?s for Professional Landlords

Rehabbing, Fix and Flip, Rental Properties
1

Hello Everyone,

I have a few questions for anyone out there who landlords properties for out of town investors. Anyone who may be able to assist, I would really appreciate it. Thanks in advance.

Betty

2

There are dozens here but you didn’t post the questions!

Keith

3

I’ll start with only one. BTW, I am in TX.

As a licensed agent you must have your license with a broker. As a buying and/or selling agent you pay a portion of your commission to the broker. A broker usually collects a flat fee or commission on any other income generating activity.

My question is what arrangement do other property managers have with their brokers? Do they pay anything for each listing they are managing? Do they only pay on property that comes through the broker and nothing on business they generate themselves?

The brokers I am talking to are very open since they currently do not have property managers in their office. I only want to find out what is done in other offices so I can be fair. The two brokers I am working with have both stated that they are not interested in being a brokerage firm and any arrangement will be acceptable; I just don’t want to take advantage–if I go with one of these brokers most of my business will come by their investor pool.

Thanks for the help. Always appreciate it. Betty

4

My guess is that they pay a portion to their broker, but maybe you can contact brokers in your area to ask them how their structure would work if you were to join them.

Maybe you are not interested in actually signing up with the broker, but at least you can investigate and receive an answer directly from the source.

5

Thanks for your response. Most brokers don’t handle this; but I did reach The Michael Group; they are a discount brokerage firm and was able to get some information.

For anyone interested, they charge a flat fee each month to hold your license and then have a flat fee charge for each contract you enter. Fees are reasonable; but they offer no real support. That is okay with me, I really didn’t anything but some ides about the cost of services.

At least I found what I was needing. Thanks again, Betty