Real Estate Agent
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
Sponsoring Broker in Northwest Chicago Suburbs?
I recently passed my real estate exam in Illinois. I decided to pursue a broker's license to develop a passive real estate income portfolio. My interest is commercial and industrial properties. I plan to add a few flips and rental investments along the way.
I called two companies and they mentioned that I would be better off finding a sponsor in a non-franchise company because of the monthly dues. He also mentioned that most agencies are looking for full-time brokers.
I am involved with a few other business endeavors (e.g. working with general contractors for renovating a 40K sq ft industrial building, investing in new $20K industrial building) to help expand my knowledge as I get deeper into real estate "deals". My main interest is to use my license for passive income while I continue to work on existing and upcoming projects.
Will brokerages offer such sponsorship? Is what I'm trying to do "frowned upon"? I heard that it wouldn't be a problem because many brokers obtain a license to support passive income. Thoughts/suggestions? Your help is much appreciated.