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Illinois Managing Broker Pre-Licensing Education

Unlock Your Independence: Become a Managing Broker in Illinois

Ready to elevate your role in the real estate industry? As a Managing Broker, gain the independence to manage your practice and lead others. With Real Estate Institute, you gain more than education — you gain a partner in your professional growth.

Choose a 45-Hour Illinois Managing Broker Real Estate Pre-License Package

45 Hour Pre-License
$349
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Everything Needed to Earn the Required Course Credits:

  • Complete at your own pace
  • 15 hours of interactive webinars with a flexible schedule
  • Instructor support
  • Textbook (printed & PDF)
  • Enroll now, pay later with Affirm Logo

 

45 Hour Pre-License + Exam Prep
$399
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Basic Package PLUS License Exam Prep:

  • Broker pre-license textbook (printed & PDF)
  • ExamSmart videos
  • 600+ practice questions
  • Comprehensive, full-length practice exams to assess your readiness
  • Enroll now, pay later with Affirm Logo

 

Managing Broker PE - Program Catalog

Who is this Program For?

  • Brokers who have been licensed at least two of the past three years.
  • Licensees aspiring to sponsor and supervise others.
  • Individuals who want the option to self-sponsor their license.
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Why Choose Us?

  • Engaging and comprehensive courses with start-to-finish support.
  • Over 30 years of experience providing high-quality professional education.
  • A dedicated student service team is ready to assist you in any way you may need.
  • Expert instructors are industry professionals with years of experience and passion.

Managing Broker Pre-license Requirements:

  1. Be at least 20 years of age
  2. Hold a high school diploma or GED equivalent
  3. Worked as a broker for two consecutive years of the preceding three years
  4. Complete the 45-hour managing broker course
  5. Pass a state exam

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FAQs

Who is required to hold an Illinois Managing Broker license?

A managing broker license is required by:

  • Self-sponsored Licensees: Individuals who intend to operate as independent real estate brokers in a sole proprietorship must secure a managing broker license.
  • Brokers in a supervisory role: Brokers tasked with supervisory roles over other licensees, whether in a single office or multiple offices within a company, must have a managing broker license if designated as the managing broker by their sponsoring broker.

What is the difference between a Broker license and a Managing Broker license?

Anyone aiming to enter the IL real estate industry (excluding those focusing solely on residential leasing) must apply for a broker license. Once they've actively maintained this license for at least two (2) years, they can pursue further education to qualify for a Managing Broker license.

Managing Brokers have all the capabilities of a Broker, with the option of sponsoring their own license and the licenses of other real estate professionals, which can include Residential Leasing Agents, Brokers, and fellow Managing Brokers.

What are the education requirements to earn an Illinois Managing Broker license?

Individuals seeking a real estate managing broker license must complete 45 credit hours of pre-license education.

  • Thirty credit (30) hours of the pre-license course must be completed before attending the fifteen (15) credit-hour interactive course.
  • Individuals must first hold a real estate broker license for two (2) of the past three (3) years before applying for a managing broker license.

Why would I choose the Managing Broker license over the Broker license?

  • Brokers must operate under the sponsorship of a Managing Broker and cannot act independently.
  • Managing Brokers can self-sponsor and practice as sole proprietors.
  • Managing Brokers can also sponsor other licensees, including Leasing Agents, Brokers, and other Managing Brokers.

What do I need to upgrade my Broker license to Managing Broker?

To be eligible for a Managing Broker license, you must:

  • Have maintained an active broker license, or its equivalent, for two (2) out of the last three (3) years.
  • Complete 45 credit hours of pre-license education.
  • After passing the final exam at our school, you will receive a 45-hour transcript and instructions to schedule your state license exam.

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