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Real Estate: What Is The Law in California?
Okay, for 5 years I was an assistant on-site property manager. I showed vacant units, signed leases with new tenants, created ads ad posted online. During this time I was doing freelancing work for web stuff to earn some $$$$. As assistant property manager I was receiving free rent. Over the past several years I have added to my resume as far as education goes. I took all 3 real estate classes and passed. My state exam is coming up.
Anyway, the onsite manager never paid me a salary in the 5 years. However, he has paid for my schooling for real estate, taxes and etc. He has no stepped down as manager to start his own real estate company. I really do not have the $$$$ to promote myself as an agent full time.
So I am thinking of becoming a leasing agent during the week days and working for my former manager as his company as a real estate agent on the weekends. I would do this until I start saving up more $$$$ and sell my first house. The good news is I know how to build my own website and market it online.
My question is this a good idea to work as a leasing agent for 1 year and on the weekends as a real estate agent? Any laws I must follow?
3 Answers
- Anonymous7 years ago
OK I decided to call the OR RE Agency. I do not know if the laws are same in CA or not but here is what I found out.
When you get your license you are then required to register it with the company you work for because you can no longer work as a full time employee doing PM duties under the current exemption you are likely working under as I am. That exemption makes it OK to work as Pm under someone elses license however once you get your own license that exemption no longer applies. You cannot register your license with 2 different business names at the same time. This makes it illegal to then also work for another real estate company with the same license.
So short answer is no- You cannot work for 2 different businesses in real estate with the same license.
- Anonymous7 years ago
Why did you let him not pay you anything? Anyway, at least he's gone so you can now also now venture on your own. You can start through people you know. Post on social media sites, forums, and other places online. You can also apply at another real estate agency since you have experience.
See http://bitly.com/10u9zWh for more information on real estate agents.