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Fred Glick from Glick Watch explains the importance of real estate management. He emphasizes the three main parts of the rental cycle: showing the property, renting it out, and turning it over after someone moves. During the showing phase, he recommends having a rental application, lease agreement, move in/move out form, and ensuring all applicants over 18 apply and undergo background and credit checks. Glick stresses the importance of complying with federal, state, and local laws in managing real estate.