Looking to do property management... what brokerage firm to join?

[Vlad Krokhmal]

Hi guys,

Was hoping to see what biggerpockets members suggest I do as a newly-minted licensed real-estate broker who is looking to start in property management. In north carolina, you need a broker's license to do property management, so I just finished getting the license. However, before I can be a broker in charge and run my own show (my eventual goal), I need to work for at least two years under some brokerage firm. Should I work somewhere like exp or keller williams given that these brokerages don't specialize in property management? Should I look for some smaller property management firm? Would a property management firm even take me, considering I would be their competition once the two years pass?

Thanks for all the advice!

[Vlad Krokhmal]

Quote from @Nathan Gesner:

1. The only people that can truly answer your questions are the local brokerages. Call around to see who is willing to take you on.

2. I think it's a mistake to start PM from scratch on your own. You probably don't have experience managing rentals for others. You don't have the forms, processes, marketing, software, and other tools a professional would have. 

As already stated, many real estate offices will not allow property management. Others don't want to touch it because it's completely foreign to them. Others will reject the idea because you can't produce an income for their office and will likely be a taker, not a maker.

My suggestion is to get a job with an established property management company. You'll get a nice paycheck immediately, and you'll learn more in two years working for them than you would struggling to build a business on your own. Once you've proven yourself for a couple years, then you will have everything you need to step out on your own and build a sustainable business quickly.

I have some experience managing my own properties and some seminars I've attended, but you are right, there is a lot more to learn. You are right, it probably does make sense to spend the next 2 years learning more before diving in myself.