Illinois Broker Pre-Licensing IL Real Estate License FAQs

The average time it takes to complete your Illinois broker pre-licensing education is dependent on a few factors. Most students complete the licensing requirements in 3-4 months. Before you receive your license, you must complete a few necessary steps; these include your education application, passing the exam, a background investigation, and more.

Unlike many states where licensees are classified as sales agents and salespersons, Illinois’s first available real estate license is a broker’s license, and the more advanced roles require a managing broker’s license.

Broker responsibilities:

• Leading Buyers & Sellers

• Prospecting Buyers & Sellers

• Marketing and Showing Homes

• Negotiating Sale Price

• Leading Transactions

• Renting Units

Managing broker responsibilities:

• Managing and Recruiting New Brokers

• Reviewing Contracts

• Lead Distribution

• Reviewing Contracts

• Property Management

• Vendor Relationships

Colorado, Connecticut, Florida, Georgia, Indiana, Iowa, Nebraska, Kentucky, South Dakota, Wisconsin.

The fixed costs include:

• $58.00 for the broker exam fee

• $150.00 for the broker license application fee

The variable costs include:

• Pre-licensing education tuition.

Note: These costs are subject to be changed by the state at any time.

Illinois Real Estate Educational Foundation (REEF) awards scholarships to students of real estate and related fields of study.

Yes, Illinois residents can take their real estate Pre-Licensing education online. The online option has become increasingly popular in recent years.

A criminal record may impact your ability to attain an Illinois real estate license. The Illinois Division of Real Estate has more information on getting a real estate license with a criminal record.

To attain your real estate broker license in Illinois, the Illinois Department of Financial and Professional Regulation, Division of Real Estate, requires you to do the following:

• Be at least 21 years old with a high school diploma or GED; or between 18 and 21 years of age with at least four semesters of post-secondary education in real estate as set forth by the Division of Real Estate

• Complete all Pre-Licensing coursework

  (75 hours of pre-license education required)

• Pass the Illinois real estate exam

• Be sponsored by a managing broker

It's difficult to determine an "average salary" of a real estate agent in Illinois. According to Indeed.com, full-time Illinois agents average $60k per year.

Illinois students are required to take 75 hours of Pre-Licensing coursework comprising two courses that will cover a variety of topics, including property ownership, land use controls and restrictions, property valuation, real estate financing, and agency law and agreements.

New broker licensees are required to complete 30 hours of post-licensing for their first renewal cycle. Additional questions about post-licensing can be answered here. After the first renewal cycle for a broker, brokers are required to complete 12 hours of continuing education.

In order to become a licensed real estate agent in Illinois, candidates must have at least a high school diploma or GED.

To become a real estate agent in Illinois, applicants must be at least 18 years of age.

You can schedule your Illinois real estate examination with PSI at 833.892.5441 or by visiting their website.

You can find your specific progress through the Illinois Department of Financial and Professional Regulation’s CE Lookup.

Illinois has reciprocity agreements with the following states: Colorado, Connecticut, Florida, Georgia, Indiana, Iowa, Nebraska, and Wisconsin. There are important resources that agents seeking reciprocity should review before applying. Agents can also contact the Illinois Real Estate Commission to ask personalized questions regarding real estate license reciprocity.

There are important resources that agents seeking reciprocity should review before applying. Agents can also contact the Illinois Real Estate Commission to ask personalized questions regarding real estate license reciprocity.