Kent - FL 0 Report post Posted December 20, 2011 Michael suggests in the Manual that you represent yourself as a "property management company" instead of an "investor" so that the Seller doesn't shut down on you... and I see the value in representing yourself that way. But in Florida, you are supposed to be a licensed real estate agent in order to do property management. How do you work around this? Share this post Link to post Share on other sites
Kent - FL 0 Report post Posted December 20, 2011 Sorry guys... should have done a search first. Just went to Page 3 and saw where Michael already answered this question. I am surprised that it has never been an issue though. I guess you just have to be careful who you speak with. I spoke with an investor in the Ft Myers area that actually received a call from the State asking her to cease & desist because she wasn't licensed. I think she had made a comment to a real estate agent "friend" that turned her in. On another note, I've seen investors that have "Property Management" listed on their business card and along with the fact that they will pay a referral fee of $500. Isn't this just asking for trouble? And regarding referral fees, what is the best way to give someone a "referral fee" and account for it as a business expense? Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted December 21, 2011 Welcome to the world of realestate. I have always said it is better to be licensed Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted December 21, 2011 Kent, if you're doing CAs sellers don't care what you call yourself. They care about only one thing: How fast can you get this place filled? All they really need to hear from you is: "I have families looking to lease purchase your house right now, sign here so I can tell them about it!" Share this post Link to post Share on other sites
<Steve> 82 Report post Posted December 21, 2011 Manage your interests, not the property. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 21, 2011 Welcome to the world of realestate. I have always said it is better to be licensedI agree that having a license is not a bad thing. . .unless the individual stops investing and becomes a full time sales person/chauffeur. Kent, if you're doing CAs sellers don't care what you call yourself. They care about only one thing: How fast can you get this place filled? All they really need to hear from you is: "I have families looking to lease purchase your house right now, sign here so I can tell them about it!"What Doug said. Kent, I can only speak from my own experience. It has never been an issue for me. If you treat the homeowner fairly and live up to your end of the deal, the Real Estate Police are unlikely to ever come knocking at your door at 4:00AM. Share this post Link to post Share on other sites
pilot76180 51 Report post Posted December 21, 2011 I never refer to myself as anything...I just say "Our company does this.."I guess I approach it from the "company" stand point, not "me" so I never have to say "I'm an investor" or whatever. I also explain that we do NOT to property management. My card doesn't say anything about "investor" or "property management" etc. It has our logo, my name and contact info. Share this post Link to post Share on other sites
ErikOk 10 Report post Posted December 21, 2011 I never refer to myself as anything...I just say "Our company does this.." What do you tell them the company does? I have been thinking that most people like dealing with a company vs an individual. I am sure some customers don't mind the private individual angle, but I think most find some security in knowing they are dealing with a company. What do you all think about the company vs investor angle? Share this post Link to post Share on other sites
lhenley 8 Report post Posted December 21, 2011 I heard it said that if you act like you're part of a company, then (1) you can delay a decision until you "talk to your partners", and (2) when things don't work out, you can blame someone else. Lynn (FL) Share this post Link to post Share on other sites
ErikOk 10 Report post Posted December 21, 2011 I heard it said that if you act like you're part of a company, then (1) you can delay a decision until you "talk to your partners", and (2) when things don't work out, you can blame someone else. Lynn (FL) Lynn, I think you have it confused with being a politician Share this post Link to post Share on other sites
lhenley 8 Report post Posted December 21, 2011 I knew I heard that somewhere ... Lynn (FL) Share this post Link to post Share on other sites
Shar NJ 1 Report post Posted December 21, 2011 My business card says Lease Option Specialist. Regarding the company/individual standpoint they know I have a company in place but they deal with me specifically, and personally. That way I can sway it either way, a higher power makes decisions but they also have a personalized contact person to go to with questions, etc. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 22, 2011 I heard it said that if you act like you're part of a company, then (1) you can delay a decision until you "talk to your partners", and (2) when things don't work out, you can blame someone else. Lynn (FL) Lynn, I think you have it confused with being a politician Share this post Link to post Share on other sites
Kent - FL 0 Report post Posted December 22, 2011 Thanks for sharing everyone! I like John's idea about stating "our company" instead of either investor or property management. As I mentioned, I've been surprised at the number of business cards I've seen from members of the local REI that state they do property management and it is also in print that they will pay a $500 referral fee. Just seems to be asking for trouble. And yes, that was priceless Erik... thanks for clarifying for Lynn! lol Share this post Link to post Share on other sites
pilot76180 51 Report post Posted December 22, 2011 I never refer to myself as anything...I just say "Our company does this.." What do you tell them the company does? I have been thinking that most people like dealing with a company vs an individual. I am sure some customers don't mind the private individual angle, but I think most find some security in knowing they are dealing with a company. What do you all think about the company vs investor angle?I tell them our company does lease purchasing....and also soft porn.... Share this post Link to post Share on other sites