Illinois Real Estate Broker License Requirements
A Candidate Must:
- Be at least 21 years old
- Have graduated from high school or obtained a GED
- Be of good moral character (no felony convictions, no delinquent child support, no delinquent state income tax or delinquent student loan payments)
- Complete a state-approved 90-hour Real Estate Broker Pre-License course package with 75 hours classroom or an equivalent home study course and 15 hours of mandatory classroom instruction. 30 hours of post-license education is also required
- Pass the written State License exam
Upon completion of the pre-license course package, the school will send notification of the student’s completion electronically to the licensing authority. The license candidate must contact the testing center, AMP, for an examination appointment. Appointments for license testing can be made: 1) online 2) by phone 3) by fax 4) by mail. AMP’s phone number is 1-800-345-6559.
The fee for the exam is $46.00, with payment required for each attempt. You’ll need two forms of identification; one must be a photo ID. A fingerprint scan and a photograph will be taken at the testing site.
The state exam is a computer based, multiple choice, Pass/Fail exam and is scored immediately. Passing grade is 75%. When you pass, you’ll receive all the paperwork necessary to bring to the sponsoring broker of your choice to activate your real estate broker license.
Illinois Real Estate Education
The State of Illinois requires an entry level broker to complete 90 hours of education. 75 hours may be Flexible-Learning or home-study and 15 hours must be classroom education. An additional 30 hours of post-license education is also required before the licensee’s first license renewal.
After passing the school’s final exam, you will be allowed to take the state exam administered by AMP (Applied Measurement Professionals, Inc.)
After passing the state exam you will need to affiliate with (become sponsored by) a real estate managing broker. Your managing broker will send the paperwork to the state (IDFPR) and issue you a 45-day permit. That permit allows you to begin your real estate career immediately. The state will send your license and pocket card to your home. You’ll bring the license to your managing broker to be displayed in the office and, of course, the pocket card goes into your wallet which needs to be carried with you whenever you’re doing real estate. The pocket card (or sponsor card) replaces the 45-day permit.
Licenses are renewed every two years and you will be required to complete 12 hours of Continuing Education before you can renew.
Illinois State Exam
The State of Illinois contracts with Applied Measurement Professionals, Inc. (AMP) to administer the Real Estate License Exam. The exam is computer based and is given by appointment Monday through Friday at 9:00 a.m. and 1:30 PM. Saturday testing is also available at select locations.
The examination fee is $46.00 (payment required for each attempt) and payment may be made by credit card, cashier’s check or money order made payable to AMP. Examination fees are not refundable or transferable and expire in 90 days.
Examinations may be scheduled only AFTER you successfully complete your pre-license studies with a state-approved real estate school.
Appointments for testing can be made: 1) online 2) by phone 3) by fax 4) by mail. AMP’s phone number is 1-800-345-6559.
The Broker exam is 140 multiple choice questions and passing is 75%.
You can find complete details in the Real Estate Examination Program Candidate Handbook published by AMP. You can call AMP for a free printed copy or click here to download.
Illinois Real Estate Sponsorship
After passing the state exam, a licensee must be sponsored (affiliated) with a real estate managing broker and will most likely be hired as an independent contractor (IC). The agent/broker must have a written IC contract with the managing broker that defines their relationship, including supervision, duties, compensation, and termination.
The managing broker is fully responsible for the actions performed in the course of the real estate business by all persons he or she sponsors. In turn, all of the agent/broker’s activities must be performed in the name of the sponsoring broker. Sponsored agents/brokers act on the managing broker’s behalf in all real estate related matters.
Pre-license education is designed basically to get real estate students to pass the Illinois State exam. Passing the course and passing the state exam, however, do NOT prepare you to earn a living in real estate. After the education comes training.
One of the important things to look for when selecting a managing broker to work for is the type and extent of training you can count on receiving. Simple things like how to fill out a sales contract or a listing contract all the way up to the vital skills such as how to prospect for clients and negotiating, all require professional training.
There are many skills needed to create and maintain a successful real estate career and that’s where training is vital. For example:
- Time management skills
- Interviewing skills
- Negotiation skills
- Understanding market trends & conditions
- Understanding the entire buying & selling process
- Developing good People Skills
Training can take place: 1) outside the office in a training center 2) in the office with your manager 3) or with a mentor or coach. Some companies use all three methods.
In addition to corporate and office training there are individual resources you can use to get yourself on the fast track to success.
Many can be found in your local book store or you can click here to order them from our on-line real estate book store.