Reasons Real Estate Brokers Should Buy or Start an HOA Management Company
Starting or buying an HOA management company makes especially good business sense for real estate brokers and agents for many reasons. All experienced real estate brokers and agents know that it is possible with hard work, to earn a high income on average over the course of their career. They also know that the real estate market has cycles and that closings don't always take place when funds are needed.
Real estate brokers and agents will find that continuing their real estate business while running a homeowner association management company is an excellent solution for many reasons:
- HOA management accounts mean steady, reliable income. On the first day of every month, you receive in advance a check for the management fee;
- Managing homeowner associations connects you with more people who will sell and buy property;
- It provides you with the "staying power" that is needed between closings, and when the real estate market slows down;
- Diversification is always a wise strategy; and
- Being able to offer an agent the ability to manage one or more homeowner associations for a steady paycheck is a powerful recruiting tool for brokers.
Agents should be aware that a real estate license is not required to manage homeowner associations.
If you are a real estate broker or agent and would like to learn more about starting or buying HOA management company, please call today.