A Chicago real estate license is a lot like a license to kill
CNN Chicago realtor Daniel Mottola said the city’s new licensing policy for “ghost property” is a good first step, but more needs to be done.
“You’re going to have a lot of problems if you’re in a residential neighborhood where it’s going to be hard to get the licensing in a business or a residential area where there are a lot more residential properties,” he said.
The new policy is also a good thing because it allows for more people to own properties in a neighborhood, Mottolan said.
“We don’t want a bunch of empty buildings.
We want people to be able to come in and make their homes available.”
The real estate department has set aside about $300,000 for a grant program to help neighborhoods like the one where Mottolas is based in the City of Chicago.
It also announced a $500,000 scholarship program to promote the residential community.
But Mottoms worries the city is not taking advantage of this new opportunity to create more homes.
Instead, it seems to be using it to create an environment where people who want to sell their homes will be able, he said, adding that he thinks the city should be looking at creating more affordable housing.
“The city has not done enough to make it affordable for everybody,” he added.
“I would say it is time for the city to get out of the ghost property business,” Mottom said.
“It’s a waste of money.”