An Alabama property management referral fee is an excellent way for sales agents to make more money and to get loose from all the headaches that come with self-management. Partner with a professional, and earn a referral fee instead of trying to manage properties on your own. Today, we’re talking about some of the advantages to doing so.
Alabama Realtor Partnerships: Property Management and Liability
Some real estate agents want property management to be a side business. You might think you can manage a handful of properties for your clients. Being a sales agent, you have a special agent’s capacity, which is limited when it comes to liability. As a property manager, there’s a lot more liability to worry about. As a sales agent, you need to know fair housing and state law contracts. Once you get into managing property, you are liable for the property just as if you were the owner. City ordinance folks can come after you if you’re managing a property and get you to make things whole if something goes wrong. It does happen from time to time for property managers. There are a lot of other liabilities and insurance obligations that you have to cover. If you start managing property, you need to think about workers compensation and other coverage that people never think of.
Alabama Real Estate Sales: Do What You Do Best
In a special agent’s capacity, you don’t have to hire people to keep properties maintained and repaired. You have a lot less liability. Stay within the area where you make the most money and you can focus on your field of expertise. That’s the better way to go. Like everything, ongoing training and education is always necessary. This is true of sales and management. You have to stay on top of the changing profession. Whatever niche you get involved in, be competent and be the best. Have a strong alliance partner to manage your properties for you. It’s the best way to get the most money.