(**) Disclosure: This post may contain affiliate links, meaning RealEstateCareerHQ.com will get a commission if you decide to make a purchase through the links, but at no additional cost to you.
Property management can be a rewarding career with great advancement opportunities. If you are thinking to become a property manager in Missouri, this is the perfect guide for you!
To become a property manager in Missouri, an applicant must be obtain a real estate license. The individual can be a managing broker or a real estate salesperson who works under the supervision of a broker. The real estate salesperson licensee is required to be at least 18 years old, complete 24-hour of pre-license education and the MREP course, pass the salesperson exam, submit an application, a fee and a background check to the Missouri Real Estate Commission (MREC).
As a property manager, your duties may include finding and screening prospective tenants for a property, negotiating the lease terms. You could also be responsible for rent collection, property inspection, maintenance, repair, providing updates, and communicating with the property owner.
In this guide, I will focus on the steps on getting the “real estate salesperson” license, which is the entry license level. So you may begin your property management career by joining a licensed brokerage firm. I will also cover the income updates and other FAQs about this profession.
But before we start, I want to give a brief disclaimer. This post is not intended as legal advice or state/federal real estate training. It is for general information only. Please always follow your State laws and best practices.
When choosing a real estate school, I prefer one where you could take the courses online. This way, you could study at your own pace whenever and wherever. The CE Shop is a trustworthy real estate education provider. You may click here to see whether they offer pre-licensing course in your state. (**)
7 Steps to Become a Property Manager in Missouri
Step 1: Meet the eligibility requirement
- Citizen of the United States or lawfully admitted alien
- At least 18 years of age
- Have a valid Social Security Number
Step 2: Complete the pre-license education
You are required to take 48 hours of course which covers different real estate concept. It can be taken in a classroom setting or online, but it must from an approved education provider. The course contents would include:
- Missouri License Law
- National Math
- License Law and Math Practice Exam
- National Ownership
- National Brokerage
- National Finance
- National Valuation
- National Practice Exam
- Course Final Exam
In addition, you are required to take 24-hours of Missouri Real Estate Practice Course (MREP). But you may take this before or after the exam.
Step 3: Pass the Missouri Real Estate Salesperson Exam
The Missouri Real Estate Salesperson Exam consists of two portions, the National portion and State portion. There are 140 questions and you’ll be given 4 hours in writing it. The test is administered by the PSI Services.
To register, you have to complete their online exam registration and provide them with the required documents. You may also call them at 1-800-345-6559. Also, there is a $65 examination fee which could be paid by credit card.
On the day of the exam, you must bring two pieces of valid ID to the test center. The primary one must be a government issued ID with your name, signature and photo on it. (i.e., driver’s license, state ID card, passport.). The second piece needs to display your name and signature. (i.e.: SSN card, employment/student ID.)
You can also bring an allowable calculator. You may click here to check what type is allowable and what’s not.
The exam is to test your knowledge on the real estate topics that are covered in the pre-license education. When you are studying for the exam, it is wise to spend more time on sections that are more heavily weighted. You can find more details about the exam later in this post.
The Colibri is the online school that I like. Their Exam Prep have helped thousands of students pass their exam on the first try. They even have a “Pass or Don’t Pay” Guarantee. That’s why confident they are with their program. You may click here to view their exam prep. (**)
Step 4: Register with the Missouri Real Estate Commission
Once you pass the exam, you must submit the license application within six months. There is a $40 license fee.
I have searched through their website, but cannot locate the real estate salesperson application. The best would be to contact the Missouri Real Estate Commission directly and request it. I’ll include their contact details later in this post.
Step 5: Go through a background check
The Missouri Real Estate Commission is part of the Missouri Division of Professional Registration, which responsible for issuing licenses to real estate salesperson and brokers. To protect the public interest, they will conduct a criminal background check on you.
You’ll also need to submit the fingerprint for a criminal history background check. It must be done with an approved vendor before sending an application. Currently, the approved vendor is IDEMIA (IDENTOGO). There is a fee of $41.75. The MREC’s four-digit registration number is 0004.
You need to register with the Missouri Automated Criminal History Site (MACHS) first or call them directly at 1-844-543-9712 for.
Generally speaking, the fingerprinting process takes less than 10 minutes and MREC will receive the fingerprint results within 3 to 5 days.
Step 6: Work with a licensed property management company
After you pass the exam, you must work with a property management company who holds the managing broker license in Missouri. This is the firm who would sponsor your real estate license.
However, not all brokerage provide property management services to their clients. Most brokerages focus only on the buy-sell side of the business. So make sure you find one that specializes in property management.
At the time that I’m writing this guide, I can see online job postings looking for property managers in Missouri. Many are from St.Louis and Kansas City. You may search through job forums such as ZipRecruiter, Glassdoor, or LinkedIn.
There are many property companies out there, but all are suitable for you. As you start in this industry, it will help if you work for a company that could provide you with proper training and mentorship. And you would likely start out working as an assistant to a property manager.
Rather than having you reinvent the wheels, an established property management company can show you a standard procedure in working with clients.
Step 7: Maintain the salesperson license
All real estate licensee must renew their license before Sept 30 of every even numbered years. (Fee $40). You may submit the application by mail or online.
Furthermore, you are required to complete 12 hours of CE courses during each two year license period. Of which, a 3-hour core course in Real Estate Ethnics is required.
Here’s a snippet of what a property manager thinks about this career
“I’ve been a property manager for six years, and for three years before that, I was an admin and then an assistant property manager. Being a property manager is an excellent career. The schedules are long days but flexible. If you are a parent, you will be able to attend your kid’s functions as long as you are willing to work late to make up. It’s not a micro-managed industry, so you must have the drive and high standards all on your own, else you won’t last very long. The mistakes are bigger and cost more money than other real estate lines, but the pay is great, and you can create the life balance you need if you work at it.
My advice to someone wanting to get into property management is to learn everything you can as soon as you can. Take advantage of resources and lean on experience people’s knowledge and experience.”
– Nandi Cavil, Commercial Property Manager at Cushman & Wakefield
Here’s another post where you can read more on Nandi’s thoughts about the property management profession. In there, you can find my research and analysis on this career path and valuable insights from other property managers.
FAQ on being a Property Manager in Missouri
1) How long does it take to become a property manager in Missouri?
It takes approximately four months to become a property manager in Missouri. But it also depends on the time it takes you to complete the pre-license course, exam, background check, application, and get employed by a licensed property management firm.
You may speed up in getting in becoming a property manager by taking online courses. This way, you’ll have the flexibility to finish the pre-licensing education at a quicker pace.
2) How much does it cost to become a property manager in Missouri?
It costs approximately $455 to become a property manager in Missouri. That is the cost to get the real estate broker license and here is the breakdown:
- Pre-licensing courses fees – $150 to $300 (approximately)
- Exam fee – $65
- Application fee- $50
- License fee – $40
3) Can you become a property manager with a felony in Missouri?
Although it is possible for an applicant with felony to obtain a real estate license and become a property manager in Missouri, it is subjected to the Real Estate Commission’s evaluation.
They typically be more alarmed on incidents that impact the applicant’s honesty, trustworthiness, character, and integrity. However, the MREC will denial an application if the offense is one outlined in 339.100.5 and 556.061. Here is more information about criminal convictions.
But don’t get discouraged as everyone has a past. The most important is that you can demonstrate that you will serve the public in a fair, honest, and open manner.
Here’s another post that covers how to apply for a real estate license with a felony record. In there, you’ll find practical ideas which could help your application.
4) How much do property manager make in Missouri?
Property managers in Missouri make an average annual income of $96,649. It typically range between $83,897 and $111,191. (*) Your earning as a property manager would depend on your skills, knowledge and experience in managing the properties. The type and number of real estate in your managing portfolio may also affect your compensation.
At the beginning phase of your property management career, you could be working as an assistant for a property manager. So your earning could be limited at that time.
But once you have developed the necessary skillset and demonstrated your ability to work independently, there should be a significant improvement to your earning.
(*) Source: Salary.com May 27, 2021
Here’s salary guide you may be interested. In there, you’ll find the income figures for residential and commercial property managers. What makes one earn more than others? How do education, experience, and certification play a factor in earning?
5) I have more questions about the Missouri real estate license, whom should I contact?
You could contact the Missouri Real Estate Commission:
- Address: 3605 Missouri Boulevard, P.O. Box 1339, Jefferson City, MO 65102-1339
- Phone: 573.751.2628
- Fax: 573.751.2777
- Email: realestate@pr.mo.gov
5 Practical Strategies to Become a Successful Property Manager in Missouri
1) Obtain the real estate license
Although there are certain activities you may perform without a real estate license, the things you can do are very limited.
Once you have a real estate license, you may work under a licensed managing broker in providing key components of property management. For example, rent, list, negotiate property rental agreement, rents collection.
If you want to move up in the field, getting a real estate license is a “must”.
Since you are reading up to this point, I bet you must be interested in becoming a property manager. If that requires you to get a real estate salesperson license in your state, your first step is to complete the pre-license education. You should select one that has an excellent reputation and a long-term track record of satisfying students. The Colibri is exactly that! You may click here to check it out yourself. (**)
2) Get enhanced education on property management
You could be feeling lost when starting in this field. One of the best to equip yourself to get the proper education from a trusted provider.
You may also consider taking the following courses to equip yourself with the property management knowledge. They are offered by Institute of Real Estate Management (IREM). IREM is an affiliate of the National Association of REALTORS®.
- Managing Residential Properties (**)
- Managing Commercial Properties (**)
- Managing Condominium and Homeowners Associations (**)
Even though they are not part of the pre-license education requirement, your enhanced knowledge will help to set you apart from others in the industry.
3) Stay up-to-date with the real estate laws
Property managers are constantly tasked with new responsibilities and challenges. With the rise of online rental applications, environmental health and safety requirements, it’s important for property managers to be up-to-date on real estate laws and regulations.
For example, can you charge an application fee? Is it okay to run a background check on to prospective tenants? What happen if the tenants violate the lease agreement? Who will be responsible for the maintenance, repair or damages?
Here are some real estate laws and programs you should become familiar with:
| Code | Description |
| 441.050 | Tenancy from year to year, how terminated |
| 441.060 | Tenancy at will, sufferance, month to month, how terminated–judgment of eviction, how effectuated, landlord’s liability |
| 441.234 | Tenant may deduct cost of repair of rental premises from rent, when–limitations |
| 441.630 | Duties of occupant |
| 441.710 – 441.880 | Eviction Laws |
| 441.92 | Housing Laws for Victims of Domestic Violence |
| 41.944 | Certain military service, termination of lease–requirements |
| 535.185 | Tenant to be furnished address of person managing property and address to receive notices and service of process–post office box address, procedure–violation, effect |
| 535.300 | Security deposits, limitation — holding of security deposits, requirements — return of deposit or notice of damages, when — withholding deposit, when — tenant’s right to damages — security deposit defined |
| SB 753 | Mobile Home and Tenants Rights Act |
| Section 1018 of Title X | Federal Lead Paint Disclosure Act |
PropertyManagement.com has an excellent resources page which covers the above in details. You can find their link in the reference section at the end of this post.
4) Network with other real estate professionals
You may consider joining the National Association of Residential Property Managers (NARPM). This allows you to connect with other property managers, thus learn from their valuable experience and share ideas with one another. You will also find updates on the housing markets, changes to the laws and regulations.
Another group you may consider is the Missouri REALTORS. It consists of mostly real estate professionals. If you plan to run your own property management company, this can be a great referral source for your business. They also have great resources such as the classes, events, housing reports and industry updates.
5) Start your own property management company
Rather than working for someone else, you may consider getting a real estate broker license and start a property management company. This allows you to hire other licensed property managers, thus, lead to a scalable business model.
However, running a company is very different from working as an employed property manager. You need to figure out all the different aspects of the business, such as marketing, branding, prospecting, hiring, training, and accounting.
The expenses will also be a lot higher. In addition to the broker license, you also need to account for business insurance, staff’s salary and benefits, office rent, furniture, office supplies, software, many more.
To obtain a real estate managing broker license in Missouri, you must:
- Have at least 24 months of active real estate work experience in the past 30 months;
- Complete 48 hours of pre-license courses from an approved education provider;
- Pass the Missouri broker exam;
- Submit an application and a license fee to the Missouri Real Estate Commission;
- Complete CE and license renewal requirement
If you are reading up to this point, I bet you must be interested in getting a real estate license. Your first step is to complete the pre-licensing courses. You should select one that has an excellent reputation and long-term track record of satisfying students. The Colibri is exactly that! You may click here to check it out yourself. (**)
Disclaimer: The information in this post is for general information only, and not intend to provide any advice. They are subjected to change without any notice, and not guaranteed to be error-free. Some of the posts on this site may contain views and opinions from individual not related to JCHQ Publishing. They do not necessarily reflect our view or position.
(**) Affiliate Disclosure: Please note that some of the links above are affiliate links, and at no additional cost to you. Our company, JCHQ Publishing will earn a commission if you decide to make a purchase after clicking on the link. Please understand that we include them based on our experience or the research on these companies or products, and we recommend them because they are helpful and useful, not because of the small commissions we make if you decide to buy something through the links. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.
Reference:
- Salary.com – Property Manager in Missouri (source)
- National Association of Residential Property Managers (NARPM) (source)
- PropertyManagement.com – Missouri Property Management Laws (source)
- Missouri Real Estate Commission (Source)Approved Education Provider (source)
- Exam Information (source)
- MREC renewal (source)
- Missouri Real Estate Examination Program Candidate Handbook (Source)
- PSI – Missouri Real Estate Examination Program (source)
- AMP Assessment Center Guidelines for Acceptable Calculators (source)
- A National Job Analysis of Real Estate Licensees Summary Report (source)
- Missouri REALTORS ® (source)
