Can a Realtor manage someone's property?

Question

James Wise · Answer

The agent would need to check to see if their broker would allow it. Everything needs to run through the broker commissions, PM fees, leasing fees etc. Some brokers will not want the responsibility or liability that PM brings to the brokerage. Higher E&O and more headaches are not for everyone.

Account Closed · Answer

In the state of Florida an individual may manage his own properties. However, if you are looking for a property manager other than yourself he must be licensed. In my experience you should be very careful when contracting with a property management company. Experience, client relations and most of all cost management are key to a successful management relationship

Nathan Gesner · Answer

Florida requires you be a licensed real estate agent.

http://www.myfloridalicense.com/dbpr/pro/division/Servicesthatrequirealicense_re.html

Robert Castillo · Answer

Yes a realtor can manage a property, and a real estate license is required. However not all brokerages have the requirements to do so. I am currently with La Rosa Realty and just began managing my first property! Hope this helps

Kathy Johnson · Answer

The above reply talked about the legal requirements answering the question Can a Realtor manage someone's property.  In addition, there is the question of whether the Realtor has the skills to manage the property and the residential rental knowledge to manage the property.  We have had varying experiences.  Some Realtors have a patronizing attitude to property owners assuming that the owner doesn't know anything and doing things like refusing to give the owner enough information to screen while not screening prospects either.

Some don't take the time to find out what the local rental market is like but others apply a uniform rent based on square footage and not taking into account other market influences such as location or amenities.

So it pays to ask specific questions about experience, knowledge, licensing, training, and simply to find out if the Realtor is someone you can work with in an atmosphere of mutual respect.

George P. · Answer

I think they have to be a property manager as well.

Ralph Hernandez · Answer

I gotta say I just love the BP Community. Thank you all for your feedback. It's great to see different perspectives to situations we face. I am a Realtor and looking to leverage those clients seeking Property Management. This feedback will help me assess if it is something I want to take on. Thanks again.

LaToshia Hall · Answer

In Florida they are generally hire property managers

Melissa Gittens · Answer

It depends on the State. In Connecticut you have to be a licensed real estate Broker. I would suggest checking out the Florida State laws that should be available to you

Adam Bartomeo · Answer

To my knowledge everything above is accurate.

Keep in mind that you do not need a license to manage your own properties

Can a Realtor manage someone's property?

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