All Forum Posts by: Nathan Gesner

Thanks for the reply, Steve.

I have wanted to work for this broker for a while and won't be changing. She's very successful, very honest, well respected, and a great trainer. She just has this strange fear of certain things, like PM liability or agricultural properties. I would say it's unreasonable fear, but that's not my issue. I just want to find ways to ensure she's comfortable while working on my success.

Second, there's only one big property manager in our town of 9,000. Most Realtors want nothing to do with it, for a variety of reasons. The only major property manager has over 190 properties but is running it single-handedly and turns 70 this year. I've been interested in property management as a specialty since I decided on RE, so this is my opportunity to purchase her business but I would have to continue operating under my current broker's license since the other broker is retiring.

I might consider approaching her about placing her business under my broker's license for a year. This gives her time to transition her sellers to me, I get to learn the business, she maintains the liability as a broker which keeps my broker safe, and she continues to gain income for another year with minimal effort. Sounds like a win-win-win to me, but I haven't had the chance to talk it out with everyone.

I am a new agent interested in property management. I have read a few books on RE investing and own two properties that I manage myself. However, I have a lot to learn about managing property for otheres.

I currently work under a broker and she is concerned about additional liability with property management (being sued by a tenant or the homeowner). I'm wondering what I can do to limit/eliminate her liability and remove her worries. For example, if I manage a property and the contract is with me, can a client still sue my broker since I'm operating under her license?

Her brokerage is an LLC. Can I own a separate LLC and still operate under her license, thereby protecting her from any liability?

If anyone has information about this, or can point me in the right direction, I would sure appreciate it. I plan on speaking with a lawyer soon to get a better understanding of all this and put her worries at ease, but thought I would see if anyone else has experience in this first. Thanks in advance!