Become a Real Estate Broker
As of May 1, 2011 the Broker license replaces the salesperson license.
According to Illinois law, a person needs a real estate license if they provide assistance which is in any way intended in the sale or lease of real estate such as representing clients in the negotiation of real estate sales contracts or leases, and issuing advertisements for the sale, purchase or lease of real estate, The assistance must be provided to others. Accordingly, a person who buys, sells, or leases real estate as a "principal" does not need a real estate license.
Compensation is a requirement. Therefore, a person who provides assistance on a real estate transaction to a friend or relative, without compensation, does not need a license.
- Be at least 21 years old
- Have graduated from high school or obtained the equivalent of a high school degree (GED)
- Be of good moral character
Six Steps to Become a Licensed Broker:
- Take and pass 75-Hour Course/Exam
- Take and pass 15 Hour Interactive Course/Exam
- Take and pass State & National Exam
- Find a Sponsoring Broker
- Apply to the state for license
- Complete 30 Hour Post (15+15) by first renewal
Becoming a Managing Broker
In order to become a Managing Broker you must be licensed and practicing real estate for two years and then complete the 45-Hour Pre-License Course.