Can u start my own company as a private leasing agent?

General Landlording & Rental Properties
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Can u start my own company as a private leasing agent?

Destiny Young
Virtual Assistant · North Charleston, SC · Member since 2021 · 3 posts · 0 votes

I am a current leasing agent for a property management company in South Carolina. I love the company I work for and I want to continue to grow with them. However I was looking into starting my own company and becoming a leasing agent for my brother . Is this legal ? Can I open a leasing consulting business without my RE license? I’m working on getting my license. Thanks for reading . Please help lol 

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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
5y

It's different in each state, but in most, real estate related payments can only be made to a real estate broker and you must be a licensed agent to show properties you or your employer do not have an ownership interest in.

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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    5y

    It's different in each state, but in most, real estate related payments can only be made to a real estate broker and you must be a licensed agent to show properties you or your employer do not have an ownership interest in.

    [email protected]248-209-6824
    Logical Property Management4.9451 Reviews
    WebsiteView Page
    1Reply
  • Troy GandeeBusiness Member
    Real Estate Broker · Charleston, SC · Member since 2013 · 794 posts · 454 votes
    5y

    @Destiny Young You'll have to have either a PM or sales license to lease on behalf of someone else. The exception is that you can lease or sell your own properties without a license. However, when you represent another individual or company, you're expected to be licensed. Even if you get licensed, you'll still have to lease through a company as an agent/representative of the company under a PMIC or BIC. I can't recall what the PM requirements are, but after a certain amount of time being licensed, you can become a PMIC (PM in charge) and open your own management company. 

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  • Marc Winter
    Real Estate Broker · Northeast PA · Member since 2017 · 2k+ posts · 2k+ votes
    5y

    Get your license, hang it with a broker, and have at it.  Any other way of earning a commission for rentals or sales for a third-party is a big no-no.

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  • Destiny Young
    OP
    Virtual Assistant · North Charleston, SC · Member since 2021 · 3 posts · 0 votes
    5y

    Thanks so much. These responses are so helpful.

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  • Scott M.
    Real Estate Broker · Rochester Hills, MI · Member since 2009 · 2k+ posts · 2k+ votes
    5y

    Yes, NC does require those representing others for buying/selling/leasing property to have a license.  The reason you don't need one with your current company is because they have one.  You can be a leasing consultant for them because someone (presumably!) has a brokers license in NC.  You want to start your own company and that means you need to be your own broker or find a broker that will allow you to start your own company under their license.

    As others have said, get your license and experience and then become a broker.  

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  • Destiny Young
    OP
    Virtual Assistant · North Charleston, SC · Member since 2021 · 3 posts · 0 votes
    5y

    Okay thanks for the great advice. I will do.

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