Why Every Real Estate Broker Should Start a Property Management Company
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Why Every Real Estate Broker Should Start a Property Management Company


Alright what’s up people? Jason Hull here
with DoorGrow and check us out at DoorGrow.com. So I want to talk really
quickly about why every real estate broker or realtor should be getting
involved in property management. Okay so I’ve got four main items I’m gonna tell
you about so you may want to jot these down but bear with me I’m gonna go
through quick. First, you want a hedge against the market right because
when property management is doing well real estate is not and vice versa. So it’s
a great way of hedging against the market so if real estate is going really well the market is going to turn, it always
does, and when the market turns you want to be involved in something else that
can keep everybody fat and happy and keeps money flowing
right? So that’s the second piece is residual income so real estate it’s all
about the deal, right? You’ve gotta hustle, get that deal the second you stop moving
your ass you there’s no deals right the second you stop motivating your team
there’s no deals and so it’s always this grind to get the next deal, get the next
deal, and once the deal is done it’s done. Property management is residual income. I don’t think I have to tell anybody why residual income is a good idea, right? Most of you know this as business owners, as entrepreneurs. Residual income is like
the ideal and the dream. You want to have something left at the end of your career
or if you ever decide to retire or anything like that or you maybe you just
want to stop hustling so hard and reduce the pressure and noise in real estate
because if you take off that pressure and you have a certain amount of your
income coming in through residual you know stable income and that’s building
and growing, you’re building something that’s just bringing in money every
month. You don’t have to hustle and grind to get that and here is the third issue. I want you to keep this in mind is that is that property management is the ultimate gateway drug to real estate deals. Okay? So and here’s
why, and this is my next item– is people avoid realtors, okay? People avoid you, people avoid real estate agents and here’s why. They don’t want to work with an agent they’re nervous about agents, they feel like
agents are sometimes slimy, salesy people right they don’t want to be sold to. So
what do they do? They go and try to for sale by owner, right? And then they don’t
get any buyers, right? Because they’re hoping the buyer is gonna foot the
bill, right? And so they don’t get anybody moving through the property they don’t
get buyers and almost all of them, there’s a large percentage of for sale
by owners, but when all said and done the vast majority probably like 75-80% of them list with agents. All of for sale by owners. They eventually all
list with an agent, right? So they list with an agent and they eventually fold
and somebody gets them on because only agents are probably coming through their
property and you know, “Hey, would you like a buyer?” You know, so eventually they list
with an agent. The other thing is people are avoiding realtors when
looking for property, so they go and try and search online search the MLS, try and
do it on their own through Zillow, Trulia. They’re trying to do it on their
own and so yeah so every real estate company should start a property
management division and every property management company should also have a real estate division as well. Right? So property management is the ultimate
gateway drug, I mentioned, right? So this is, I mentioned 3 & 4, right? So the
ultimate gateway drug, which means property managers have dibs on real estate
deals they’re the first to know when a tenant no longer wants to rent the place
out they put in notice. “Hey, well let’s get you into a property, right?” So you
know and you have a relationship with them that you’ve had already going
you’re the first to know when a and you’re always getting tenants coming to
you all the time you can turn these people into buyers, some of them maybe shouldn’t be renters maybe you can get them into a property, right? You have tons and tons of people looking for housing coming to you constantly. The
other side is the owners of the properties these owners are always
looking for, if they’re investors they’re looking for additional
properties and you can help them figure out how can we financially make this
work? How can we get you into another property? Or you have dibs or are
the first to know when the owner no longer wants to rent the property out so he
might the owner he or she might say “Hey, we no longer want to rent this
place out you know, don’t let the tenant know and you said you
know then you can sell this property, right? And you have a
relationship with them and you can do that. Not only that, but on the property
management side you can get referrals and stuff coming in from agents so there’s a
lot of benefits to having a property management side to your business. So, if
you’re interested in learning how to start your business correctly and how to
get the right branding the right reputation stuff in place because most
property managers are really, really struggling in these areas and how to do
it without damaging your real estate brand and damaging your real estate
company then this is what we specialize in. There’s nobody better at this
than us. We help companies with the whole branding, reputation. We help startups
constantly in the property management space, so check us out at DoorGrow, and
that’s it! I hope this was a nice seed thought for you and I hope you get
excited about maybe adding property management or adding real estate to your
business if you don’t have one of those. Goodbye!

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