What is the difference between “Property Management” and “Real Estate Agents”?
“Property managers and real estate agents occupy different niches in the real estate world, although the former may work with the latter when a rental unit needs a tenant. You won’t need a property manager unless you have rental properties, but most people will enlist the use of a real estate agent when selling a home or looking for a home to purchase*.”
This definition is not applicable in Malaysia. In some countries, property managers work for landlord to engage tenant and manage rental properties. However, in Malaysia, the VAEP Act, 1981 makes it clear that engaging tenant, letting and leasing is under Estate Agency Practice.
Property Management is maintenance of the building and enforcing the terms in the lease contract. See S.22I(2) VAEP Act, 1981 (Amended 2017). Property Managers can advice landlord on what types of tenant to engage for a property – esp shopping mall, but cannot charge a commission in sourcing for a tenant for the landlord. Charging a commission for letting, leasing or renting is under “Estate Agency Practice”.
*Jane Meggitt; Updated December 02, 2018 What Is the Difference Between Property Management & Real Estate Agents? https://homeguides.sfgate.com/difference-between-property-management-real-estate-agents-1588.html