I am mentoring a local real estate FRANCHISE that wants to go into property management to 1) stay alive in the real estate business; and 2) service the many clients in the area who can not sell their homes.
We had had 2 meetings over the last 30 days - both at their office which is READILY identifiable as a real estate franchise office. I have suggested that they SEPARATE their brokerage and property management and that have a sign made that identifies them as having renal homes available to post in front of their office on a HEAVILY traveled road.
They have an upstairs portion of their office that can easily be dedicated to property management with a wall sign heading up the stairs.
I don't want this separation so much PHYSICALLY as I would like for them to do it LOGICALLY so that they know which hat they are wearing when....
I've advised them that if they go to a property management client with EVERY issue like they would in a real estate transaction, the client is going to wonder why they are employing them and then doing all of the work.
We may have the same real estate license; however, the employment is DIFFERENT and Our property management expertise is what they are paying for....not a document signing service.
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