Investment specific sponsoring brokers Illinois

[Michael J Scanlon]

Hi,

I just passed my Illinois broker’s exam and I want to find a more investment-specific sponsoring broker in the Chicago area. I don’t want to go to one of the big companies because my aim is to focus specifically on my own investing and investing with my partners, more so than buying and selling houses.

Does anyone know of any or have any tips of where to find one? I want someone who has done plenty of investing and can be a mentor who benefits from the commissions I bring in after they’ve taught me.

Thanks!

Mike

[Eric M.]

I am not exactly sure what you are looking for. The title seems like it's looking for something different from the body.

A couple of BP people here can probably help you. Mike Baker and John Warren. They have firms that are more investor focused but in different ways.

If you want to learn to be a retail Realtor to generate commissions and then get some advice to invest those earnings on the side. A larger name firm is probably what you want. They will train you intensely as a Realtor and give a lot of support (and in return, you will split your commissions with the firm). Then it is about finding the right managing broker who will mentor on the investment side. Some will some won't. The focus will be on generating commissions. But there will be some other agents who invest more than others. Just a matter of finding the mentor connection. Doesn't have to be the Managing broker or sponsoring broker. There are a few Realtors on BP who are retail realtors and work for name firms but focus on investors as clients. Henry Lazerow is one.

If you want to focus on using your license to invest for yourself and less on the retail side, then check out the 2 guys above and also google, 100% payout brokerages. I do this, with one of those firms. Kale Realty. Monthly agent fees are low and you keep almost all your commissions but these firms have somewhat less emphasis on retail brokerage and don't require that you generate commissions. You can be retail or not, you can be part-time or full-time, or you can just be an investor. You choose.

You will get some support and some training but it will be mostly on you to figure out what you want to do and ask questions. They are not going to hold your hand. The managing broker will have many agents (ours handles 600) and the actual personal "mentoring" will be minimal. You can always seek a mentor outside the firm or from another agent doing a business model you want to do.