Recommended Managing Broker in Chicago : Preparing for Real Estate License
Ashwin AbichandaniPro Member
Real Estate Agent · Chicago · Member since 2020 · 23 posts · 20 votesRecommended Managing Broker in Chicago : Preparing for Real Estate License
Most Popular Reply
Lender · Chicago IL · Member since 2020 · 357 posts · 229 votes
3yGreat to see you here, it's been a minute since we last connected. :) I'm a licensed agent and hang my license with Greystone Realty. Greystone is a newer, boutique, investor driven agency founded by a local broker / real estate investor formerly with Kale. What I love about Greystone is EVERY agent is an investor first, then an agent. I got my license to be able to wholesale legally and buy/sell my own developments and save on the commission. I wasn't looking to pay a monthly desk fee--and was in search of a place that fostered community, personal growth and self development, and outstanding mentorship and guidance. Greystone was, and is, the clear winner for me on all accounts. If you're interested in connecting with the owner, please feel free to message me. Whatever you decide, I recommend interviewing a few brokerages to find the perfect fit. Good luck! :)
Jennie Berger
Property People
14 Replies
- Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes3y
I'd look at Keller Williams for a few different reasons.
#1 We have a military division started last year to help people PCSing and also transition from service to real estate. That's a group you might want to get involved with. It's new, so still growing and maybe you could be part of that growth in your area.
#2 Large group of investors in the company...with a new focus on wealth building, not just earning real estate commission income. I don't think there are any stats I've ever seen, but I would argue that there are probably more real estate investors at KW than any other company, so plenty of learning opportunities if you seek those out. Also if you haven't read the KW book by Rick Vallani called FLIP, you should. Great book I call the Green book and great book to gift clients. He's out of Austin and flipped over 1000 houses if I remember correctly. Also Jimmy McKissick wrote a book called HOLD about buy and hold real estate. At one time he had over 100 rental homes. His son's best friend is actually teaching a class in our market center tomorrow about his experiences.
#3...plenty of other reasons, but those are too good ones.
- 3yHamp Lee IIIPro MemberReal Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
It all depends of your current situation, needs, and real estate goals (niche).
Right now, I’m active duty Air Force, so I was looking for a cloud-based brokerage without a lot of fees since I’m part-time.
With your goals to continue investing, you can also seek out brokerages that are specifically investor-focused. That way, you can learn more about working with investors and real estate investing strategies to apply to yourself.
I hope this helps.
I wish you all the best.
- Realtor · Chicago, IL · Member since 2021 · 4 posts · 6 votes3y
Quote from @Bruce Lynn:
I'd look at Keller Williams for a few different reasons.
#1 We have a military division started last year to help people PCSing and also transition from service to real estate. That's a group you might want to get involved with. It's new, so still growing and maybe you could be part of that growth in your area.
#2 Large group of investors in the company...with a new focus on wealth building, not just earning real estate commission income. I don't think there are any stats I've ever seen, but I would argue that there are probably more real estate investors at KW than any other company, so plenty of learning opportunities if you seek those out. Also if you haven't read the KW book by Rick Vallani called FLIP, you should. Great book I call the Green book and great book to gift clients. He's out of Austin and flipped over 1000 houses if I remember correctly. Also Jimmy McKissick wrote a book called HOLD about buy and hold real estate. At one time he had over 100 rental homes. His son's best friend is actually teaching a class in our market center tomorrow about his experiences.
#3...plenty of other reasons, but those are too good ones.
KW One Chicago used to limit the number of personal transactions you could do in a year to 3 (2020ish). I'm not sure if that's still the case. Depending how many flips (buy/sell) you plan to do in a year, that can be a quick number to hit. I was previously with them but joined a virtual office with low fees just like @Hamp Lee III above. The TX location @Bruce Lynn is in may offer different rules from Chicago.
- Real Estate Agent · Chicago, IL · Member since 2021 · 62 posts · 86 votes3y
Quote from @Ashwin Abichandani:
Greetings BP members,
Currently, I am in the midst of acquiring my Illinois Real Estate Agent license and am situated in the Lincoln Park region of Chicago. My past experience encompasses SFH flips and a history of military service.
As a new agent, I am looking for counsel and suggestions on which Managing Broker to join in order to enhance my education and progression in the real estate sector. Additionally, I am interested in continuing to acquire rental properties and participate in flips.
Thank you in advance
Ashwin
Hey Ashwin!
I'm with The Axon Group, which is the top producing eXp team in IL. All of our members are either investors themselves or have extensive knowledge about RE investing. We are investor focused with a ton of training and learning opportunities, a great structure for acquiring and converting leads, team leaders who are constantly focused on getting new business for us, a nice commission split structure, and much more. I've been very happy since making the switch a little over a year ago.
Would be happy to hop on a call with you to discuss more!
- 3yEudith VacioPro MemberReal Estate Agent · Chicago & NWI · Member since 2015 · 860 posts · 521 votes
Similar to @Tom Casey, I am also with eXp realty and I love them, I joined because the commission structure is great - $16,000 cap and 80% commission. I am solo but I am licensed in two states so it works out great for me, just less paperwork, filing that I have to do. But definitely would consider if you're planning on being an agent investor!
- Lender · Chicago IL · Member since 2020 · 357 posts · 229 votes3y
Great to see you here, it's been a minute since we last connected. :) I'm a licensed agent and hang my license with Greystone Realty. Greystone is a newer, boutique, investor driven agency founded by a local broker / real estate investor formerly with Kale. What I love about Greystone is EVERY agent is an investor first, then an agent. I got my license to be able to wholesale legally and buy/sell my own developments and save on the commission. I wasn't looking to pay a monthly desk fee--and was in search of a place that fostered community, personal growth and self development, and outstanding mentorship and guidance. Greystone was, and is, the clear winner for me on all accounts. If you're interested in connecting with the owner, please feel free to message me. Whatever you decide, I recommend interviewing a few brokerages to find the perfect fit. Good luck! :)
Jennie Berger
Property People
- Realtor · Chicago, IL · Member since 2021 · 4 posts · 6 votes3y
Quote from @Jennie Berger:
Great to see you here, it's been a minute since we last connected. :) I'm a licensed agent and hang my license with Greystone Realty. Greystone is a newer, boutique, investor driven agency founded by a local broker / real estate investor formerly with Kale. What I love about Greystone is EVERY agent is an investor first, then an agent. I got my license to be able to wholesale legally and buy/sell my own developments and save on the commission. I wasn't looking to pay a monthly desk fee--and was in search of a place that fostered community, personal growth and self development, and outstanding mentorship and guidance. Greystone was, and is, the clear winner for me on all accounts. If you're interested in connecting with the owner, please feel free to message me. Whatever you decide, I recommend interviewing a few brokerages to find the perfect fit. Good luck! :)
Jennie Berger
Property People
You could learn A TON from Jennie! I want to take her to coffee and pick her brain! She is all over the new construction space! :)
- Investor · San Diego, CA · Member since 2016 · 1k+ posts · 975 votes3y
@Jonathan Klemm This question is right up your alley!
- Member since 2021 · 20 posts · 16 votes3y
I started just a few years ago wanted to focus on investments as a licensed agent. I first joined Kale Realty (which is in your area). They're a 100% commission company with great people and great for investors. I was there for a year and then switched to eXp Realty, and I've been so happy since. I'm part of a real estate investing group that includes some of the founders of the Fortune Builders Group. Along with the tons of training from the eXp company, this group also gives me the training, tools and connections to leverage my license as an investor. It's not an actual real estate team, so you don't pay extra commission to a team leader, but you certainly still can join a local team if you prefer. Regardless you are paired with a local mentor in your area to help you through your first few deals. As you may know, eXp is cloud based and perfect for people who a tech savy and like working virtually.
Anyways, I can only speak to these 2 companies, since I haven't worked with any other brokerages. There are so many good ones out there. Just do you research and talk to a few people from each company to get a good feel.
Wish you all the best in your career and please don't hesitate to reach out if you have any questions!
- Lender · Chicago IL · Member since 2020 · 357 posts · 229 votes3yHey Jon, Fortune Builders Mastery Student here.:) Would love to know more about this group you speak of that has some of the FB founders in it. Thanks!
Quote from @Jon Carag:
I started just a few years ago wanted to focus on investments as a licensed agent. I first joined Kale Realty (which is in your area). They're a 100% commission company with great people and great for investors. I was there for a year and then switched to eXp Realty, and I've been so happy since. I'm part of a real estate investing group that includes some of the founders of the Fortune Builders Group. Along with the tons of training from the eXp company, this group also gives me the training, tools and connections to leverage my license as an investor. It's not an actual real estate team, so you don't pay extra commission to a team leader, but you certainly still can join a local team if you prefer. Regardless you are paired with a local mentor in your area to help you through your first few deals. As you may know, eXp is cloud based and perfect for people who a tech savy and like working virtually.
Anyways, I can only speak to these 2 companies, since I haven't worked with any other brokerages. There are so many good ones out there. Just do you research and talk to a few people from each company to get a good feel.
Wish you all the best in your career and please don't hesitate to reach out if you have any questions!
- Lender · Chicago IL · Member since 2020 · 357 posts · 229 votes3yThank you🩵🙏. That's kind of you to say!
Quote from @Kathleen Collins:
Quote from @Jennie Berger:
Great to see you here, it's been a minute since we last connected. :) I'm a licensed agent and hang my license with Greystone Realty. Greystone is a newer, boutique, investor driven agency founded by a local broker / real estate investor formerly with Kale. What I love about Greystone is EVERY agent is an investor first, then an agent. I got my license to be able to wholesale legally and buy/sell my own developments and save on the commission. I wasn't looking to pay a monthly desk fee--and was in search of a place that fostered community, personal growth and self development, and outstanding mentorship and guidance. Greystone was, and is, the clear winner for me on all accounts. If you're interested in connecting with the owner, please feel free to message me. Whatever you decide, I recommend interviewing a few brokerages to find the perfect fit. Good luck! :)
Jennie Berger
Property People
You could learn A TON from Jennie! I want to take her to coffee and pick her brain! She is all over the new construction space! :)
- Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes3y
Hey @Ashwin Abichandani - If you are looking for education and training I'd recommend working with one of the big players like Keller Williams or Coldwell Banker.
We should definitely connect...I have a Chicago brokerage that I keep on the low low. Our team is made of either real estate investors or wholesalers.
Either way, let's connect and talk through your situation I'd love to help.
Quality Builders4.966 Reviews - Investor · UT · Member since 2021 · 53 posts · 20 votes3y
Quote from @Ashwin Abichandani:
Greetings BP members,
Currently, I am in the midst of acquiring my Illinois Real Estate Agent license and am situated in the Lincoln Park region of Chicago. My past experience encompasses SFH flips and a history of military service.
As a new agent, I am looking for counsel and suggestions on which Managing Broker to join in order to enhance my education and progression in the real estate sector. Additionally, I am interested in continuing to acquire rental properties and participate in flips.
Thank you in advance
Ashwin
Taking a look at eXp realty is worth while! They are cloud based and embody the investor mindset. If you're curious to learn more I can send you a link for a free zoom meeting that will have 100s more like you who want to learn more before making a decision!
- Real Estate Agent · Chicago · Member since 2020 · 23 posts · 20 votes3y
I just wanted to say a big thank you to all of you for your input and suggestions. I appreciate your feedback as it has been instrumental in helping me make a well-informed decision. Currently, I'm focusing on getting my license and then interviewing a few brokerages to see which is the best fit for me. Thanks again for all your support!
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