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Experts Speak Out
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Putting a Face on Real Estate since 1995
www.myRealtyLine.com
January 2012
33
Commentary By Terry Godbold • Reliable Prop. Mgmt.
Never allow an owner to micromanage the management of their property
P
roperty Management, as I am sure many have heard, is one of the most litigious areas of real estate. Having been in real estate for almost 30 years, one of the first lessons learned, after the importance of location, is to never allow an owner to be a bully or micromanage. Allowing this scenario is a recipe for disaster. As an example, a prospective owner requests information about services. After about 20 minutes explaining your services, you hear crying. The essence of the prospective owner’s conversation was that a REALTOR who was not a professional property manager had treated her almost criminally. She says that property management is easy; just collect the rent. Ms. Prospect says that she did not know that there were professionals in the property management field and immediately wants to make an appointment. Ms. Prospect states that she wants to be a hands-on owner. She wants to give permission for each maintenance issue and
suggest the vendor personally interview each lease applicant, meet with you at least twice a month—in your office—to be “brought up to date on the tenant and the property.” She wants you to accompany her on monthly inspections and she wants you to, of all things, reduce your fee and give her any late charges you collect from the renter. Sounds crazy right? If you run into such a situation, here’s an approach that works (most of the time). See if you can illustrate, in terms they understand, how their request is unreasonable. Here’s how. First, ask her what field she works in. For the sake of discussion, let’s say she says she’s a stockbroker. You say, “Well Ms. Prospect, would it be appropriate if I oversaw each one of the transactions you made for me making sure that where you invested my money was to my satisfaction? Could I audit your accounts on a twice a month basis? Would you accompany me on an inspection of each of the companies in which you invested my money? Would you reduce your fee for this extra service?” RL
Drees Custom Homes hosts a REALTOR Appreciation party at Soleil at Lake Travis where Sherri Teepen and Liz Ott, both of Keller Williams Realty meet up.
Submitted Photo
Don we now our gay apparel, fa la la la la la la la la. Michelle Busby of Keller Williams Realty, Lisa Altamirano of Gracy Title and Teresa Stamper of Keller Williams Realty get into the holiday spirit at the Gracy Title Holiday Open House at its Cedar Park location. Buy photo: RL_011012_C.JPG at www.myRealtyLine.com
Karen Williams of North American Title shells out some cash for this tree at the WCAoR “Deck the Halls” Christmas Tree Gala benefiting the WCAoR Scholarship Foundation. She shows it off to Anne Cano of Realty World, Neal Barnes & Associates. Buy photo: RL_010112_I.JPG at www.myRealtyLine.com
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810 HESTER’S CROSSING, STE 150 | ROUND ROCK, TEXAS 78681
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