PM acting as your Broker?

[Zach Hoereth]

During the last week or so I have received an influx of private messages about whether or not one should be using their property manager to write up offers/essentially serve as their broker. I have spoken with a number of people about this and I continue to have mixed feelings. What I have witnessed is investors are sometimes nervous that if they do not use their PM to write up offers they will not take on the management. In other cases, I have found that some PM companies like to focus on just the property management itself. They have preferred or designated agents that are "investor friendly" and will happily work with them. ("Investor friendly agent" is a whole different animal that I have addressed in another discussion)

There was a recent ordeal in my market with a once popular property manager who has found himself in a difficult position after misplacing some security deposits and December rent. I do know that this pm was acting on behalf of investors as their broker. In the end, things did not turn out well. Perhaps too much on one's plate...?  I suppose juggling brokerage transactions and property management can be rigorous, but with the proper systems maybe it can work.  

Personally, I have only once used a pm to write an offer for me. Nothing came from it, but I did this to build the existing relationship. I understand why investors may want to do this to help further rapport with their pm for future growth and success. However, this poses the question... should your pm be writing offers for you or focusing on just property management?