Property Management question

[johnfc]

What is the name of your state?

Virginia

Do you need to have a real estate broker license specifically, or is a real estate salespersons license adequate to practice property management. Please note that this is for the state of Virginia and that this answer will vary from state to state. Thanks for any help. -John

 

[HomeGuru]

What is the name of your state?

Virginia

Do you need to have a real estate broker license specifically, or is a real estate salespersons license adequate to practice property management. Please note that this is for the state of Virginia and that this answer will vary from state to state. Thanks for any help. -John

**A: need details. Are you going to manage your own property or for one entity such as a family trust? If not, you need to have at least a sales license. If you will be sole company owner, then you need a broker's license.

 

[johnfc]

HomeGuru,

Thank you for the reply. This will be a property management business for properties of various owners. My dad and I are planning to setup the business, however, neither of use has our broker license(I only have my salespersons license). My father and I plan on being the company owners as well. Is there a way to setup via a 3rd party(broker) my father and I's business or will one of us definetly need a broker's license. I really appreciate the information.

Best Regards,
John

 

[HomeGuru]

HomeGuru,

Thank you for the reply. This will be a property management business for properties of various owners. My dad and I are planning to setup the business, however, neither of use has our broker license(I only have my salespersons license). My father and I plan on being the company owners as well. Is there a way to setup via a 3rd party(broker) my father and I's business or will one of us definetly need a broker's license. I really appreciate the information.

Best Regards,
John

**A: per state licensing law, either you or Dad needs to have a broker's license or you need to hire a licensed broker.