Suggested Approach to Obtain Real Estate Licence

General Real Estate Investing
9yFollow

Suggested Approach to Obtain Real Estate Licence

Michael Svoboda
New to Real Estate · Brownsburg, IN · Member since 2017 · 31 posts · 16 votes

Hello BP community. We are newbies and still learning the terms and getting educated in the business. My wife and I are both in early 50s and the kids are out of the house and looking to downsize our current home in a year and then get in the real estate world to gain more revenue streams. Either my wife or me plan on getting our real estate licence in IL (Bartlett, suburb of Chicago). 

We are seeking your advice the best way to obtain a RE licence. Since I work full-time and my wife is a flight attendant her schedule is more flexible we think it makes sense for her to go through the process. Can you please offer guidance on best way to obtain a licence. She's an excellent student and we think that going on line would be the best approach however when I google we're paralyzed with options. Any help or direction you can provide is much appreciated.

If i am in the wrong forum, please point me in the right direction. I been listening to BP podcasts and went to one meet n greet so very early in the process. Open to all and any suggestions.

Thanks again. Michael & Jodi

0Reply
12 views

9 Replies

Jump to latestLatest
  • Jeff Rabinowitz
    Investor/Landlord · Farmington Hills, MI · Member since 2011 · 1k+ posts · 1k+ votes
    9y

    RE investing involves many decisions. You must decide on properties to offer on, decide what price to offer, decide the rental rate and terms, decide which tenants to accept, decisions , decisions, decisions. It seems like you have decided an online course would be most convenient but are agonizing over which to choose. Stop. There may be slight differences in price and slight differences in quality but that is trivial. You must take the course to take the licensing exam. It is not that difficult to pass a licensing exam. (If you doubt that, interview a few real estate agents. Did any of them strike you as geniuses?) If this decision seems so difficult it may be wise to evaluate why you want to do it, whether you are cut out to be an investor.

    0Reply
  • Eddie Egelston
    Residential Real Estate Broker · Crystal Lake, IL · Member since 2012 · 124 posts · 94 votes
    9y

    Hi Michael & Jodi,

    I know there are a ton of options for real estate education. I personally believe an in-person classroom is by far the best way to get licensed. Especially if you are new(er) to the business. Just passing a test online with no teacher interaction would not be very valuable.

    My very biased suggestion is to contact my broker Baird & Warner to see if they have a class that fits your schedule. Link HERE

    When I got licensed 10 years ago it was through community colleges and I had a good experience. College's schedules might not be as conducive to working adults however, since they are geared towards students.

    It sounds like you both plan to be involved in your real estate dealings, and if that is the case I would recommend both of you attend the classes. It just seems a bit strange to me that only one of you would gain the knowledge you both might need... even if only one of you gets the license. That's my 2 cents.

    0Reply
  • Michael Svoboda
    OP
    New to Real Estate · Brownsburg, IN · Member since 2017 · 31 posts · 16 votes
    9y

    Thank you @Jeff Rabinowitz for taking time to respond. I'm learning more each day there are many ways to dive into RE investing. My wife are focused on buy and hold and knowing that current savings approach is ok but this has already been one of my goals and I won't know unless we try. I plan on attending more meet n greet provided my BP events area so I will keep learning and asking questions. Again, thank you for your time and candidness. 

    @Eddie Egelston, thank you for the link and suggested way to learn the process. i agree that it makes sense for both to attend but just need to see how our schedules can work to make that happen. I know a class is ideal approach however do you have suggestion on an online class and we can review the same material presented? I agree it makes sense for both of us to be learn the in and outs of the process. 

    We will definitely look into the B&W link too!

    0Reply
  • Eddie Egelston
    Residential Real Estate Broker · Crystal Lake, IL · Member since 2012 · 124 posts · 94 votes
    9y

    @Michael Svoboda Sure Win CE is the place that I have always renewed my license. I believe they offer an online course for getting a license.

    0Reply
  • Van Blackman
    Real Estate Broker · Chicago, IL · Member since 2015 · 122 posts · 103 votes
    9y

    @Michael Svoboda

    Hi Michael! Excited for you and your wife to get started! And congrats on joining BP! 

    I just moved to Chicago from Texas. I'm now licensed in 3 states. Even though it's a pain in your side to get it done, obtaining your license is advantageous to anyone, especially investors. Believe me, once you have your RE license, it opens up the door in terms of opportunities you'll be coming across. Even though your schedule isn't as flexible as your wife's, I'd look into getting licensed myself if I were you. The more the merrier.

    I took my online courses through Real Estate Express (https://www.realestateexpress.com/) - FYI, I have no affiliation with these guys, just had a good experience. You can go as slow or as quick as you'd like. And it's online. Once you complete the course, you'll need to take a proctured exam for the online course. Then you'll need to follow up with a 15-hour live webinar (I did mine at https://www.webex.com) - again, no affiliation. After that, you'll be asked to take a smaller proctured exam, and then you'll be ready for the final state exam! 

    All in all, this stuff is not rocket science. It's a bit of a time commitment, but I was able to get it done with a full-time job as well.

    Let me know if you need anymore recommendations! And good luck to you guys in the future! I'd be happy to help out any way I can.

    Best,

    Van

    0Reply
  • Mark AinleyBusiness Member
    Property Manager · Roselle, IL (Chicago Suburb) · Member since 2013 · 2k+ posts · 1k+ votes
    9y

    @Michael Svoboda Welcome Michael to BP and good to see more Bartletteans on here. I would recommend Vince DePaul and Your House Acadamy out of Bloomingdale. 

    No affiliation:

    https://www.google.com/search?site=&source=hp&ei=7...

    [email protected]630-781-6744Podcast Guest on Show #72
    GC Realty & Development LLC4.61078 Reviews
    WebsiteView Page
    0Reply
  • Frank Grigus Jr
    Coal City, IL · Member since 2017 · 34 posts · 14 votes
    9y

    My wife got her license using Coldwell's online course.  It was an accelerated 6 week course, class was twice a week in the evening.  What really turned her on is you logged into class and used your computers webcam to interact with students and ask questions as if you were actually sitting in a classroom.  The class is revolving so one can start anytime and you may repeat parts or all of the class if need be.  Make sense?Priced well too, $500 included all books.  

    FYI, we have no affiliation with Coldwell.  This program allowed her to work full time and obtain her license.  Was a very god suit for us.  If you have any other questions @Michael Svoboda feel free to PM me. Goodluck!! 

    0Reply
  • Michael Svoboda
    OP
    New to Real Estate · Brownsburg, IN · Member since 2017 · 31 posts · 16 votes
    9y

    @Eddie Egelston thanks again for your response and  passing on your knowledge. 

    Hi @Van Blackman please to meet you and agree after hearing your input and others on this thread I think its a better approach for both of of to go at the class at the same time. Still working out the details how to make it happen.  I will keep you in mind for further recommendations too. Best

    @Mark Ainley the website you directed me looks very promising and were going to review with my wife when gets back home.

    @Frank Grigus Jr, many thanks for your quick response and I am sure I will still have many questions and will be sure to ping you! 

    Thank you ALL for your input and its nice to be able to ask a questions and get my responses/perspectives. 

    Sincerely, 

    0Reply
  • Alex Bok
    Real Estate Agent · Chicago, IL · Member since 2016 · 283 posts · 71 votes
    9y

    @Michael Svoboda many have said this but the classroom is a great way to get started and really learn especiallly if you are not a self study type person. One thing I would recommend is to purchase a study guide I have pm'ed you the one I ended up using because I am not sure what the rules on BP are on posting secondary sites. But the exam guides are very helpful for the test especially since it is multiple choice

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free