Property Managers as Brokers

[Brian Burke]

Along the lines of David Greene’s advice I’ve been putting together what I hope to be a “Big 4” team and I’ve found as I ask for input on potential single family deals from a prospective property manager that the manager is a licensed real estate agent and interested in representing me as the buyer’s broker. She apparently splits time as manager/broker about 60/40. 

I could see how knowledge of the market as a property manager could be a good skill in negotiating an acquisition but I’m a little hesitant to have a jack of all trades wear both hats and try to do both well. 

Is this at all common in single family investing outside the turnkey business model? Is my concern much ado about nothing?

[James Wise]

Originally posted by @Brian Burke:

Along the lines of David Greene’s advice I’ve been putting together what I hope to be a “Big 4” team and I’ve found as I ask for input on potential single family deals from a prospective property manager that the manager is a licensed real estate agent and interested in representing me as the buyer’s broker. She apparently splits time as manager/broker about 60/40. 

I could see how knowledge of the market as a property manager could be a good skill in negotiating an acquisition but I’m a little hesitant to have a jack of all trades wear both hats and try to do both well. 

Is this at all common in single family investing outside the turnkey business model? Is my concern much ado about nothing?

 You have to be licensed to do PM. PM is a high volume low profit product to go along with but/sell brokerage services. Most that offer PM only do so to support more sales.