Frequently Asked Questions

Course Questions (7)

Are there reschedule fees?

If you have already setup a time for your final exam and have to reschedule, there is a $25.00 administrative fee to reschedule the exam.

If I take the final exam, but I do not pass the exam, can I take the state exam?

Students are required to pass the state exam with at least a 75% on their exam.

Can I take the final exam at anytime?

Students are required to take the final exam during the scheduled exam time. Additionally, if you miss the scheduled exam final, you will be required to pay the $15.00 reschedule fee.

What is the in-class attendance policy?

Students who miss a class will be required to pay $10 per class. Additionally, you must attend all classes to take the final exam.

Where is the school located?

We are located at 2711 North Halsted Street. The nearest public transit is the Diversey Brown & Purple Lines. The Halsted and Diversey buses stop in front of our school.

How early should I arrive for the first class?

Students are encouraged to arrive 30 minutes prior to receive their materials and books.

Can I receive a refund for the course after the first class?

Students will not receive refunds after the first class.

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General (9)

How much does the state exam cost?

The state exam is $46.  You can take it up to four times.  If you fail the fourth time, you will be required to re-take the 90 Hour Broker Pre-Licensing Course or the Leasing Agent Course, depending on which license you are testing for.

What is the difference between a Salesperson’s license and a Broker’s license?

Beginning May 1, 2011, the Salesperson license category was effectively replaced with the Broker license category.  The new Broker license has the same rights as the Salesperson license; the difference being additional education requirements.  The state of Illinois is no longer issuing the Salesperson license.

What is included with the cost of registration?

All of our tuition includes textbooks, homework materials, a review session, final exam, transcript, and assistance with registering for the state licensing exam.

Does CREI Assist with job placement?

We do not offer direct job placement assistance, however students should not have difficulty with finding a brokerage that will hold their license, as most brokerages are actively seeking new agents all the time.

What positions require a broker’s license?

Those who represent owners and buyers within the sales relationship, including the interchange, administration, and leasing of residential, commercial, and industrial properties are mandated to hold this particular license. Those who want to perform duties related to leasing residential properties are required to hold a Leasing Agent License.

Are attorneys at law required to complete the prerequisites for a broker’s license? (including the 90 credit hours of pre-license education)

No. Attorneys approved to practice law in the state of Illinois and are currently in active standing are not required to complete 90 hours of pre-license education, however, they are required to pass the state examination.

Do you offer any discounts?

For a limited time Leasing Agents can get $100 off their upgrade to broker using coupon “MayUpgrade” at checkout. This coupon won’t last long so sign up NOW! 

Are the cost of my courses through CREI and/or licensing fee tax deductible?

Currently, you cannot deduct as a business expense education expenses you accumulate to qualify for a new business or profession. *Please always check with your tax professional, we do not provide tax advice.

 

How do I know when courses are offered?

Simply click the drop-down box correlating to your desired course. There you will find our upcoming courses and their time slots. Also, refer to our our calendar to see exactly which chapters are being covered in class each evening.

Are there reschedule fees?

If you have already setup a time for your final exam and have to reschedule, there is a $25.00 administrative fee to reschedule the exam.

If I take the final exam, but I do not pass the exam, can I take the state exam?

Students are required to pass the state exam with at least a 75% on their exam.

Can I take the final exam at anytime?

Students are required to take the final exam during the scheduled exam time. Additionally, if you miss the scheduled exam final, you will be required to pay the $15.00 reschedule fee.

What is the in-class attendance policy?

Students who miss a class will be required to pay $10 per class. Additionally, you must attend all classes to take the final exam.

Where is the school located?

We are located at 2711 North Halsted Street. The nearest public transit is the Diversey Brown & Purple Lines. The Halsted and Diversey buses stop in front of our school.

How early should I arrive for the first class?

Students are encouraged to arrive 30 minutes prior to receive their materials and books.

Can I receive a refund for the course after the first class?

Students will not receive refunds after the first class.

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Leasing Agent (6)

Can I really get licensed as a leasing agent in just one weekend?

Yes.  The leasing agent course is a 15 hour class, taken over the course of 2 days (Saturday and Sunday), for 8 hours each day (9:30 am to 5:30 pm). Once students pass the final exam (taken 2nd day of class) they go on to take the state exam to get licensed.

How much do I have to pay for my license to the state?

Getting licensed as a broker costs $125, not including MLS fees. Leasing agents pay $75 to get their license.  Please go to www.chicagorealtor.com for a full list of current MLS fees.

What is the difference between a Leasing Agent and a Broker?

Leasing agents are required to take a 15 hour course and pass the state licensing exam.  A Leasing Agent license only allows one to lease residential properties.  Brokers are required to take the 90 Broker Pre-Licensing Course as well as pass the state licensing exam but are enabled to assist with the leasing, selling and buying of residential, commercial, and industrial, etc. properties.

Do you offer any discounts?

For a limited time Leasing Agents can get $100 off their upgrade to broker using coupon “MayUpgrade” at checkout. This coupon won’t last long so sign up NOW! 

How much money do leasing agents typically make per transaction?

Each transaction is different. A leasing agent’s compensation is based on the rent amount of the property, the landlord’s compensation agreement and the leasing agent’s commission agreement.

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Managing Broker (6)

How much do I have to pay for my license to the state?

Getting licensed as a broker costs $125, not including MLS fees. Leasing agents pay $75 to get their license.  Please go to www.chicagorealtor.com for a full list of current MLS fees.

What states can I practice in with a course offered by CREI?

CREI’s courses are for Illinois licensure only.  However, a broker or managing broker who lives and practices real estate in a state that has reciprocity with Illinois may be issued an Illinois license if they meet certain criteria.  Please refer to IDFPR’s website for current updates on reciprocal states.  At the moment, under the Real Estate License Act of 2000, Illinois has reciprocity with Nebraska, South Dakota, Colorado, Connecticut, Indiana, Iowa, Georgia, and Wisconsin. Go to http://www.idfpr.com/dpr/re/realmain.asp for more information.

When do licenses expire?

Managing broker licenses expire on April 30 of every odd-number year, and broker’s licenses expire on April 30 of every even-numbered year.

Is there ongoing education required?

Yes. Managing brokers and and brokers who want to renew their license must complete 6 hours per year of real estate CE courses. Licensees who receive their initial broker or managing broker license less than 90 days prior to the renewal date do not have to complete continuing education for their first renewal.

What are the discrepancies between a broker and a managing broker?

Any individuals pursuing a real estate license in Illinois for the first time (and would prefer to become a broker as opposed to a leasing agent) must acquire a broker’s license. After two years of holding the broker’s license an applicant may choose to complete supplemental education and apply to become a managing broker. Once an individual has become a managing broker, they acquire the capacity to sponsor/become benefactor to their own license or those of others.

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Real Estate Broker (13)

What is the difference between a Salesperson’s license and a Broker’s license?

Beginning May 1, 2011, the Salesperson license category was effectively replaced with the Broker license category.  The new Broker license has the same rights as the Salesperson license; the difference being additional education requirements.  The state of Illinois is no longer issuing the Salesperson license.

How much do I have to pay for my license to the state?

Getting licensed as a broker costs $125, not including MLS fees. Leasing agents pay $75 to get their license.  Please go to www.chicagorealtor.com for a full list of current MLS fees.

What states can I practice in with a course offered by CREI?

CREI’s courses are for Illinois licensure only.  However, a broker or managing broker who lives and practices real estate in a state that has reciprocity with Illinois may be issued an Illinois license if they meet certain criteria.  Please refer to IDFPR’s website for current updates on reciprocal states.  At the moment, under the Real Estate License Act of 2000, Illinois has reciprocity with Nebraska, South Dakota, Colorado, Connecticut, Indiana, Iowa, Georgia, and Wisconsin. Go to http://www.idfpr.com/dpr/re/realmain.asp for more information.

What does it take to become a broker?

The minimum requirements to hold an Illinois Real Estate Broker License include having a high school diploma or the equivalent (G.E.D) and being at least 21 years old.  You must take and pass the 90 hour Broker pre-licensing course ( as well as the state licensing exam.  

What is the difference between a Leasing Agent and a Broker?

Leasing agents are required to take a 15 hour course and pass the state licensing exam.  A Leasing Agent license only allows one to lease residential properties.  Brokers are required to take the 90 Broker Pre-Licensing Course as well as pass the state licensing exam but are enabled to assist with the leasing, selling and buying of residential, commercial, and industrial, etc. properties.

How easy is it to get a job as a real estate broker once I pass the exam?

Finding a real estate brokerage that will hold your license is not difficult.  Because this is a commission based career, offices are almost constantly seeking new licensees to join their team.

Do you offer any discounts?

For a limited time Leasing Agents can get $100 off their upgrade to broker using coupon “MayUpgrade” at checkout. This coupon won’t last long so sign up NOW! 

When do licenses expire?

Managing broker licenses expire on April 30 of every odd-number year, and broker’s licenses expire on April 30 of every even-numbered year.

What are the different ways in which I can fulfill my broker’s 90 hour pre-licensing education credit?

Through Chicago Real Estate Institute, you can either choose to complete 75 hours of online coursework or self study accompanied by a textbook and homework materials.  The textbook will be mailed to you as soon as we receive and process your order.  You also have the option of picking it up at our location. Once 75 hours of self study are completed, please call us to schedule a time to take your final exam.. Upon passing the exam, 15 hours of interactive/in-class study must be completed. You also have the option of completing the entirety of the 90 hour course in-class. Both of these options cost the same amount ($560). Beginning on May 1, 2011, the state of Illinois no longer allowed pre-licensing programs which did not include a form of interactive (in-class) study.

How much money do real estate brokers typically make per transaction?

Each transaction is different. A broker’s compensation is based on the value of the property and the broker’s commission agreement.

Is there ongoing education required?

Yes. Managing brokers and and brokers who want to renew their license must complete 6 hours per year of real estate CE courses. Licensees who receive their initial broker or managing broker license less than 90 days prior to the renewal date do not have to complete continuing education for their first renewal.

What are the discrepancies between a broker and a managing broker?

Any individuals pursuing a real estate license in Illinois for the first time (and would prefer to become a broker as opposed to a leasing agent) must acquire a broker’s license. After two years of holding the broker’s license an applicant may choose to complete supplemental education and apply to become a managing broker. Once an individual has become a managing broker, they acquire the capacity to sponsor/become benefactor to their own license or those of others.

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2 comments on “Frequently Asked Questions”

  1. dianna mcclain

    what fee are included in being a real estate broker associate?
    I am new and have no idea what all the fee include.
    I have my illinois brokerage license but am afraid of the cost and don’t know what to do…. please help..
    thanks
    dianna

  2. Alejandra Escobar

    Hi Dianna,
    Please give us a call at (773) 880-7400 so we can help you out.
    Thanks,
    Alejandra Escobar
    CREI

Comments are closed.