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Illinois Real Estate: Licensing

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Illinois Real Estate Broker    (click an item to see more info)
  1. Who is required to hold a Broker license?
    Individuals who represent prospects and owners in the sale, exchange, management, and leasing of residential, commercial, and industrial properties as well as farm and vacant land are required to hold a license.

    Last Updated: 3/28/2011

  2. Has there been a change to the pre-license education requirements for an entry level licensee?
    Yes. Illinois license law was updated in 2010. Changes to the pre-license education requirements became effective on May 1, 2011.

    In the past, new licensees were required to complete the 45 credit-hour Real Estate Transactions course and apply to be licensed as a Salesperson. The state of Illinois is no longer issuing new Salesperson licenses. Instead, entry-level licensees should complete coursework required to become a real estate broker. New licensees are now required to complete a 90 credit-hour program that must include 15 hours of classroom or classroom-equivalent (webinar) education. Individuals completing this course of study will apply to become licensed as a Broker. (All existing Salesperson licensees will be transitioning to this new Broker license type).

    Last Updated: 3/28/2011

  3. Why would I choose the Broker license over the Leasing Agent license?
    Individuals who hold a Leasing Agent license are restricted to performing leasing activities for residential properties. Indiviuals who hold a Broker license may perform activities related to the leasing or sale of any type of property including residential, commercial, industrial, etc.

    Last Updated: 3/28/2011

  4. What are the education requirements to earn an Illinois Broker license?
    Individuals seeking to obtain a real estate broker license are required to complete a total of 90 credit hours of pre-license education. The 75 credit-hour pre-license course must be completed before attending the 15 credit-hour interactive course. In addition, new licensees will be required to complete a 30 credit-hour post-license course before their first license renewal.

    Last Updated: 3/28/2011

  5. Are attorneys exempt from the education requirements?
    Yes. Applicants who are currently admitted to practice law by the Supreme Court of Illinois and are currently in active standing are exempt from the education requirements. However, these individuals are still required to pass the state examination.

    Last Updated: 3/28/2011

  6. What is the difference between a Broker license and Managing Broker license?
    All individuals seeking to become a real estate licensee in Illinois for the first time (other than those dealing only with the leasing of residential real estate) must apply for a broker license. After holding a Broker license for at least two years, licensees may elect to complete additional education and apply for a Managing Broker license. Managing Brokers are permitted to perform all of the same activities as a Broker, but may also choose to sponsor their own license or those of other licensees (Leasing Agents, Brokers, and Managing Brokes).

    Last Updated: 3/28/2011

  7. Does Real Estate Institute offer a state-approved pre-license course for Brokers?
    Yes. We offer individual courses and discount packages that satisfy the state requirements and are designed to prepare new licensees for the state exam.

    Last Updated: 3/28/2011

  8. Can I complete all of the coursework online via self-study?
    After May 1, 2011 the state no longer permits purely self-study programs. A significant portion of the pre-license courswork may be completed via self-study, but all students are required to complete a 15 credit-hour interactive course that is available via live classroom or webinar delivery.

    Last Updated: 3/28/2011

  9. When and where are classes offered for the 15 credit-hour interactive course?
    You may view our schedule of upcoming classes by clicking here.

    Last Updated: 3/28/2011

  10. How soon after enrolling in the Broker program will I receive my course materials?
    We ship all course materials within one business day via First-Class Priority Mail. You may also pick up course materials at our office. Please call if you wish to arrange for expedited shipping (such as FedEx) for an additional fee.

    Last Updated: 3/28/2011

  11. What if I don't pass a quiz or exam that is part of the program?
    In general our programs are designed to aide students who are having any difficulties in our programs. A retake quiz or exam is part of most courses. Please call us or see the course instructions provided with your course materials for specific course requirements.

    Last Updated: 3/28/2011

  12. Do your self-study courses include instructor assistance?
    Yes. This is an area where our school really stands out. Students in our real estate pre-license programs are strongly encouraged to call for one-on-one instructor assistance throughout the program. We're committed to each student's success!

    Last Updated: 3/28/2011

  13. Will I need to purchase an additional "exam prep" course if I enroll in your pre-license program?
    No. Our programs include all of the 'tools' that you need to successfully complete the education requirements and prepare to pass the state examination.

    Last Updated: 3/28/2011

  14. How difficult is it to find work after I receive my license?
    Usually, not difficult at all. You will find that most brokerage firms are always looking for new agents.

    Last Updated: 3/28/2011

  15. How long will it take before I start making money in real estate?
    Beginning a career in real estate is more like opening your own business than starting a job. It will take time for you to begin generating the income you desire, and everyone's timetable will be different. In the long run, though, financial gain is usually only limited by an agent's willingness to work and desire to succeed.

    Last Updated: 3/28/2011

  16. Is the Illinois Broker license also valid in other states?
    Each state has its own license requirements. Contact the state in which you are interested in being licensed. On occasion, a state may accept some of your real estate education from Illinois.

    Last Updated: 3/28/2011

  17. Do I need to be sponsored by a company or Managing Broker in order to start the class, take the examination, or obtain a license?
    No. A sponsor is not required until after you have passed the exam and applied for a license. Leasing Agent and Broker licensees must have a Managing Broker sponsor to activate their license. A Managing Broker licensee may sponsor him or herself, or may be sponsored by another Managing Broker.

    Last Updated: 3/28/2011

  18. Once I have the license, how often does it need to be renewed?
    Real estate licensees have a two-year renewal cycle. Broker licenses expire April 30th of the even years; Managing Broker licenses expire April 30th of the odd years. Both of these licenses require continuing education for renewal.

    Last Updated: 3/28/2011

  19. I currently hold an active real estate license in a state that has a reciprocity agreement with Illinois. What are the education requirements for me to get an Illinois license?
    Currently Illinois has reciprocity with a few other states (click here to see the list). Applicants must meet the Illinois reciprocity qualifications in order to receive an Illinois license. Please see the Illinois Reciprocity Application and for additional support, contact the IDFPR at (217) 782-3414.

    Last Updated: 6/20/2012

  20. As a licensee in another state, are there any other requirements for me to consider?

    Yes. When applying for your license, a "Certification By Licensing Agency/Board Form" must be filled out by the state in which you currently hold a license. This form can be found within the Applied Measurement Professionals Candidate Handbook.

    Last Updated: 11/4/2013

Real Estate Institute is approved by the Illinois Department of Financial and Professional Regulation.
IDFPR Approved #510.000158.