Realtor license question - Chicagoland Sportbikes
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post #1 of 6 (permalink) Old 05-16-2007, 03:18 PM Thread Starter
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Realtor license question

So it seems like anyone can get a realtor license these days. I had one friend do it in a couple months in hopes of doing it part time in her summers off from being a teacher. she got a job with a realtor comapany and basically has never sold anything or put any time into is. She has said the when she sells he own home now she doesn't have to pay any fees or anything.

I'm going to be selling my condo next summer and buying something larger. Would it be worth while to get my license just to sell and buy my own house?

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post #2 of 6 (permalink) Old 05-16-2007, 03:43 PM
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if you're just getting it to sell your house I really don't think it would be worth it. IMO. you have to take a 45hour class and pass the final test the class gives you. Then you have to take a state test. If you don't pass the final test in class then you can't take the state exam.

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post #3 of 6 (permalink) Old 05-16-2007, 03:45 PM
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Quote:
Originally Posted by thepro8 View Post
So it seems like anyone can get a realtor license these days. I had one friend do it in a couple months in hopes of doing it part time in her summers off from being a teacher. she got a job with a realtor comapany and basically has never sold anything or put any time into is. She has said the when she sells he own home now she doesn't have to pay any fees or anything.

I'm going to be selling my condo next summer and buying something larger. Would it be worth while to get my license just to sell and buy my own house?
No.
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post #4 of 6 (permalink) Old 05-16-2007, 03:53 PM
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Use your friend as an agent so you don't pay any fees.. that should work shouldn't it?

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post #5 of 6 (permalink) Old 05-16-2007, 03:56 PM
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Why do you think you need to pay fees to sell your own house? Why do you think you need a license to sell your or any other piece of property? Or are you asking if you need to pay fees to have SOMEONE ELSE sell your house?
In Illinois, you only need a license to accept a commission for selling a piece of property.
On the other hand, if you think a buyers agent will bring you a buyer without some prearranged commission, you are very much mistaken. Mostly, the commission is 2.5% although I have heard of some accepting 2.0%.
Most people who sell their own house themselves don't know what they are doing, and most Realtors only know slightly more. I have sold more than 40 properties for myself (I don't have a license) and I fully admit I only have a slightly-more-than-basic understanding of everything, and made good money doing it too.
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post #6 of 6 (permalink) Old 05-16-2007, 03:59 PM
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Quote:
Originally Posted by Flounder View Post
Use your friend as an agent so you don't pay any fees.. that should work shouldn't it?
depends if she's working as an agent for a real estate firm. They have a set % fee even if it's friends, family or whatever. They still have to charge commission for it. The agent can make it so you don't pay the commission but the other party buying the house or can make it split. The state has been watching real estate agents more strictly since the early 90's real estate agents were known to be more crooks then car sales men. No offense to anyone.

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