Q: Does a real estate broker/agent need a special property management license to manage properties, i.e. assets or REO's?
A: No. However, property managers must comply with additional regulatory requirements. A broker or agent that does not have experience in property management should carefully review the statutes and Commissioner's rules regarding property management (and landlord and tenant issues, if applicable). A broker or agent is prohibited from practicing in an area of real estate in which they are not competent.
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