Understanding Broker Commission vs. Firm
Can you break down a typical payout to a Broker (and Property Manager) if you own the Property Management Firm. Trying to understand the business side.
Background: I am a real estate investor (buy and hold). I do a great job managing my own properties and want to venture out to start my own Property Management Firm. However of course I would need to hire a broker because I am not a Real Estate Agent/a broker.
#2 Real Estate Agent Contributor
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#2 Real Estate Agent Contributor
- Real Estate Broker
- Coppell, TX
I think there are very few who do well and it is a very risky business. Not to say there are not any successful ones. I'd go to work for one...get your license and see it on the inside. Do it for a year. Learn it from the inside out and then decide if you still want to do it. There are a lot of brokerages that have the opportunity and turn it down due to the risk factor.
@Bruce Lynn I like my full time job...not trying to leave ...trying to start a firm with and will hire property managers.
