Real Estate License / Working Under a Managing Broker

[Chris Danczyk]

Hello this is my first BP post so thank you in advance for any suggestions or advice! I am an aspiring REI and have decided to pursue a Real Estate License as the first step. There are two major reasons for this decision: 1. Number one I can potentially make a little extra money to help fund the beginning of my investing career. I already have a full time job that probably requires ~50 hours/week. I am a successful professional but with a wife and five children even my good income still makes it challenging to save up enough cash to feel comfortable starting down this road. So with the ability to potentially make short term income selling RE will help fund my investment deals and allow me a unique opportunity to learn more of the details surrounding these type of transactions. 2. Knowledge gained going through the class and the ability to have MLS available to me at all times. So the way I understand it now in Illinois (my state of residence and investing) there is a 75 hour online course, 15 hours interactive portion. Then I will be allowed to schedule and take the test. But before actually getting my license I will need to work under a Managing Broker. My question is if I already work a full time day job is doing Real Estate sales “part time” even possible? If it is will it be difficult to find a Managing Broker who wants to work with someone who will have limited amount of time available? Thank you so much for any feedback! I have been listening to BP podcasts for last two years and read many RE books but it does not take the place of actual conversation, so I am glad to officially be a part of the BP community! Chris

[Russell Brazil]

Plenty of brokerages take on part time agents. 

After you pass the exam, probably 25 brokerages will call you and try to sell you on their brokerage.