Asked by Louis, Oak Park, IL • Tue Jul 23, 2013
Hello, I am an Illinois licensed attorney and real estate investor. I have recently obtained my real estate broker's license. A good friend of mine is my sponsoring broker. However, they are not a mls/board member and as such, I cannot be an mls/board member. The reason I got my license was to be able to receive coop. comp. on the buildings I buy (typically 1-2 properties a year). I do not plan on using it for anyone but myself. Is there a certain procedure I must follow to insure I am eligible for a commission in these circumstances? Do I need to enter into an agreement with the listing agent before I submit my offer? Any advice is appreciated.
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