I have noted an over abundance of property managers in the State of Missouri, but I can't seem to find many who are actually legal.

Did you know that it is agains the law in the state of Missouri to act as a property manager for a 3rd party and receive a commission?  Apparently the majority of the property managers out there do not.

So I understand from broker class, this could result in huge fines and time in jail for the property manager.

I think with the current economy, we need to do a few things different.

(1) Property managers in MO & KS all need to be licensed agents and working under a licensed broker.

(2) The Real Estate Brokerage needs to adjust their model to allow agents in their system to manage property, right now, there is not a brokerage out there that allows this - they all tell you to go out and get your own broker's license and be your own broker, but you ahve to be an agent for 2 years to get the broker licence, in the mean time no one will hold your licenses and supervise you as a property manager.

(3) Our Heartland MLS needs to catch up wtih the times and allow properties for rent, lease to own, etc through the system.  It has the capabilities, but unfortunatly, if we lease aproperty, we can't report it through MLS, we have to cancel the listings.  By adding a few terms to the system we could offer properties for sale, for rent, for lease to own, we could get board accepted contracts for this, and we could track what properties sell for, rent for, or lease to own for. depeding on what happened with the property.

Ben, What do you thinK?

If there are typos I appologize,my font on Active Rain seems to be minuse 3 so I can't read it and not sure how to make it bigger?