Agent2Agent in Chicago>Question Details

Mshap3, Home Owner in Chicago, IL

Where is the best place to hang your license in Chicago if you are only looking to use it for personal opportunities?

Asked by Mshap3, Chicago, IL Thu Apr 18, 2013

More specifically, I am looking to use my license to purchase investment properties as well as help friends and family purchase their homes. I would be working as a broker part time and not looking to go with a brokerage that charges for advertising, desk fees, etc. However, as I am a new broker, I am looking for a brokerage that would provide help when needed as well as the necessary documents/contracts that I would require.

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12
You want the best of both worlds which may be difficult to find. Be careful you don't save yourself a few thousand $$$ and then lose bigtime down the road due to inexperience in your various transactions.

I would recommend Charles Rutenberg Realty to any agent who does not need a lot of hand holding:
http://www.charlesrutenbergre.com/Careers.html
2 votes Thank Flag Link Thu Apr 18, 2013
I agree with James. You'll get what you pay for in terms of training, support, etc. If you don't ever plan to sell or market properties, go the cheap way. But if you really want to be a resource to your friends and family, get the training and administrative you'll need from a full-service brokerage firm.
2 votes Thank Flag Link Thu Apr 18, 2013
Hi Mshap3,


Check out a local Exit Office. No desk, no monthly fees. There is a once year admin fee that is quite reasonable.

Free online training at your time and availability.

good luck
1 vote Thank Flag Link Thu Apr 18, 2013
If you want no help, find an agency that is a 100 or 90% split. If you want help, expect a 50/50 split
1 vote Thank Flag Link Thu Apr 18, 2013
Please feel free to contact me to discuss. I am the managing broker and owner. I sponsor several agents in exactly your same position. But I would need more details.
1 vote Thank Flag Link Thu Apr 18, 2013
So you want all the help from a broker but you don't want to pay that broker anything for his assistance is that what you are asking?
1 vote Thank Flag Link Thu Apr 18, 2013
Thanks for your reply James, it will give me an opportunity to further explain.

I definitely understand that a brokerage needs to make money and that they provide great benefits to brokers. While I do think I will need some of these benefits (i.e. answering questions as I have not acted as a broker before) I do not want/need all of the benefits of the larger brokerage firms (such as advertising.) So I was looking to the experience of this board to recommend options that would be better suited towards my situation.
Flag Thu Apr 18, 2013
Solid Source Realty in 3056 N. Clybourn Chicago IL 60618
100% commision . Call Jason (773) 281-1000
1 vote Thank Flag Link Thu Apr 18, 2013
Kale Realty. 312-939-5253. Ask for DJ. Make sure you tell him Thomas Kossnar sent you. You will be happy you called. Good luck to you.
1 vote Thank Flag Link Thu Apr 18, 2013
You need to interview local brokerages most likely that are not franchises. You can google real estate offices in your zip code.
As to the contracts and documents.... ones you are set up at your new office, you will need to sign up with the association of Realtors board, they you will have access to all the contracts, documents and helpful information. Good luck.
1 vote Thank Flag Link Thu Apr 18, 2013
do an on line company.. why have a desk
0 votes Thank Flag Link Thu Apr 18, 2013
I have to agree with James and Cindy. Training and guidance is essential.
0 votes Thank Flag Link Thu Apr 18, 2013
You can try my broker, they charge very little per transaction and are 100% commission. Beware that if you are the buyer and you are buying an REO, you may not get paid a commission.
Web Reference: http://Www.markmalave.com
0 votes Thank Flag Link Thu Apr 18, 2013
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