Posted by Adrian on June 12, 2006 at 19:21:39:
I thought I could do it for myself just to make profits, I mean I know
with brokerages you have to buy and sell as an agent. I guess I
thought a re company was a company that does it just for the profits.
Mainly investments, is this right??? I thought instead of being a
brokerage house, why not be an investment company. Please tell me if
I am saying/thinking some wrong.
Adrian
Starting a real estate company in Illinois - Posted by Adrian
Posted by Adrian on June 08, 2006 at 22:17:48:
Hey re pros,
I was just wondering if anybody here knows about the laws of starting a real
estate company in illinois? I know for il you have to have a brokers license to
have a company on your own or with a partner, but as for anything else I am
stuck.
Any info would be great.
P.S. I searched archives and mostly came up with LLC, and Corp. questions.
Anybody can OWN anything - Posted by John Merchant
Posted by John Merchant on June 14, 2006 at 09:36:54:
You might own anything, including lots of businesses that must be operated by a licensed person.
I can think of a number of different businesses that might be, and in fact frequently are, owned in whole or in part by unlicensed people.
Airlines, beauty shops, distilleries, medical clinics, securities dealers, real estate brokerages are just a few.
But to buy & sell RE takes no license or formal training of any kind, in any state.
Re: Starting a real estate company in Illinois - Posted by BTL
Posted by BTL on June 11, 2006 at 11:42:24:
Adrian
Are you asking about a real estate brokerage, or a real estate company? If it’s the brokerage, I suggest you contact your state’s department of real estate, they know all the right answers for your state.
BTL
Re: Starting a real estate company in Illinois - Posted by Adrian
Posted by Adrian on June 11, 2006 at 13:50:31:
I am sure for the brokerage you need a brokers license, but whats the
difference if its a real estate company. I mean I am gonna get my
brokers license but just curious if I tried without it. illinois has strict
rules about doing certain jobs without licensing.
Re: Starting a real estate company in Illinois - Posted by Max-Va
Posted by Max-Va on June 11, 2006 at 22:35:33:
Adrian,
Define “Real estate Company”. What kind of business are you going to be doing? If you are buying properties, rehabing, landlording, or selling your own properties you probably don’t need a brokers license. If you are doing these things for others you will need a license before starting business. Please clarify you business.