Should I become a RE agent?

7 Replies

Hi everyone.

I'm a new RE investor in Oak Lawn Illinois. My focus is rental properties but I haven't purchased any yet. I'm still in the learning phase and trying to save up money got the first deal. I know there's ways of doing it Without my personal money but I don't feel educated enough yet. Anyway I wanted to know if I should become a RE agent?

I wanna know how long does it take to complete the course and how much it’ll cost me. I did look it up online but I also heard you don’t necessarily need to take coursework. I’m not sure. Thank you for your time.

@Julian Fernandez

Really quick Google search shows this looks looks to be Illinois' formal website:

https://www.idfpr.com/profs/RE...

Looks like you use the terms Broker and Managing Broker as opposed to Broker and Agents.  Looks likeyou have a 75 hours of pre-licensure and 45 hours of post licensure training.  I'm sure you can lookup a coursework costs.  As with most to all States, the coursework should be mandatory.  Furthermore, since you say you don't feel educated enough, you should probably take the coursework to get the education....

Here are a couple of prior discussion threads regarding becoming licensed as an investor.  Good luck.

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

@David M.

Thanks for the links to those posts. I have yet to contact a real estate agent to see I can work closely with them. Seems like a better option because like the other post, I too am not interested in the agent work. I'm only interested in the benefits that comes with being an agent. Again thank you. I'll be reaching out to agents in my area.

If you are not going to practice real estate as an agent for other people, I would not recommend getting licensed. There are monthly dues and fees that you would be required to pay and most states require annual classwork to maintain an active license. If you are just wanting to for your personal investing, I dont think the juice is worth the squeeze. Just my 2 cents.

@Sean McDonnell

Thank you for your response. I have ideas now of how to work around that. Creating strong relationships with agents so that we can help each other only scared me because right now I have nothing to bring to the table and I don’t want to seem like a free loader or anything. What I do know about myself is that I’m a fast learner and math used to be my favorite subject in school. I will analyze deals as much as I can and get better at it, that way I can be an asset for people. I will have something some people would want.

Anyway, I’m rambling on. Again, thank you for your response.

@Julian Fernandez

You aren't freeloading off your agent. While it might be the start of you holding the team, you are the agent's client. Just simply buying a property is what "you bring to the table." Agents get paid their commission for closing a real estate transaction. That's the nature of the business.

@Julian Fernandez - I did and super happy I did.  I am mainly an investor but having your license is great especially in Illinois.  

Gives me access to the MLS and can make extra money showing friends and family houses. Plus it gives me an inside edge on other investors since I can show my own properties.