Posted by JohnBoy on February 15, 2002 at 10:40:21:
You don’t need a license to flip when you are the principal entering into a contract and flipping your interest to another buyer.
But I think the question was referring to being a bird dog where they would just find properties and get paid a fee for referring it to other investors. Where if they buy it they get a referral fee.
That would require a license. Only, who is going to tell about it??? The only down side is if the investor buys the property and stiffs the bird dog, their agreed upon fee would be unenforcable if they weren’t licensed.
Scouts/Birddogs need RE license in IL??? - Posted by Fox_IL
Posted by Fox_IL on February 13, 2002 at 19:08:06:
I posted this question on the main news group, but I am interested in what the legal forum has to say…
I was in a discussion earlier and was told that scouts/birddogs need a license in the state of IL. Supposedly, this group of people have been classified as agents in the state’s eyes. I didn’t buy it because I’ve never heard any other people who do this type of work state such a thing.
I am very interested in being a scout (and a mentee) for a few investors in the Chicagoland area. Although, I am in a RE license class, I didn’t plan on getting a license. just wanted to have a base foundation.
Can you Illinoisians clear the air?
Also, if this is true, how do IL investors go about handling having birddogs? Wouldn’t a birddog rather become an agent in this case?
Sorry, didn’t read it closely enough. Same answer, though. A scout sells information, which is Ok without a license. A broker brings parties together for a fee, which does require a license. It’s a fine line at times!
