Legal Question in Real Estate Law in Illinois

I want to sell real estate in my home state of Illinois WITHOUT a regulatory license.

A quick internet search tells me I can do it legally in this 3 step process below.

Is this legal in your opinion?

1

Hit the Streets ! Hit the Internet ! Hit the Newspapers !

Find Owners who are themselves trying to sell their home.

Tell them what you can do for them.

NOTE: You must have your clients sign a contract asking you to assist them with the private sale of their home ......T hat is the loop hole that keeps you from having to be a licensed Real Estate Agent

2

Sign up your new client. When signing a client you need to get your Marketing deposit on the front.

3

Place an ad in the newspaper.

Houses for sale- (000) 000-00


Asked on 3/04/15, 11:49 am

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

No, it most certainly is not. If you are going to be collecting money from either party for the service of finding a buyer, you need a license. Read the Real Estate License Act. Notice the $25,000 per transaction civil penalty and the misdemeanor and felonies available to you as a violator. If you want to do this, get your license. It is not that difficult, and you will learn a thing or two.

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Answered on 3/04/15, 12:51 pm


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