If you are in the state of Illinois and you are someone who wants to get started in real estate, then you are probably considering  getting an Illinois real estate license. And I commend you for doing so. I found out a couple of years ago that having a real estate license sure does make so much easier to invest in property, and can make a person quite a bit of income as well. While most of the money I make in real estate is in property management, there are many, many agents out there that just make a killing just for bringing buyers and sellers together. They’ll often take 6% of the purchase price when they do this.

When you get your Illinois real estate license, then you’ll be the one to collect those commissions!

But I am sure you already know what I am talking about. So let’s look at some of the drawbacks of getting your license.

First of all, there is an education requirement. Not to worry though, you can easily fulfill this requirement online. Once this is done, there will be some fees and an application, then you’ll have to take a test. After the initial licensing period, there will be some required continued education. Last, you’ll have to start out under a sponsoring broker, who will have an agreement with you for a piece of the money you make off your deals.

But look at the flip side of it. Let’s say you do get your license, and you land just ONE deal. In that one deal, you sell a house for $140,000. Now let’s say that out of that sale, you end up having to split the commission with a buyer’s agent, and your broker, and you only end up making 1.5%.

You still made $2,100!

And altogether, your education and fees won’t be more than just a few hundred bucks.

How great is that?

You do just one deal, and make over 4 TIMES the cost of your license!

I think you can see how powerful it can be to have a real estate license. This is exactly what attracted me, and why I became a licensed real estate agent. Now I can buy my properties for less, can buy and sell houses for clients, and can manage property for clients as well. And I make some significant money doing this, and I only do it part time!!

So if you are think about whether you should do it or not, I would definitely move forward and get your Illinois real estate license.

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