How To - Property Management

Maximize Your Client Portfolio with eXp Realty and HomeRiver Group

NOTE: Exp Realty prohibits property management activities in their name. If you want to brainstorm about how to get into property management, check out this ChatGPT. This is NOT legal advice. We cannot train you on how to run a property management business in compliance with state law. Property management covers service level standards, tenants rights, property codes, notices, Broker Trust accounts and many other rules that apply that can only be managed by a licensed Business Entity Broker in Texas. See advice from TREC and legal counsel. We also recommend partnering with an expert in the field who can share with you what you don't know! It's way more than collecting rent checks and finding tenants.

PER EXP POLICIES & PROCEDURES MANUAL

K. Unauthorized Activities

1. Generally

c. Except as otherwise provided in the last sentence to this paragraph, Agents shall not conduct property management services through eXp. The term "property management services" means engaging in any activities concerning an actual or prospective tenant on behalf of a client, whether or not such activities are coupled with any property preservation services (as that term is defined herein) (e.g., collecting rents, performing inspections, setting up repairs and maintenance, running a background check, making or assisting with tenant selection, etc.). However, Agents may list rental properties on behalf of landlord- clients, and Agents may assist tenant-clients in locating suitable properties in which to rent.

Agents cannot provide property management services under the eXp Realty brand. Instead, we have a strategic partnership with HomeRiver Group, designed specifically to expand the services available to our real estate agents. This partnership allows eXp Realty agents to offer top-notch property management solutions provided by HomeRiver Group to their landlord clients. This guide provides detailed instructions on how you can leverage this partnership to enhance your service offerings and ensure your clients receive the best possible care for their properties.

Partnership Overview

HomeRiver Group, a leading name in property management, collaborates with eXp Realty to handle all aspects of property management, ensuring that landlord clients receive expert service. This partnership increases the range of services you can offer and enriches your client relationships by ensuring comprehensive management of their rental properties.

Key Benefits

- Comprehensive Management Services: From analyzing rent prices and renovating properties to marketing, tenant screening, and maintenance, HomeRiver Group handles it all.

- Referral Earnings: Earn $750 per door for up to the first 10 doors, with the referral fee paid after the first month's rent is collected.

- Client Retention Assurance: When a client decides to sell their property, HomeRiver Group guarantees to refer them back to you for the listing, ensuring you never lose a client.

How to Utilize the Partnership

1. Identify Eligible Clients: Focus on clients who own residential properties and might benefit from professional property management.

2. Refer Your Clients: Use the dedicated portal on the Cliff Freeman Group website to refer your clients to HomeRiver Group. Make sure to enter all client details accurately to track referrals and secure your commissions.

3. Stay Engaged: Maintain contact with HomeRiver Group and your client to ensure the service meets their expectations and to reinforce your relationship.

Important Compliance Notes

- No Direct Property Management by Agents: eXp Realty agents are not permitted to manage properties under eXp’s license. If interested in managing properties, agents must create a separate entity with its own licensing.

- Transparency and Clarity: Ensure clients understand that eXp Realty is not involved in the property management process, to avoid any confusion.

Contact Information and Next Steps

For more detailed information or to start referring clients:

JP Reese, Business Development Manager

Email: JReese@homeriver.com

Phone: 469-774-5710

HomeRiver Group Office

Phone: 214-432-1953

Address: 6404 International Pkwy #2010, Plano, TX 75093

Conclusion

This partnership between eXp Realty and HomeRiver Group is an excellent opportunity for CFG agents to broaden their service offerings and enhance their professional value. By ensuring that your client's property management needs are expertly handled, you boost your potential earnings and strengthen client loyalty.

Contact JP Reese today to discuss how you can work together to maximize your client’s property management needs and boost your earnings potential!

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