Property managers vs. sales agents

Working together--rather than against each other--benefits everyone.

When discussing property management, one important issue is the relationship between property managers and sales agents when a rent house is put up for sale. It would be easy to set up a scenario of property manager vs. sales agent. In order to encourage the most pleasant relationship and the smoothest transaction, I urge all sales agents involved with marketing leased properties to respect and honor the underlying written contracts with the resident.

This is where the challenge often begins for property managers. Rodney Dangerfield could have been our spokesperson, as many of us feel we don't get any respect-no respect at all.

Every week, a resident bound to a long-term lease contract calls to tell me he or she has contracted to buy a home. As a property manager, my fiduciary responsibility is to my client to see that the rent continues. So a closing on a new home for this resident may not be possible if I'm contacted by the mortgage company.

Selling agents should first review the lease agreement signed by a prospective client who is currently renting to see how long until the resident can legally move. Perhaps this should be the most important qualification and not passed over as "don't worry, all leases can be broken."

Property managers constantly have to remind selling agents that a replacement resident satisfactory to the owner must be found for a resident bound to a lease agreement. That is the only way a lease will be terminated early for a future homebuyer-if the rent is covered for our client. We are all very serious about this legally binding commitment that was made when the lease was signed.

Showing leased property

The next challenge facing property managers concerns the showing of our leased rental homes. Who is responsible for obtaining the critical, required resident keybox or lockbox addendum? What conditions and mutually agreed showing instructions will be in place during the sale and promotion of the home?

Sales agents need to sit down with the resident and explain how showings will work and to get the keybox addendum signed. They need to make a relationship with the resident and even consider offering an incentive for cooperating with showings and keeping the home looking sharp. If not, agents may encounter an uncooperative situation that could very well prevent any sale.

The marketing and sale of the home is the owner's right, but a mutual respect for the resident should be considered an essential element during the sales process of any occupied home.

Working together

Knowing the property manager will be out of a job when the home sells, it would also make sense for the selling agent to do everything possible to respect the property manager's position in this scenario. We are not responsible for obtaining addenda, meeting inspectors, and arranging for all aspects of the new buyer's transition. Let us all work together to avoid an adversarial relationship of property manager vs. listing agent.

Buyers & sellers, visit www.texasrealestate.com.
REALTORS®, visit www.tar.org.