New agent from Chicago and looking for advise!

[Logan Weiss]

Hello, 

I am trying to figure out how to make an LLC a brokerage company in Chicago? My boss has his managing license and I have my real estate brokers license. Would love to learn on what steps are needing to be taken to open up a brokerage? Any advise would be greatly appreciated!

Thank you so much! 

[John Warren]

@Logan Weiss you just go to the IDFPR website and follow the instructions. There is a form you fill out and a fee you have to pay. It takes some time and nothing is intuitive. You then get your brokerage set up with whichever realtor board you want (most likely CAR). 

[Logan Weiss]

Thank you so much John! 

[Jonathan Klemm]

Hey @Logan Weiss - Awesome to see you on the forums and props for asking the right questions to continue to grow.  You were provided the right path by @John Warren, but I want to understand your particular situation a little bit better.

You and your boss are currently at a Chicago brokerage, and he is NOT the sponsoring broker or owner of the brokerage?  Just a heads up, I believe you have to be a managing broker in order to open a brokerage so your boss would need to take the steps mentioned not you.

Additionally, just curious what your desire to open a brokerage is?  I'll be honest I opened my own brokerage and it's almost been more of a distraction for me since the business is not my primary focus (finding deals is my main focus).  I am still happy I owned my brokerage but at one point I just had too much on my plate because of it.

So......as long as you go into it with a clear vision of what you want out of it I am all for it!!