Broker License

The Illinois Department of Financial & Professional Regulation’s (IDFPR) Division of Real Estate issues real estate broker licenses to individuals meeting the criteria below. There is no “salesperson” or “agent” license in Illinois. Those who wish to conduct the business of buying and selling real estate must complete the following requirements and steps.

• Minimum Age: 18
• Minimum Education: High School Diploma or GED
• Identification: SSN or Individual Taxpayer Identification Number AND government-issued photo ID

Step 1: Complete 75 required hours of Broker Pre-License coursework

Step 2: Pass State & National Licensing Exam (administered by PSI)

Step 3: Obtain Managing Broker sponsorship

Step 4: Complete IDFPR online application process

Step 5: IDFPR confirms information and issues license

Managing Broker License

Managing Brokers can do all the things brokers do but may have additional managerial responsibilities. They can work independently, supervise other agents, or serve as the Designated Managing Broker of a brokerage.

To qualify for a Managing Broker license in Illinois you must be at least 20 years old, have an active, valid Illinois real estate broker license, have had an active real estate license for two (2) of the past three (3) years, and successfully complete the 45 hours of required managing broker pre-license education and pass the licensing exam.

Applicants who have never held a license but wish to earn a managing broker license will first have to complete the Broker pre-license and post-license education requirements, and follow with the 45-hour Managing Broker pre-license education requirement. You will not be able to apply for your Managing Broker license until you have met the “two out of the past three years” practicing broker requirement. Watch the video on Designated Managing Broker: Responsibilities and Supervision for further information.

Residential Leasing Agent License

Residential Leasing Agents work with property owners to market and show their residential properties and attract good tenants and they also help renters find and lease properties.

To earn a Residential Leasing Agent license in Illinois, you must be at least 18 years old, have a high school diploma or equivalent, complete a 15-hour Residential Leasing Agent Pre-License course and pass the state licensing exam.

If you do not pass the licensing exam after completing your courses, you may retake the exam up to three times (on different days). If you do not pass the exam on the fourth attempt, you must retake the pre-license coursework before registering again for the exam.

Email [email protected] for more information on retaking the education.

You can apply for a real estate license after completing your pre-license education and passing the state and national licensing exam. Education options range from 2-week accelerated classes to 6 months online, self-guided learning.

Online Pre-License courses expire 180 days from the date of purchase.

If you do not pass the state exam after completing your courses, you may retake the exam three times. If you do not pass the exam on the fourth attempt, you must retake the pre-license coursework before registering again for the exam.

Illinois School of Real Estate provides cost-effective paths to get an Illinois real estate broker license. Your individual costs will depend upon which courses you choose whether you select add-on products such as exam preparation tools, and how many exam fees you must pay.

Example:
Online Pre-License Package with ebook – $519
State Examination Fee – $58
Initial License Application Fee – $150

Be prepared for additional start-up costs and the ongoing expenses of doing business such as membership fees, ad costs, license renewal fees, and other operating expenses.