I understand that you can manage your own properties without a problem. However, a friend of mine wants to manage other people's properties and collect a percentage of the rents received.
Are Real Estate Brokers the only ones allowed to do this? Must my friend first become a Broker before starting his company? He's in PA.
2007-06-10 17:25:49 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Anyone is allowed to manage properties, but an agreement like this should be written up by a lawyer. Real estate brokers are only there to help people find property, assist in some legal processes when purchasing or selling property, and they have a network to help people sell property with good exposure.
2007-06-10 17:32:35 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You are required to have an active real estate broker's license to manage rental properties for others in the State of Pennsylvania.
Refer to House Bill 1172 from the 1997-1998 session. HB1172 defines the scope of real estate brokerage.
2007-06-11 11:27:51 · answer #2 · answered by acermill 7 · 0⤊ 0⤋