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Do I need a real estate license for this?

Paxton, IL |

My question is do I need a real estate license for connecting to parties. So selling contact information. For example - I see that someone is looking for a home to rent. I know someone who is renting out their home. I approach the potential buyer and explain that I know of a property that is exactly what they are looking for. I can connect them with the seller for a small fee. Since the fee is not dependent on the sale of the house I wouldn't need a license right? Also what exactly does a real estate consultant do?

Attorney Answers 4

Posted

need a real estate license

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Asker

Posted

So you need a RE license to sell information? Not showing the property nothing. Just passing along information? I keep getting answers that contradict the last. I called the Illinois department of financial professional regulations, and they stated that I didn't need a license to do so?

Posted

You need a license. Go to real estate school You will learn a lot, have access to more buyers and sellers, and probably be more successful that trying to play buyer-seller matchmaker.

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Asker

Posted

So you need a license to sell a contact?

Frank A. Natoli

Frank A. Natoli

Posted

Asker, it is a regulated industry. You can't perform the same activity in some "indirect" way and expect that you cleverly avoided compliance. I received my RE agents license when I was 18, it is no big deal and I agree with Ms. Goldstein here that you would be enriched by the experience. Good luck!

Posted

No question, you need a real estate license. You might start your new career by reading the Illinois Real Estate License Act. It will answer this question, and many more. Good luck.

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Posted

If you pass the test, it is easy, the fee to be a real estate broker is little. You don't have to join any associations unless you want to. You have to take classes to keep your license.keep

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