Seeking Recommendations for Investment-Friendly Managing Brokers in Chicago Area

[Julin Shah]

Hello BiggerPockets community!

This is my first post here, and I’m excited to connect with local, like-minded investors. I recently passed my real estate exam in Illinois and am looking for a sponsoring broker who is particularly investor-friendly. My primary focus will be working  on my personal transactions and potentially helping family and friends, with a long-term goal of diving into real estate investing.

If anyone has recommendations for managing brokers who are investor-savvy, and supportive of part-time agents, I would greatly appreciate your input!

Looking forward to hearing your suggestions and learning from this community!

[Sarita Scherpereel]

Hi @Julin Shah @Mark Ainley and I would love to chat with you! I will send you a DM so we can set something up! Congrats on passing the test! 

[Brie Schmidt]

@Julin Shah - I may be looking to add to our team.  Send me a DM

[Paul De Luca]

Quote from @Julin Shah:

Hello BiggerPockets community!

This is my first post here, and I’m excited to connect with local, like-minded investors. I recently passed my real estate exam in Illinois and am looking for a sponsoring broker who is particularly investor-friendly. My primary focus will be working  on my personal transactions and potentially helping family and friends, with a long-term goal of diving into real estate investing.

If anyone has recommendations for managing brokers who are investor-savvy, and supportive of part-time agents, I would greatly appreciate your input!

Looking forward to hearing your suggestions and learning from this community!

 Our team could be a good fit. DM me if you have any questions!

[Jonathan Klemm]

Welcome to the Chicago BiggerPockets community!

Wow @Julin Shah - You have some great options above @Sarita Scherpereel & @Mark Ainley, @Brie Schmidt, and @Paul De Luca , who are all great people to team up with!

I know a few other brokerages that might be a good fit as well...Happy to share those if you are interested.

I got my license with the EXACT SAME MINDSET  as you...work on my own transactions and family & friends.   It worked out great...you won't be disappointed.

My biggest suggestion is to join a team that will take the time to show you the ropes. It's hard to start without the right guidance, and you need someone who will really take the time to help.

[Krunal Patel]

I got my License last year with the same mindset and joined Baird & Warner. I am not saying you should join this firm. 

Is there a difference between joining a regular real estate firm like B&W, Keller William etc vs investor friendly firm? I have learned Home buying process in last 1 year and closed 4 buyer side transactions. 

I would love to hear from everyone on what else I would have learned If I would have choose the investor friendly firm? 

BTW, Welcome in this community.  

[Sarita Scherpereel]

@Krunal Patel @Julin Shah I've been at bigger brokerages- @properties and Compass. Small investor centered brokerages are typically better for the types of training you need- for investing. Bigger Brokerages are centered on transactional agents that don't handle complicated transactions or buyers with growth strategies. It really depends on what your individual goals for your licenses are so to what would best serve you.

In my career, I have found bigger companies to be helpful. I was always a full time agent and at bigger agencies I found teams to be on that helped as I grew my business. However, where I really learned to scale, grow my network and ACTUALLY LEARN THE BUSINESS was at a smaller brokerage on an investor friendly team. I had a mentor, clients that needed immediate help and that helped me make money quickly. As I was full time, I had to catch what I ate and needed that databased to do so. What I brought in (at that time) was not enough for my financial goals. After a certain point, I didn't need the team or brokerage anymore. I created my own team and now I'm known as an expert in the field. 

Really, the biggest benefit of smaller companies will be better commission splits, desk fees, low marketing costs, etc. Every place is different. You should take the time to speak to a few places before finding a good fit. Again, it really depends on your goals.  

[Krunal Patel]

Thanks @Sarita Scherpereel for all the info. So you have your own managing broker firm? 

[Julin Shah]

Thanks to everyone who took the time to reply! I’ve connected with several of you through personal messages and appreciate all the valuable insights. Looking forward to learning more and continuing the conversation.