You have a great Real Estate Agent! They are AH-MAZ-ZING!
Your agent has been able to go above and beyond for you on so many occasions, that they are YOUR real estate agent!
So, now that you have purchased or inherited a rental property, who do you turn to...YOUR AGENT!
STOP!
While that all sounds phenomenal, are you 100% sure your agent can legally assist you in your property management needs?
Wait, what? Why would your agent not be able to help?
You see, not all real estate agents are legally able to assist you with your property management needs, or even find you a tenant! Investors and the public often interchange the terms “property manager” and “real estate agent.” Though they work in the same "real estate" field, property managers and real estate agents are not the same.
It all depends on the firm they are affiliated with their property management knowledge, and their understanding of NC Landlord-Tenant Law.
Real Estate Firms are different from property management companies. Your agent, as fantastic as they are, may not have the authority to practice property management within their real estate firm. Not all real estate firms practice property management and may not have the proper insurance for their agents to even help you find a tenant and the liability of working with a real estate agent that does not legally have the authority, can have a spiraling effect on not just you or your tenant, but the agent and the firm the agent is affiliated with.
Make sure your agent is legally authorized, by their real estate firm, before you hire them to handle your rental property or to find a tenant for you.
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