Property management certification or real estate license?

Question

Hi, I'm a newbie looking to learn about property management. I have an extensive sales and marketing background and would love to jump into this career. My goal is to manage properties long term while I steadily invest in properties myself.

I live in Los Angeles and have been applying for Leasing consulting positions but many places seem to require a real estate license. I'm going back to school but I don't know if it's better to get a certification or to get a real estate license. I'm not overly interested in selling homes, I want to be eligible for these pm jobs but could a certification do the same for me without the upkeep of all the license fees?

Any feedback would be so helpful. Thank you!

Brandon Wells · Answer

Account Closed I have been in the industry a long time home most, if not all the designations you can get.  If you are looking to get your foot in the door and don't mind spending a few hundred dollars out of your pocket, I would recommend you get into contact with your local apartment association.  If you can't locate it, go to the National Apartment Association website and search for your area.  They have several designations and one that is good for entry level is the NALP (National Apartment Leasing Professional).  Here in Indiana, it costs around $400.  They have have a CAM and CAPS designation. One is focused on management and the other is focused on multiple asset management.

If you get into it heavily then I would recommend reaching out to your local IREM chapter.  They have a designation called the CPM®, which is globally recognized but there are a lot of things you need to do and requirements you need to me to get that one.  It is the one I am most proud to have!

Property Management (specifically multifamily) is such a rewarding career and I recommend it to everyone :)

Brandon Wells · Answer

@christine depends in your state. Some states require you the have a Real Estate license.

In in reference to the NALP, don't worry about the recommend time.  This is the class I send all my brand new leasing consultants to.  It will give a great foundation!

You can take the class online, but I recommend doing in-person so you can network.

Account Closed · Answer

Thank you Account Closed Really appreciate the feedback. It sounds like both would be helpful but you're right that I do need a license in CA so it probably does make sense to go that route at this time, though the other looks really targeted at the specifics of PM.

Is there a school you would recommend in Los Angeles by chance? I been looking into this company, CA Realty Training. https://www.carealtytraining.c...

They seem to have a lot of good reviews. Thank you again!

Account Closed · Answer

I'm in Northern CA, so I don't know about options where you're at, but I'm cheap so I'd look at a local community college.  The community colleges here have classes that would meet the requirements and they're really affordable.

Account Closed · Answer

In CA you will need a RE license to manage someone else's property, so I wouldn't waste time on anything else.  But, if you only manage your own properties, you don't need a license.

Also, in case it might work for you, you also don't need a license if you are an on-site manager in CA. And in CA, every property with 16 units or more require an on-site manager, so there is plenty demand.  Some owners will only offer a free apartment, others offer a salary and a discount on rent or some combination of the above.

If you prefer to learn in a classroom over online, you can usually take the required RE courses at community colleges.  It's pretty cheap to do it that way.

Good luck with your goals.  Sounds exciting.

Brandon Wells · Answer

Account Closed Unless you plan on starting your own management company, you could climb the chain and become president of a company without needing your RE license.

As someone who climbed that ladder and recently started my own Management Company, my recommendation would be to focus on NALP designation.  It would give you a great foundation.  Then in 1-2 years when you are becoming more and more familiar with everything, then I would look into your CAM designation.  This would focus more on the financial calculations and impact on the asset, from an owners POV.

Account Closed · Answer

@Brandon Wells It looks like I either need to have a real estate broker's license or work for someone who does in CA. I know if I work as an apartment leasing consultant I don't need one but I'll want to move up so likely I'll need a license eventually. But it sounds like the certification you're recommending is very targeted towards that career path. Both licenses will cost about the same it seems though the CAM class is shorter. For sure I'll want to do in person, I learn better that way anyways.

For sure stuff to chew on here. Thank you!

Account Closed · Answer

Hi @Brandon Wells. Thank you SO much for the reply, really appreciate the help. You would get these certifications over a real estate license? Or would you do both? I noticed the NALP has a class for someone who has 6 months experience but I have none. I contacted them to see if there is a class for someone in my situation.

Thank you again!

Christine

Property management certification or real estate license?

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