Management Tools

By Sonia Alleyne

Q: I am a newly licensed realtor. I am also interested in property management but cannot find information on certification, licenses, etc., in this field. Do I need certification and where can I find information that will guide me in starting my own business in this field?
– Rosa Ramirez,. Via the Internet

A: The requirements for certification, licenses, and degrees will largely depend on the state in which you work and the level at which you intend to operate. In all 50 states, real estate agents are required to have licenses. For property managers, it varies from state to state, says Marcy Hurt, a licensed real estate agent with Home Real Estate in Philadelphia. “You a need broker’s license to set up your own business in Pennsylvania,” she says. “Or you could be employed by a property manager who has a license. Some states require that you have a certain number of college credits to be eligible to take the broker’s exam. It’s important to check with your local real estate board for certification requirements.”

Opportunities are greater for those with college degrees in business, accounting, finance, and real estate. According to wetfeet.com, however, skills are not necessarily transferable from one market to the next.

For information on opportunities and certifications, log on to wetfeet.com and do a search under real estate. Consider joining the Institute of Real Estate Management at www.irem.org.

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