Should you offer property management services?
If you’re a real estate agency or you manage buildings, you might be wondering what you can do to retain your customers and make them happy. The answer is simple: offer them property management services. In this blog you’ll find out why this is a great idea and what services you can offer.
Why should you offer property management services?
Property management is tightly tied to real estate. In fact, some countries require property managers to get a real estate license before offering property management services. These are some of the reasons why you should also do it:
It retains customers
You might have found someone their dreamed second home, now what? They could give you thanks and move on with their lives. If you also offer them property management services, you’ll be working with them and they will consider you again if they need to buy another property.
It helps you get referrals
A happy customer is the greatest marketing machine ever. After their purchase, you could make them feel even better if you could solve another problem for them: what to do with their second home. Offering them a solution in the shape of property management services could make them recommend you to their close ones.
It makes your business look more reliable
Offering more services can make your business look more trustworthy and reliable in front of your potential clients.
So, if you’ve decided it’s a good idea and you would like to start offering the services, the question that remains is this one: should you do it, should you hire someone or should you partner with a property management company?
Advantages and disadvantages of managing the properties yourself.
Managing the properties yourself could look like a great idea and it has its advantages. You can earn more as it’s another line of business. Although there’s some problems that come with it:
- You don’t have the experience and the knowledge of property management. That could lead to making many mistakes and ending up losing more than earning as you don’t know how to make it work and make profits.
- You could spend too much time managing the properties and neglecting your other duties, not focusing on what you’re already good at: real estate or managing buildings.
Advantages and disadvantages of hire someone to manage the properties
Hiring a person to manage the properties of your clients could be a great idea if you already have properties to manage. If you’re just starting, it could become a loss before starting to profit from it.
Advantages and disadvantages of partnering with a property management company.
Partnering with a property management company could mean earn less than the first too options, but it could become the best option if you’re a real estate agency or if you manage buildings for the next reasons:
- A property management company has the experience and the knowledge you lack. They have been in the business for years, so they know what to do with every emergency or situation that arises.
- Trusting a company with your property management services could also mean you can focus on doing what you’re good at, knowing your clients’ needs are being taken care of.
- Partnering can still bring you profits. If you partner with a property management company, you can still earn a percentage for doing almost nothing while making your clients happy.
Do you want to partner with a property management company? Contact us.