eXp Realty as a side-business

[Jordan Bowley]

Hello fellow BP bloggers,

Brief background:

I am relatively new to the real estate world, and have decided to dive head first not only with investing but also with changing my professional career. 

I am still active duty military, and have the opportunity to do OJT for a few months before I get out. I have already started my pre-licensing course in NC and am formulating my plan to ETS.

I am leaning more towards property management, in fact I want to try and work for a PM full-time while I earn my full brokers license in NC (2 year requirement).

My end-state is to start my own PM company to manage my own investments and other investors portfolios in my area.

So now to my question(s):

In regards to eXp Realy, do they have a non-compete or anything in their agent agreement that would prevent me from doing PM while attempting to work as an agent in the evenings/weekends? Their business model seems attractively suited for a smaller operation that wants to work part-time while working other fields in real estate.

Additionally, does anyone with more experience than myself "probably 90% of bloggers on here", have any recommendations or nuggets of wisdom towards trying to do something like this part-time beyond which specific company I try to work under?

Lastly, are there any other companies out there that would be good to look into in order to try and do sales part-time?

Thank you all in advance for any assistance!

[Chris Mason]

Originally posted by @Jordan Bowley:

Hello fellow BP bloggers,

Brief background:

I am relatively new to the real estate world, and have decided to dive head first not only with investing but also with changing my professional career. 

I am still active duty military, and have the opportunity to do OJT for a few months before I get out. I have already started my pre-licensing course in NC and am formulating my plan to ETS.

I am leaning more towards property management, in fact I want to try and work for a PM full-time while I earn my full brokers license in NC (2 year requirement).

My end-state is to start my own PM company to manage my own investments and other investors portfolios in my area.

So now to my question(s):

In regards to eXp Realy, do they have a non-compete or anything in their agent agreement that would prevent me from doing PM while attempting to work as an agent in the evenings/weekends? Their business model seems attractively suited for a smaller operation that wants to work part-time while working other fields in real estate.

Additionally, does anyone with more experience than myself "probably 90% of bloggers on here", have any recommendations or nuggets of wisdom towards trying to do something like this part-time beyond which specific company I try to work under?

Lastly, are there any other companies out there that would be good to look into in order to try and do sales part-time?

Thank you all in advance for any assistance!

 You will want to hang your license with a local property management company that's led by a real estate broker. In California, that's the norm for prop management companies, I can't speak to your state.

The property management company (at least in my area) will likely ALREADY have Realtors representing buyers and sellers. 

Property management = tenants = future homebuyers = why let those "leads" go to waste, when you've already got the licensing and everything else to have a few buyer's agents to help put them into a home & generate additional revenue from this? 

Property management = working with property owners = oh look there's also people that might someday want to sell real estate = same logic as above.

I bet you will not be the first new real estate agent to say something along the lines of "hey I want to work in property management, but also sell homes from time to time," the answer you want is probably something in the ballpark of "Yes! We already have a few people doing that, we'll get you trained up, including how to plant that seed early on when you are serving as leasing agent to put those tenants (tomorrow's buyers) in our units." And you might target whoever is doing property management for higher end apartments (more likely to qualify for a mortgage in a year or 3), just drive around the nicer part of town and see whose name is on the "for lease" signs. 

I don't think anyone really does this, but it ALSO might not be crazy three months before leases expire to plant some "rent v buy? let's talk about it" seeds (semi-automated mailers, systems would have to be put in place). If one were to do that, one would of course owe it to the property owner not to ding them with any sort of fee for finding a new tenant, and probably cover the month of vacancy, if THAT makes sense would probably be up to price points in your area, and look at that I think I have a new idea that I need to put feelers out for and/or run some math on.