Must Tennessee property management companies have a real estate broker's license?
Yes, if a property manager is going to lease or list real estate, or negotiate or attempt to negotiate to perform any of those acts, or collect rent or attempt to collect rent, or if he or she holds herself out as engaging in any of those activities, he or she will need a broker's license. A salesperson working under a broker may engage in such activities.
Must Tennessee community association managers have a real estate broker's license?
NO. A broker's license is not required to manage community associations in Tennessee.
Tennessee Real Estate Broker Requirements:
To be eligible for the examination, broker candidates must have held an ACTIVE license that meets one of these criteria:
- Twentyfour (24) months actively licensed, if licensed as an affiliate broker on or before May 12, 1988.
- Thirtysix (36) months actively licensed, if licensed as an affiliate broker after May 12, 1988.
- Twentyfour (24) months actively licensed, if the candidate has a baccalaureate degree with a major in real estate.
In addition to experience, broker candidates must have successfully completed one hundred twenty (120) classroom hours of approved real estate education, thirty (30) hours of which must be an "Office/Broker Management" course taken at a school approved by the Tennessee Real Estate Commission. Broker candidates must submit the completed Broker Examination Application to the Tennessee Real Estate Commission. Commission approval is necessary before the broker candidate may make an examination appointment. After completing a review of education and experience documentation, the Tennessee Real Estate Commission will inform candidates of eligibility for examination. The approval process takes approximately four (4) weeks to complete. Candidates may make an examination reservation after they have been approved.
