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]

@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.