Is a license needed to work in property management?

6 Replies

Some guy who works at this local brokerage(In Ohio) told me that if I want to work in property management that I need to be a licensed real estate agent. This doesn't sound right to me. I know that you need a BROKERS license in order to start your own property management company.... Is this true that I need to have my real estate sales license to work in the property management field in OH?

It depends on who you work for.  In IL, if you work for the owner of the property, you don't need a license.  If you work for a 3rd party management company, you need at least a leasing license.  Typically your employer will give you 90-120 days or so to complete the classes and pass the exam once they hire you, and they usually reimburse you for the costs incurred in doing so.

Originally posted by @Kathryn Dillon:

It depends on who you work for.  In IL, if you work for the owner of the property, you don't need a license.  If you work for a 3rd party management company, you need at least a leasing license.  Typically your employer will give you 90-120 days or so to complete the classes and pass the exam once they hire you, and they usually reimburse you for the costs incurred in doing so.

 A leasing license? Hmm I have never heard of that. I could be wrong, but I think that is strictly an IL thing. I did a google search on "leasing license" and the only results were about Illinois.

Yeah it could just be an IL thing; otherwise, if the broker license is the only option then my best guess for your state would be that you'd need to get the broker license if you work for a 3rd party management firm.  The leasing license is cheaper and much easier to obtain than the broker license.

In most states the agent's license is the stepping stone to the broker's license. You have to be an active agent for a specified number of years before you're eligible for a broker's license. Here in Texas, it's four years. I just looked up Ohio and it looks like you need two years of experience before you are eligible for a broker's license.

If you're managing property as an employee of the owner, you do not need a real estate license.