Dual Brokerage - Commercial and Property Management question!

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Dual Brokerage - Commercial and Property Management question!

Phu Le
Member since 2021 · 21 posts · 12 votes

Hi everyone,

I currently work as a Commercial Real Estate Associate (I do not have my RE License yet, however I will obtain it within the next month). Once I obtain my license, I am going to hang it with my Commercial Brokerage firm, NAINorcal.

The issue arises as I am also trying to start my own Property Management company - both commercial and residential management. My current firm, NAINorcal, only does brokering and does not manage properties. If I want to do property management, I'd need to hang my license with another brokerage that does residential/commercial management. Is it possible to do this? Hang my license with a commercial firm to do commercial brokering and hang my license with a residential firm to do property management?

Also my end game is to have my own property management company, not just join a property management team under a broker. Is it possible to "hire/rent" somebody's brokerage license to that they could be my broker-of-record but I can go ahead and build my PM company as I see fit?

Thanks!

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  • Benjamin Clark
    Realtor · Pittsburgh, PA · Member since 2016 · 32 posts · 17 votes
    4y

    Typically you can not work for more than one Broker in one state. Although I'm not familiar with all 50, I doubt that it would be possible in any of them. I am licensed in two states. Theoretically, I could hold my license with a Commercial Firm in one state and a Residential PM firm in the other. Your other question describes what we call a "rent-a-broker". Although technically possible, it is my understanding that the practice is frowned upon. 

    As a new licensee starting out, regardless of specialty, I would highly recommend choosing a Broker who can offer the best training possible in your preferred niche. We all think we know what we're doing, I know I did, when starting out but you'd be amazed at what the experienced brokers can show you and of course, offer up in the way of connection opportunities. Best advice I can give is to allow yourself to learn. I learn new things about real estate every day. Good luck with your decisions, and welcome to the business. 

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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    4y

    Why would a broker rent you their license, taking on a ton of liability, yet let you run wild to do whatever you want?

    [email protected]248-209-6824
    Logical Property Management4.9450 Reviews
    WebsiteView Page
    1Reply
  • Phu Le
    OP
    Member since 2021 · 21 posts · 12 votes
    4y

    @Benjamin Clark Hi Benjamin, thank you a lot for your thoughtful response! I would need to do both Commercial Brokering and property management in one state so I would unfortunately have to "rent-a-broker". I understand this is frowned upon but the broker could also be my advisor/consultant to make sure I would be on the right track and doing everything above board.

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