Updated 24 days ago on . Most recent reply
Starting an STR Management Company - License Requirements?
Hi All!
I'm considering starting an STR management company. I've done a bit of research for WA state (where I'm looking to operate), and based on what I've found, not only do I need a Real Estate License, but to actually own and operate the company, I need a Managing Broker's license. The state requires 3 years of experience while holding a Real Estate License + additional training to qualify as a MB. I don't have my license yet, so it seems like my option would be that I would need to find a Managing Broker to sponsor me.
Does anyone have any advice on how to structure a deal with a Managing Broker for the sponsorship? I don't think they would be required to do much. I want to compensate them fairly, but I also don't want to give away my business.
Thanks for the help!
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#2 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
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#2 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
Its going to be tough - it is a lot of work for a broker, all of the trust accounting. It is very based on the person, but I would expect to cut them in at least 1/3.
- Andrew Steffens
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- 813-563-0877
