To Get Real Estate License In Illinois... Or Not?

To Get Real Estate License In Illinois... Or Not?

Marietta, GA · Member since 2013 · 53 posts · 4 votes

Hi BP community. I was wondering if anyone else has experienced something similar to this.

I just finished my first day of class for getting my Illinois Real Estate Broker license. So far I'm loving it, and I already learned a ton from my first day. My goal with getting my license is actually more to learn the technical knowledge, vocabulary, and background of real estate before jumping straight into investing.

My issue is that in Illinois (maybe in other states too) in order to receive the actual license, you need to be sponsored by a Managing Broker. I'm open to the idea of becoming a practicing Real Estate Agent, but again, that is not my main goal.

My question is, has anyone gone through the Real Estate license classes purely for the knowledge, but regretted not taking the test/being sponsored by a Managing Broker in the end? Is it wise to "go all the way" even if I might not actually practice at all?

Any advise or input would be much appreciated!

0Reply
126 views

Most Popular Reply

Residential Real Estate Agent · Cookeville, TN · Member since 2013 · 1k+ posts · 948 votes
13y

@Casey Blakely - Casey, you said something like "whether I would actually have to work for them (broker I assume)".

You don't understand. Realtors don't work for their broker. They work for themselves (for the most part). The broker is not your boss. You work as much or as little as you want to. The broker's job is to supervise you and to make sure that you don't break the law. Not to tell you what to do or when to do it.

See this reply in the discussion

29 Replies

Jump to latestLatest
  • Real Estate Investor · Chicago, IL · Member since 2008 · 1k+ posts · 218 votes
    12y

    Education is always a good thing. Having access to the MLS is positive as well. I would just warn against falling into the trap many have done. They get into REI, decided to get their Agent/Broker license. Then they become so caught up in being an agent, they leave behind their desires of being an investor.

    Good luck to you.

  • Rental Property Investor · Milwaukee, WI · Member since 2013 · 281 posts · 133 votes
    12y

    I'm doing the same thing here in Milwaukee, and even if the Lic is for investing making a few sales would not hurt. The blog entry by @J Scott is pretty and helped me.

    http://www.biggerpockets.com/renewsblog/2010/02/24/should-you-get-your-real-estate-license-investors/

  • Involved In Real Estate · Pittsburgh, PA · Member since 2014 · 6 posts · 1 vote
    12y

    Get your license...plain and simple. By doing this you open up your ability to do deals without feeling like you are "in the shadows" and avoiding the law. If you get with a reputable managing broker they will stand by you and guide you through issues that you may have so that you do not mess it up and cause yourself a lot of headache.

  • Rental Property Investor · Little Village, Chicago · Member since 2018 · 19 posts · 1 vote
    7y

    @Bryan L. sounds like a sweet office setup! what kind of fees or commissions does your brokerage require of you?

Join the conversationCreate a free account to reply, vote on answers and follow this thread.