\n<\/p>\n
If you\u2019re interested in becoming a real estate agent in Illinois, you\u2019ll be happy to hear that the path to getting your real estate license in the Prairie State doesn\u2019t require as much of a time commitment as other states. What\u2019s more, Illinois has reciprocity agreements with nine other states, making it an excellent location for starting an exciting, new career in real estate.<\/p>\n
There are certain differences between being a real estate professional in Illinois and other states, which we\u2019ll look at in this article. We\u2019ll also dive into necessary steps and helpful tips, answer frequently asked questions, and provide all the key information you need to get your real estate license in Illinois, so keep reading.<\/p>\n
While most states call the professional who represents a buyer or a seller of commercial or residential real estate a \u201creal estate agent,\u201d Illinois calls this individual a \u201creal estate broker.\u201d The actual professionals who many states call \u201cbrokers,\u201d however, are called \u201cmanaging brokers\u201d in Illinois. And you can also serve as a \u201cleasing agent,\u201d which is an individual licensed to engage in activities limited to leasing or renting residential real estate. [2]<\/sup><\/a><\/p>\n DID YOU KNOW?<\/strong><\/p>\n According to the Illinois Department of Financial and Professional Regulation (IDFPR)\u2019s Division of Real Estate, there is no \u201creal estate salesperson\u201d or \u201creal estate agent\u201d license in Illinois. Anyone who wants to buy and sell real estate in Illinois must possess a real estate broker license. [1]<\/sup><\/a><\/p>\n<\/blockquote>\n As a real estate broker in Illinois, it is not legal for you to work independently. You can rent and sell property, but you must be sponsored by a managing broker, who you will work under for two years. After two years, you are free to pursue your managing broker license if you so choose. <\/p>\n Although the terms may initially be confusing, conducting business as a real estate broker in Illinois really comes down to completing the required prelicense coursework, passing the state and national licensing exam, securing sponsorship from a managing broker, and applying for your license. <\/p>\n Some people choose to begin their real estate career as leasing agents and become brokers down the road, but this is not a requirement for becoming a real estate agent in Illinois. You do have the option of immediately pursuing a broker license, as no prior experience is required. Here\u2019s what is required:<\/p>\n Requirements checklist<\/strong><\/p>\n According to several reputable schools accredited by the IDFPR, the pass rate is approximately 75% for those taking the Illinois real estate broker exam for the first time. [4]<\/a><\/sup> There are 140 multiple-choice questions on the license exam, and a passing score is 30 out of 40 on the state portion, and 75 out of 100 on the national portion.<\/p>\n 75%<\/strong><\/big> is the score you\u2019ll need the first time around to be eligible for your Illinois license<\/p>\n<\/li>\n While getting licensed as a real estate broker in Illinois may mean investing more time and money up front, remember that brokers typically experience a greater return on this investment in the long run. Here\u2019s a general idea of how much time to set aside:<\/p>\n Total time it typically takes to become a real estate salesperson in Illinois:<\/strong><\/p>\n From a little over a month to 3.5 months.<\/p>\n<\/li>\n As with educational pursuit that will lay the foundation for a successful career, there are fees associated with getting your broker license to conduct business as a real estate agent in Illinois. When it comes to getting a real estate license, here\u2019s what you need to budget for:<\/p>\n Estimated total =<\/strong> Between $530 and $1,050<\/p>\n<\/li>\n<\/ul>\n PRO TIP:<\/strong> Looking for financial assistance with completing your real estate broker education requirements? As a prelicense student, you may be eligible for tuition reimbursement scholarships and grants offered through the Illinois Real Estate Educational Foundation (REEF) and the GI Bill\u00ae. <\/p>\n For eligibility details, visit these web pages: REEF Scholarships<\/a> and GI Bill\u00ae education benefit<\/a><\/p>\n<\/blockquote>\n If you are applying for a real estate broker license in Illinois, the first step is to enroll in and complete an approved prelicense education course on commercial and residential real estate. Not only is the broker course required by the IDFPR, but it will also equip you with the in-depth knowledge you need to pass the exam and succeed as a Illinois real estate agent.<\/p>\n The prelicensure coursework required to earn a broker license in Illinois consists of two courses that total 75 hours of study:<\/p>\n PRO TIP:\u00a0<\/strong>Before your course completion, be sure to register as a student with license exam vendor PSI. This will be important when it comes time to schedule your exam, as you\u2019ll need the confirmation of eligibility from PSI that is generated when you register as a student.<\/p>\n<\/blockquote>\n To register as a student, visit PSI\u2019s student portal.<\/a> The portal allows you to add or edit your information, so the school you attend can electronically submit your course completion information to PSI. [9]<\/a><\/sup><\/p>\n To meet the 75-hour prelicensing requirement<\/strong> for agent licensure in the state of Illinois, you can complete your coursework either through an online program or in a traditional classroom setting. Here are some of the IDFPR-approved, prelicensing course formats:<\/p>\n With so many prelicensing course formats to choose from, there\u2019s bound to be one that suits your learning style and schedule.<\/p>\n Applying for your initial real estate broker license based on attorney status? To qualify for an Illinois broker license as an attorney, you must be at least 18 years old and be admitted to practice law by the Illinois Supreme Court.<\/p>\n You can register for the exam by submitting the Illinois Real Estate Examination Registration Form found in the Real Estate Examination Program Candidate Handbook<\/a>. For approval before you take the exam, the state also requires that you mail a photocopy of your current Illinois attorney registration pocket card certificate to PSI at the address provided on the form.<\/p>\n After you successfully complete the 75 hours of prelicensing education<\/strong>, the school you attend will submit your course completion information to PSI \/ Applied Measurement Professionals (AMP). Once PSI\/AMP confirms that they\u2019ve received your information and you are an eligible candidate, you\u2019re ready to schedule your Illinois licensing exam.<\/p>\n DID YOU KNOW?<\/strong><\/p>\n After completing the prelicensing education in Illinois, you have two years to take and pass the state and national portions of Illinois’ licensing exam. [11]<\/a><\/sup><\/p>\n<\/blockquote>\n You have a few different options when it comes to registering for the Illinois real estate licensing exam:<\/p>\n PRO TIP: <\/strong><\/p>\n As you prepare to take your licensing exam and become an Illinois real estate agent, plan your study schedule well in advance. Set aside blocks of time on certain days when you will study. And try to find a quiet place to study where you won\u2019t be distracted or interrupted. When it comes to how to approach your studies, don\u2019t get overwhelmed! Just focus on being objective about your individual learning needs and concentrate your efforts on a few carefully chosen textbooks.<\/p>\n<\/blockquote>\n Consisting of 140 multiple-choice questions, the real estate licensing exam is divided into two parts. The first portion includes 100 questions on national real estate laws and regulations, and the second consists of 40 questions on state laws. <\/p>\n Depending on location availability, exam dates are usually available Monday through Saturday, within a couple of days of scheduling. As far as testing sites, those are determined by PSI\/AMP. Your exam will be given on a computer at a PSI Test Center. On the day of your exam, it\u2019s wise to arrive at the Test Center 30 minutes before your scheduled exam time.<\/p>\n There are an abundance of exam locations throughout Illinois and the following exam sites are proctored by onsite personnel:<\/p>\n Other locations use remotely proctored testing stations to monitor candidates. For a complete list of Illinois PSI Test Centers, visit Locations of Approved PSI.<\/p>\n<\/li>\n When the day comes for you to take your real estate licensing exam, you must provide 2 forms of proper identification, as well as biometric identification, which may include a test center-captured photograph or a fingerprint scan. The primary forms of photo ID must be current, permanent, government issued, and include your name, signature, and photograph. [12]<\/a><\/sup><\/p>\n Primary forms of photo ID accepted by the state of Illinois are:<\/p>\n The secondary form of ID must display your name and signature for signature verification. Additionally, you\u2019ll be required to sign a roster for identity verification. Secondary forms of ID accepted by the state are:<\/p>\n Here are a few of the items that you cannot bring into the exam room:<\/p>\n There will be soft lockers available for storing your wallet and\/ or keys during the exam. The proctor will lock the soft lockers before you enter the exam room and you will not have access to the locked up items until after the exam is completed.<\/p>\n The following are also strictly prohibited during the exam:<\/p>\n Any prohibited possessions or behavior may result in disciplinary measures, including being dismissed and forfeiting the exam.<\/p>\n A calculator is permitted during the exam, but only if it is silent and non-programmable, without alphabetic keypads or printing capabilities. Don\u2019t worry, you will be given pencils during check-in and one piece of scratch paper to use during the exam.<\/p>\n You will have 3.5 hours to finish the comprehensive exam. Good luck!<\/p>\n<\/li>\n To be eligible to apply for a broker license in Illinois, you must pass both the national and state portions of the exam. Specifically, your score will need to be at least 75% on both the state and national portions of the exam to pass and receive credit.<\/p>\n Immediately after completing the licensing exam, your exam results will be available, so you won\u2019t have to lose sleep at night wondering how you did. Just report to the testing supervisor after the exam to receive your score report.<\/p>\n<\/li>\n<\/ul>\n In Illinois, new real estate agents are required to work under the supervision of a managing broker. As such, you\u2019ll need to secure a managing broker before you can apply for your full license and conduct any business. <\/p>\n With advanced certifications that enable them to own an independent real estate firm, a managing or sponsoring broker is an experienced real estate professional that can help you build a solid foundation for success in the future. As a new real estate agent, you\u2019ll want a managing broker that you can depend on for employment, mentorship, and support.<\/p>\n To select the best brokerage for you, here are four things to consider:<\/p>\n Do you want to join a bigger brokerage with an expansive network or do you prefer a boutique brokerage with a local vibe? Is your goal to sell high-value homes as part of a luxury firm or help first-time homebuyers make their dream of ownership come true? These are the questions you need to ask yourself as you look for a managing broker. Your answer should be based on your personal preferences and professional goals.<\/p>\n A firm\u2019s size and the number of real estate salespeople that are overseen by the broker are determining factors in the commission split. For a new real estate agent in Illinois, a fair commission split is between 50\/50 (the real estate agent and broker receive equal sums of money from a commission split) and 70\/30 (the real estate agent gets a larger sum of money than the broker).<\/p>\n When selecting a firm, look for a brokerage that will support your professional growth by offering mentorship and training programs. You\u2019ll be better positioned to become established in the industry by having this support early on in your real estate career.<\/p>\n Brokerage tools, cutting-edge technology, market assistance, and industry insights are key to succeeding as an Illinois real estate agent, so look for a brokerage that provides the resources and agent services you need to maximize reach for your clients.<\/p>\n Once you\u2019ve passed both portions of your Illinois real estate licensing exam and picked a sponsoring broker, you\u2019re ready to apply for your license. You can find your licensure application instructions in your exam\u2019s score report and mail your application materials to: <\/p>\n PSI, 3223 South Meadowbrook Road Suite B, Springfield, IL 62711 It can take two to four business days for your license application to post in the system and your status to update. Once it posts, the IDFPR will confirm your information and issue your real estate license. This part may take up to 45 days, but don\u2019t fret! While you wait for the IDFPR to process your application and issue your professional license, the state of Illinois permits real estate brokers to work under their managing broker.<\/p>\n DID YOU KNOW<\/strong>?<\/strong><\/p>\n As soon as your application is approved, you\u2019ll need to file a 45-day permit sponsor card to activate your license.<\/p>\n<\/blockquote>\n If you\u2019re a prospective or new real estate agent in Illinois, you may need some additional information to decide if a career in real estate is for you. Here are some answers to the most frequently asked questions about practicing real estate in Illinois.<\/p>\n Should you fail only one part of the real estate broker exam, you\u2019ll only need to retake that portion\u2026 but be prepared to pay the full exam fee for any retakes. You\u2019ve got a total of 4 attempts to pass the exam, including the initial attempt.<\/p>\n Exam questions are randomized, so the broker exam will be different each time. Even so, you\u2019ll need to schedule a license exam retake on a different day. It\u2019s a good idea to give yourself a few days anyway, allowing you to brush up on topics that you were tripped up by the first time you took the exam.<\/p>\n<\/li>\n Once you have passed the real estate licensing exam, you can apply for an Illinois broker license online by visiting the Online Services Portal<\/a>. Once you\u2019ve logged into your portal account, just complete your application online and submit it to IDFPR.<\/p>\n<\/li>\n In the state of Illinois, a real estate broker license must be renewed every 2 years. Specifically, real estate brokers must renew their license in even-numbered years, so the next time broker license renewal applications will be due is April 30, 2024. [13]<\/a><\/sup><\/p>\n To start the renewal process with the IDFPR\u2019s Division of Real Estate, you can sign into your IDFPR Online Services Portal<\/a> account. You can also send paper renewals to: To find out when your license expires, visit IDFPR\u2019s Online License Lookup<\/a>. This is where you\u2019ll find your original issue date, license effective date, expiration date, license status, sponsorship status, and other license information.<\/p>\n<\/li>\n Approximately 90 days before the broker license renewal deadline, the Online License Renewal Portal will open. Around that time, renewal instructions will be emailed to you and will include the unique PIN number you’ll need to renew online. If for some reason you don\u2019t receive a renewal notice, don\u2019t worry! You can always access your renewal application on the Online License Renewal Portal<\/a> by using your social security number and date of birth.<\/p>\n The broker license renewal fee is $150 if you renew by the deadline. If for some reason you can\u2019t renew your license until after the deadline, you\u2019ll owe a late payment penalty fee of $50. [15]<\/a><\/sup><\/p>\n<\/li>\n If you forget to complete your renewal requirements or the renewal application, or fail to pay the fee to IDFPR, you will not be permitted to practice real estate after the renewal deadline. The IDFPR takes this pretty seriously, and may subject you to disciplinary action for \u201cunlicensed activity\u201d if you practice on an expired or inactive license. The bottom line is that you should make renewing your license on time a priority.<\/p>\n<\/li>\n If you completed your renewal requirements, paid the fee, and submitted the renewal application by the deadline, but you notice that your license hasn\u2019t been renewed yet, you are still permitted to practice as a real estate salesperson in Illinois. Just be sure to keep the following documents, as you may need them to prove your timely renewal:<\/p>\n While it is not necessary for you to be sponsored at the point of renewal of your license in Illinois, licensees who renew without a sponsoring broker will have an \u201cInactive\u201d status upon renewal. Until a sponsoring broker is added, you will not be allowed to practice licensed real estate activities.<\/p>\n Checklist for license renewal<\/strong> 2 years<\/strong> is how long your Illinois real estate license is valid.<\/p>\n Renewal considerations for attorneys<\/strong><\/p>\n If you are a licensed attorney in good standing in Illinois, you will need to renew your broker license. You can complete the online renewal process and pay the license renewal fees required by IDFPR through the Online License Renewal Portal. You will also be required to upload proof of your Attorney Registration and Disciplinary Commission (ARDC) registration document to your Online Services Portal account profile.<\/p>\n Attorneys admitted to practice law pursuant to Illinois Supreme Court rule are exempt from the continuing education requirement. You will, however, need to certify your full compliance with the CE requirements on your renewal application. [16]<\/a><\/sup><\/p>\n<\/blockquote>\n<\/li>\n To renew a real estate license in Illinois, continuing education courses are required for broker license holders on a two-year renewal cycle set by the IDFPR. Before you renew your broker license for the first time, it\u2019s required by the IDFPR that you successfully complete 45 hours of approved continuing education (CE). This must include the following broker post-license CE courses:<\/p>\n After completing each required CE course, you will have to take a 50-question final exam. According to state law, you must pass all 3 final exams with a score of 75% or higher in order to satisfy the requirement and receive credit for the courses.<\/p>\n As a renewal applicant, you must certify full compliance with the CE requirements on your renewal application. Should the department request proof, it is your responsibility to retain and provide evidence of compliance.<\/p>\n DID YOU KNOW?<\/strong><\/p>\n After you complete the risk management\/ discipline course, you will have satisfied the required 1-hour of sexual harassment prevention training.<\/p>\n<\/blockquote>\n<\/li>\n Your CE and post-license education must be completed through the Illinois Department of Financial and Professional Regulation-approved real estate education provider. When it comes to your Illinois real estate continuing education courses, there are an array of approved providers to choose from.<\/p>\n IDFPR-approved providers of continuing education courses can be found here: Real estate schools and real estate education course providers typically offer various renewal packages, with prices ranging from $150 for an individual course to over $300 for different Currently, Illinois has reciprocity with the following states under the Real Estate License Act of 2000: [18]<\/a><\/sup><\/p>\n Checklist for reciprocity qualifications for an Illinois real estate broker license<\/p>\n Real estate agents in Illinois: By the numbers<\/strong><\/p>\n 50,015 <\/strong> According to ZipRecruiter, a real estate agent working in Illinois earns $76,653 per year on average, as of Sep 27, 2023. This is the equivalent of $36.85 per hour, $1,474 per week, or $6,387 per month. [20]<\/a><\/sup><\/p>\n While ZipRecruiter is seeing broker salaries as low as $27,544, they can be as high as $141,653. And the majority of real estate brokers\u2019 salaries is currently between $63,900 and $98,400, with top earners making $122,962 annually in Illinois. Of course, this salary average can vary based on your employment setting, level of education, years of experience, and the property market.<\/p>\n ZipRecruiter scanned a database of millions of active jobs published locally across the nation to determine that Illinois is ranked number 32 out of 50 states for real estate agent salaries. ZipRecruiter also reports that the top 5 area\/cities where the typical salary for a real estate agent is above average in Illinois are:<\/p>\n Based on several recent surveys, the average real estate agent commission rate in Illinois is around 5.2%. This average reflects the total for both the listing agent and the buyer\u2019s agent, and is typically split between the listing broker (2.5 to 3%) and buyer\u2019s broker (2.5 to 3%). [21]<\/a><\/sup> [22]<\/a><\/sup><\/p>\n <\/p>\n<\/blockquote>\n<\/li>\n $252,134 is <\/strong>the value of the average Illinois home, which is a 2.5% increase over the past year<\/p>\n 7 days is <\/strong>the average time it takes for an Illinois home to become pending (yes, that fast)! [23]<\/a><\/sup><\/p>\n<\/li>\n<\/ul>\n From tips on getting your real estate broker license in Illinois to news about the housing market across the nation, HousingWire is here for you for every step of your real estate journey. We provide you with the most up-to-date information and insights into the latest home trends, changes in real estate, and more.<\/p>\n\n
Requirements to get your real estate license in Illinois<\/h2>\n
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The Illinois real estate license exam<\/h2>\n
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\n\t\t\t\t\t\t\t\t\tHow hard is it to pass the Illinois real estate exam?\t\t\t\t\t\t\t\t<\/a><\/p>\n
\n\t\t\t\t\t\t\t\t\tHow long does it take to get a real estate license in Illinois?\t\t\t\t\t\t\t\t<\/a><\/p>\n\n
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\n\t\t\t\t\t\t\t\t\tHow much does it cost to get a real estate license in Illinois?\t\t\t\t\t\t\t\t<\/a><\/p>\n\n
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5 important steps to getting an Illinois real estate license<\/h2>\n
Step 1: Complete real estate broker prelicensing education\u00a0<\/h3>\n
Prelicense Education Requirements\u00a0<\/h3>\n
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Special considerations for attorneys in Illinois<\/h3>\n
Step 2: Successfully take the licensing exam\u00a0<\/h2>\n
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\n\t\t\t\t\t\t\t\t\tWhen and where to take the exam: Exam sites\t\t\t\t\t\t\t\t<\/a><\/p>\n\n
\n\t\t\t\t\t\t\t\t\tWhat to bring to the exam: Be prepared \t\t\t\t\t\t\t\t<\/a><\/p>\n\n
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\n\t\t\t\t\t\t\t\t\tHow to get your exam score\t\t\t\t\t\t\t\t<\/a><\/p>\nStep 3: Secure a managing broker for sponsorship<\/h2>\n
Ready to find a real estate brokerage?<\/h3>\n
1. The size and culture<\/h4>\n
2. The commission split<\/h4>\n
3. The support and mentorship opportunities<\/strong><\/h4>\n
4. The tools and technology to succeed<\/strong><\/h4>\n
Step 4: Complete your license application<\/h2>\n
Or visit the Online Services Portal<\/a> to apply. A complete application will need to include:<\/p>\n\n
Step 5: Start working under a managing broker<\/h2>\n
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FAQs to help you jumpstart your Illinois real estate career<\/h2>\n
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\n\t\t\t\t\t\t\t\t\tWhat happens if I take the licensing exam and fail one or both parts?\t\t\t\t\t\t\t\t<\/a><\/p>\n
\n\t\t\t\t\t\t\t\t\tCan I apply for a Illinois real estate license online?\t\t\t\t\t\t\t\t<\/a><\/p>\n
\n\t\t\t\t\t\t\t\t\tWhat is the Illinois real estate license renewal process?\t\t\t\t\t\t\t\t<\/a><\/p>\n
\n320 W Washington St, 3rd Floor, Springfield IL 62786. [14]<\/a><\/sup><\/p>\n
\n\t\t\t\t\t\t\t\t\tHow do I submit my license renewal?\t\t\t\t\t\t\t\t<\/a><\/p>\n
\n\t\t\t\t\t\t\t\t\tCan I still practice real estate if I have not completed my renewal requirements?\t\t\t\t\t\t\t\t<\/a><\/p>\n
\n\t\t\t\t\t\t\t\t\tCan I still practice real estate if I completed all the renewal requirements but my license hasn\u2019t been renewed?\t\t\t\t\t\t\t\t<\/a><\/p>\n\n
\n\t\t\t\t\t\t\t\t\tDo I need to be sponsored by a managing broker to renew my license?\t\t\t\t\t\t\t\t<\/a><\/p>\n
\nRenewing your license in Illinois and avoiding a lapse in licensure is simple with this checklist.<\/p>\n\n
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\n\t\t\t\t\t\t\t\t\tWhat are the continuing education requirements for an Illinois real estate agent renewing for the first time?\t\t\t\t\t\t\t\t<\/a><\/p>\n\n
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\n\t\t\t\t\t\t\t\t\tWhere and when can I take continuing education classes?\t\t\t\t\t\t\t\t<\/a><\/p>\n
\n<\/strong>Illinois Approved Pre and Post-License Courses and Schools<\/p>\n
\n45-hour post-licensing bundles. Depending on the CE provider, there are several delivery methods available, from in-person learning classroom to online distance learning, webinars, and home studies.<\/p>\n<\/li>\n
\n\t\t\t\t\t\t\t\t\tDoes Illinois have real estate license reciprocity with any other state?\t\t\t\t\t\t\t\t<\/a><\/p>\n\n
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\nlicensed and active real estate brokers in Illinois [19]<\/a><\/sup><\/p>\n<\/blockquote>\n<\/li>\n
\n\t\t\t\t\t\t\t\t\tHow much money does an Illinois real estate salesperson make?\t\t\t\t\t\t\t\t<\/a><\/p>\n\n
\n\t\t\t\t\t\t\t\t\tWhat\u2019s the real estate agent commission rate in Illinois?\t\t\t\t\t\t\t\t<\/a><\/p>\n\n
\n\t\t\t\t\t\t\t\t\tIllinois housing prices: By the numbers\t\t\t\t\t\t\t\t<\/a><\/p>\nThe bottom line<\/h2>\n
Articles Sources<\/strong> & Helpful Links<\/strong><\/h2>\n
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https:\/\/realestateschoolchicago.com\/there-is-no-such-thing-as-an-agent-in-illinois\/<\/a><\/li>\n<\/ol>\n\n
https:\/\/www.ilga.gov\/legislation\/ilcs\/ilcs5.asp?ActID=1364&ChapterID=24<\/a><\/li>\n<\/ol>\n\n
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https:\/\/www.illinoisrealtors.org\/wp-content\/uploads\/2019\/01\/Illinois-REALTORS-Pre-License-Handbook.pdf<\/a><\/li>\n<\/ol>\n\n
https:\/\/idfpr.illinois.gov\/content\/dam\/soi\/en\/web\/idfpr\/forms\/online\/2022%20Real%20Estate%20Broker%20Renewal%20Application.pdf<\/a><\/li>\n<\/ol>\n