Illinois Real Estate License: A Full Guide

Earning an Illinois Real Estate License involves 75 hours of education and passing a 140-question exam. Here are the steps, costs, and details.
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Illinois Real Estate License Quick Info

Core Illinois Real Estate Licenses

  1. Real Estate Broker: This license allows individuals to engage in real estate transactions under the supervision of a broker. It is the entry-level license for most real estate professionals in Illinois.
  2. Real Estate Managing Broker: This advanced license enables holders to operate their own real estate business and manage other agents. It requires additional experience and education compared to the salesperson license.

Prerequisites for Real Estate Licensing

  • Be at least 18 years old
  • Have a valid US Social Security number
  • Have no prior criminal convictions
  • Complete 75 hours of approved pre-licensing education
  • Pass the real estate licensing examination
  • Be sponsored by a Real Estate Broker
  • Apply for the license

The Illinois Real Estate Exam

  • Questions: 140 total multiple-choice questions. 100 National and 40 State
  • Passing Score: A passing score of 70% on National and 75% on State
  • Time to Complete: 240 minutes to complete

License Fees

  • Application Fee: $125
  • Examination Fee: $58
  • Education Cost: $200-$300

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Becoming an Illinois Real Estate Broker

Becoming an Illinois real estate agent provides one incredible opportunity no other state offers: Potentially selling Michael Jordan’s home. 

If selling the basketball legend’s 32,000-square-foot home doesn’t interest you, exciting real estate career opportunities span from Chicago to Carbondale.

First, Illinois requires education and preparedness for all prospective agents, which involves classroom hours and a big exam. This step-by-step guide breaks down the process so you know what to expect and your next move.

Illinois Real Estate Licensing Requirements

The Illinois Division of Real Estate (DRE) licenses, registers, and regulates real estate brokers, appraisers, and home inspectors.

Additionally, DRE forms the regulations that govern professional behavior and standards within the Illinois real estate industry, including the extensive licensing process.

The Illinois real estate licensing process ensures prospective agents are knowledgeable, trustworthy, and have the skills to assist Illinoisans with their most valued investments: Their homes.

Before starting, Illinois has prerequisites all applicants must meet, including:

  • At least 18 years of age
  • High School Diploma or GED
  • Possess a Social Security number or individual taxpayer ID number (ITIN)
  • Have a background clear of criminal convictions

With the basic requirements met, it’s time to tackle the complicated steps.

Pre-Licensing Education

The first step to an Illinois real estate license is completing 75 hours of pre-licensing education. Approved education providers offer required courses covering:

  • 60-hour Broker Pre-License Topics: Covers Illinois real estate laws, practices, ethics, finance, market analysis, appraisal, contracts, closing procedures, etc.
  • 15-hour Broker Pre-License Applied Real Estate Principles: Interactive course focusing on practical application of real estate principles.

Courses can be completed online or in the classroom and start around $250, with more expensive options offering one-on-one assistance and additional exam prep resources.

Attorneys admitted to practice law by the Illinois Supreme Court are exempt from pre-licensing education when acquiring a real estate license.

The Illinois Real Estate Exam

With 75 hours of pre-licensing complete and valuable information still fresh on your mind, it’s time to schedule and pass the big exam.

The Illinois real estate exam has 140 questions across a national and state portion. Applicants are provided 240 minutes to complete the exam, requiring a minimum passing score of 70% on national and 75% on state.

Exams are scheduled and administered through PSI exams

Illinois Real Estate Exam details:

  • Number of Questions: 140 multiple-choice questions: 100 National and 40 State
  • Passing Scores: A minimum score of 70% on national and 75% on state
  • Question Types: multiple-choice, testing your understanding of real estate principles, laws, ethics, and finance
  • Duration: 240 minutes total
  • Cost: $58
  • Illinois Exam Booklet

The Illinois real estate exam is challenging but well within reach of passing.

Find a Sponsor Brokerage

Congratulations! You passed the exam and are ready for the final steps. Applicants must find a sponsoring broker to secure their business home before filing the application.

If you have yet to think about it, this is the time to consider your future career goals and path.

Choosing Your Specialty

Real Estate is a field with diverse possibilities. Reflect on whether your passion lies in helping families find their dream homes, assisting businesses in securing the perfect commercial space, or managing properties for investors. 

Each specialty has its own set of demands and skills:

  • Residential Real Estate: Focus on individual or family dwellings, selling single-family homes, condominiums, and townhouses.
  • Commercial Real Estate: Specialize in business properties, including leasing and selling office spaces, retail locations, and more.
  • Property Management: Manage the leasing of residential, commercial, or industrial properties for investors.

Real estate agents have the added decision of becoming a REALTOR®. Agents are not REALTORS® until joining the National Association of REALTORS®, a membership most prevalent in the residential industry that provides access to the Multiple Listing Service (MLS)® and benefits like discounted healthcare and legal support.

Finding the Right Brokerage Fit

Choosing a brokerage can significantly influence your career direction and growth. New agents should interview several realty firms and speak with local brokers for market intel.

Take advantage of platforms like Agent Nook to delve into the cultures and strengths of different brokerages. Finding a brokerage that complements your chosen specialty and supports your career goals and development will provide a better path to success.

Applying for the Illinois Real Estate License

With education and the big exam behind you, plus a clear path and a sponsored broker for your career, it’s time to apply for the Illinois real estate broker license.

Applications are completed through the Illinois Department of Financial & Professional Regulation online portal

Be prepared with the following information or documents:

  • Pre-licensing education certificates
  • Verification of a passing exam score
  • Government-issued identification
  • Sponsoring broker information
  • Application fee payment of $125

Applicants are asked various questions through the online process. Be prepared to disclose and provide detailed records of the following:

  • Denial of a professional license or permit
  • Professional disciplinary actions
  • Criminal history
  • Child support delinquency
  • Financial default on taxes or student loans
  • Military service dishonorable discharge

Illinois does not provide any application processing timeframe. However, many states process applications in 2 to 4 weeks, assuming all documents were provided. 

Post-licensing Education

Education is an ongoing event for the life of your real estate career. Post-licensing, the Illinois DRE requires 45 hours split into three 15-hour courses:

  • Applied Brokerage Principles: Covers practical application of real estate principles, including contracts, negotiations, appraisals, and ethics.
  • Risk Management and Discipline: Focuses on risk identification, mitigation strategies, and professional conduct in real estate practice.
  • Transactional Issues: Explores critical aspects of real estate transactions, including financing, closing procedures, and title insurance.

Post-licensing education must be completed before the first license renewal. 

Going forward, continuing education of 12 hours is required during each two-year renewal cycle. CE courses include 4 hours of core credits and eight elective credit hours in an area of choice, like marketing, technology, and negotiations.

Final Thoughts

The path to becoming an Illinois real estate broker seems tedious and challenging, and it is. But real estate is an exceptional career path offering unique freedoms and unlimited earnings potential.

When selling real estate, each day is new, and the lifelong relationships you forge provide a rewarding lifestyle career.

Take the first step to lock in your real estate education. Then, start telling everyone. 

A successful real estate career is built on endless self-promotion and marketing. Taking your friends and family on your licensing journey may score your first big referral and a nice commission check to kickstart your career.

Welcome to the real estate industry; you’re going to love it.

Agent Nook Team
Author: Agent Nook Team

Sometimes, it takes a team. Agent Nook always brings an experienced perspective—or several—into each post. This ensures our readers always have the most up-to-date and relevant information.

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