re not alone.
The whole of real estate can be daunting and difficult to understand. Sometimes, you might end up hiring the wrong professional to take care of your property needs.
If you’ve ever wondered whether to hire a property manager or property agent, this quick guide is just for you.
What does a property manager do?
Generally, property managers focus on the operational performance of a property.
In simpler terms, their top priority is maintaining the state of your property.
Some property managers in Singapore include Jones Lang Lasalle (JLL), Abacus, and BUTLER.
Property managers can be hired to oversee all sorts of properties, from modest private residences, to the largest shopping malls.
Some responsibilities a property manager typically has include:
- Maintaining accounting records and preparing monthly statements
- providing advice on budgeting and expenditure
- providing advice on administering property
- evaluating and inspecting property infrastructure
- supervising contractors during renovation or repair to ensure standards are met.
- Ensuring property compliance with key construction standards, such as the Buildings Maintenance and Strata Management Act (BMSMA)
- making recommendations on improving a property
- securing property insurance against potential risks such as fire.
In certain cases, a property manager may also oversee security solutions for a property, as well as evaluate vendors providing such security solutions.
What about property agents?
Unlike property managers, property agents focus on property transactions instead.
These are individuals or entities responsible for arranging the sale, purchase or rent of your property.
Property agents in Singapore include Propnex, ERA Realty Network and SLP International.
In Singapore, all property agents are registered with the Council for Estate Agencies (CEA). Before engaging the services of any property agent, it’s recommended to first search CEA’s website to check if your agent is registered with them.
Naturally, a property agent will have a different set of responsibilities from property managers. These include:
- Providing advice on your eligibility to buy, sell or rent a property
- Providing advice on your property loan options
- Providing legal and administrative guidance throughout the transaction process
- Arranging property viewings
- Representing you in property price negotiations
- Keeping you informed on all offers from potential buyers/sellers/renters
- Offering insight into your property value, usually via a comparative market analysis
So, a property manager or a property agent?
Simply put, property managers oversee a building’s condition, while property agents are in the business of transacting property.
You should hire a property agent if you’re looking to buy, sell or rent property.
If you already own a property (or a portfolio of properties) and want a professional to oversee its condition, you should hire a property manager instead.
BUTLER keeps your properties in top form
Owning a spacious abode in Singapore is a privilege – but having to look after it is a bigger headache for most.
With BUTLER’s finest property management services, enjoy the luxury of a sophisticated home without the hassle of maintenance.
Simply leave your property in our expert care, and come home to effortless convenience every day.
Start your experience with BUTLER property management today.