One of the nice things about the Internet is it gives you access to a greater number of companies offering Illinois Real Estate License training. Whether you live in Chicago, Valley City, or elsewhere in the state, you can access the same pre-licensing training companies. Since you’re reading this, you already have an important tool to help you in your progress toward obtaining your real estate license – an internet connection. But before you proceed, it would be wise to learn a little bit about the requirements for the different types of real estate licenses.
There are three licenses available to individuals: Leasing Agent, Broker, and Managing Broker. Illinois no longer issues salesperson licenses. To sell real estate now requires a Broker license.
If you wish to obtain a Leasing Agent license, you’ll be required to successfully complete 15 hours of instruction in an approved course on the leasing of residential property. As a licensed Leasing Agent, you’ll be able to work in the residential property leasing industry.
Obtaining a Broker license requires 90 hours of instruction in approved courses. 15 of those hours must be devoted to the approved Applied Real Estate Principles course. Newly licensed Brokers are also required to take an additional 30 hours of post-license broker courses through an approved pre-license school. This must be done prior to the first renewal or your license. As a Broker, you’ll be able to work in the real estate sales field.
Click here for detailed information on the Broker curriculum.
To become a Managing Broker requires additional training over and above the combined 120 hour broker requirement. Managing Brokers are required to complete 45 hours of approved training including the approved 15 hour Applied Management and Supervision course. In addition to more training, Managing Brokers are required to have experience as a salesperson or broker for two of the past three years. As a Managing Broker, in addition to selling real estate, you’ll be able to manage and supervise a team of other real estate brokers.
Click here for detailed information on the Managing Broker curriculum.
All three licenses described above also require you to pass a state real estate exam, file an application with the state, and pay a fee.
Contact us to learn how you can study for your Illinois real estate license from anywhere in the state.