Denise's Future Plans

Last week, while talking with Denise, she told me she was unhappy with her brokerage. After stopping to consider my words for about 30 seconds, I said, "Do you want to hang your license with me?"

It is true, I don't necessarily want to take on other agents. But, I would make an exception for a few seasoned folks who know what they are doing and turn their paperwork in correctly and on time. Denise is one of the few.

However, Denise dropped this bombshell on me and all bets were off. "I am currently doing property management."

My little brokerage does not handle property management for a myriad of reasons. However, the two big reasons are, first I don't have a broker's trust account--a requirement from the State for property management. I am not sure the Department of Real Estate would let me have one, given I just went through a horrific bankruptcy that included rental properties.

Second, even if I were able to have a trust account and wanted to pay someone to handle the accounting of the trust account I have no desire to ever do property management again. Been there, done that and now I'm trying to recapture lost bits of my soul. Thank you very much.

There are other reasons too. Though Denise would ultimately be in charge of her clients as the broker, I am still the buck-stops-here person in charge. I don't want to chase down rents. I don't want to deal with move-ins and move-outs. I don't want to deal with the legalities involved with tenants who don't pay or move out in the middle of the night and leave all their stuff behind. There are a million other things that are coming to mind as well as to why I don't want to do property management. If you are curious, hit me up, I can give you years of reading.

Denise understood. Property management isn't for everyone. She has a secondary plan though. She started broker school and is going to open her own brokerage. That's awesome! She will be great at it.

Broker school takes a lot of time and energy. I did offer to help her out while she is living, breathing and eating this education. If she needs a home opened up for a buyer, an errand or some other real estate task, just call me. I didn't have that kind of support from El Jefe when I went through my classes and I wished I did.