Differences between an estate agent and a property manager

We explain the functions of each and how they can help you.

It is quite common for people to confuse real estate agents (who, among other things, will help you to sell your flat o rent your home) with property managers. But they do not have the same profile, nor do they carry out the same activities. In this post we are going to detail the differences between a real estate agent and a property manager, what functions each one has and how they can help you according to your needs.

What do estate agents and property managers do?

So what does an estate agent do, and what about a property manager?

Functions of a property administrator

The property manager is an expert who is responsible for providing consultancy homeowners and to carry out administrative services for the community. The range of options is wide and, depending on the contract you sign and what you are asked to do, you will do one thing or another. In general, we can say that he works in the following areas:

• Management and conservation. Property administrators are responsible for taking the necessary steps to ensure that the building is kept in perfect condition. This area includes: the contracting of supplies and common services, the control of breakdowns and accidents, reports of theft or acts of vandalism in the property, etc. 
   
• Economic tasks. This is one of the most demanded functions for administrators, as they are mainly in charge of invoicing community fees (such as electricity and water), claiming outstanding bills, managing community funds and enforcing the agreements reached at the residents' meetings, as well as providing advice on any legal or judicial aspect affecting the community to all residents who request it. A very necessary activity if, for example, there is some kind of construction defect in the building.
   
• Secretarial area. A community needs a good secretarial service, as there are many things to control. In this sense, for example, the property administrators are in charge of sending the notices to the residents' meetings. They also attend the meetings so that the minutes can be taken and, in this way, can be sent to all the neighbours at a later date. The property administrators must keep the minutes book for at least five years, as well as updating and safeguarding the community data. They are also responsible for signing the certificates associated with possible debts.

As you can see, property managers are real all-rounders, which is why it is so important for a community to hire a good manager. Otherwise, problems will pile up over the years. We know of many communities in which "Troya almost burned down" because of the administrator.

Therefore, when hiring a property administrator, do not only look at the price of their services, but above all at their experience and solvency as a professional.

Duties of an estate agent

A real estate agent, as opposed to a property manager, is the expert who mediates, manages and negotiates all types of real estate transactions.. For example, in the rental, sale or transfer of real estate.

For this reason, a good real estate agent should be a a highly organised and well-planned person who can plan his/her tasks well. It is vital that you are able to differentiate between what is important and what is not so important in order to prioritise your actions. In addition, you must be decisive, as you will have to make important decisions in short periods of time.

Where does the confusion between estate agent and property manager come from?

What are the differences between an estate agent and a property manager? Now that we know what each of these profiles do, it is curious that some people confuse them. Especially because their functions have nothing to do with each other. Perhaps this problem arises because, in some real estate agencies, a single person is in charge of offering both services to their clients.

What do you have to study to become an estate agent?

Can anyone be an estate agent? Is it necessary to study a degree in order to pursue this professionally?

Although it is a profession that is poorly regulated in Spain and where there is quite a lot of intrusiveness, it is gradually being achieved. It also depends on each Autonomous Community; in Catalonia for example, it is compulsory to be registered in the AICAT registration in order to be able to exercise. Membership of the Colegio Oficial de Agentes de la Propiedad Inmobiliaria as an API is not compulsory.

Is it necessary to be a member of a state association in order to work as a real estate agent? The answer is no, because since 2000 the sector has been liberalised and since then anyone can work professionally in this field, but to become an API in Spain there are a number of requirements to be met.

It is curious that some people confuse the two, perhaps because in some real estate agencies, one person is in charge of offering both services to their clients.

It is not necessary to have any special qualification or certification, but it is advisable to be a member of a professional association for a better development of the work. The work of a real estate agent requires continuous training in different areas, which is why it is important to be as well supported as possible.

And what are we at Monapart? ;D If you want us to help you with the sale or the rental of your home, do not hesitate and contact us. We will be happy to lend you a hand throughout the whole process. Because doing it alone is much more boring...