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Updated almost 7 years ago on . Most recent reply
Property MGMT - Using an Unlicensed Contractor to Open Door
Hello All,
I'm considering starting a property management company with the goal to remove myself from as much of the "on-location" activity as possible. This will require a sophisticated software (electing to use Appfolio) and well documented processes.
My question is if open houses and prospective tenant meetings need to be hosted by a licensed broker, or if I could contract this out to an unlicensed individual.
The marketing would be limited to free services (ie. Zillow, Trulia, etc.) and I would be managing the listing posts, tenant screening and communications remotely. All I need is someone to open doors and direct questions back to me. I would then follow up and manage the application process through Appfolio.
Rather than pay out a significant commission to a broker, I'd like to limit that expense.
Does anyone have experience with this type of setup?
Thanks!
Most Popular Reply
Thanks @Christopher Phillips, that's what I had figured.
@Bob B., I think that's the direction I'll take with either an hourly rate or a flat fee for open houses and showings. At the end of the day, it would be easy money for a new agent since I don't plan to use the MLS and I'd be the one handling communications, applications, background screenings.
It's also an opportunity for the agent to get exposure with potential future clients. Win-Win.
Any idea on a general market rate for leasing agents? $13 - $17/ hour?