Since the real estate market is showing signs of recovery, now is an excellent time to consider becoming an agent. If you’ve been thinking about a career in real estate, knowing the state of Illinois real estate requirements ahead of time can be very helpful.
Illinois has three different types of licenses, which are broker, managing broker and leasing agent. Each one of them has different requirements as well as restrictions on the type of work that can be performed.
To qualify for a broker’s license, you must take an approved 90-hour pre licensing course. Of those 90 hours, 75 hours comes from textbook material and the other 15 is known as an Interactive Session. That session can be taken in a classroom or via a webinar. After taking an approved course, you must pass the final exam to receive credit for the course. Passing the course exam will enable you to sit for the state licensing exam, which is administered by Applied Management Professionals at locations throughout the state.
A managing broker directly supervises other brokers. To become a licensed managing broker, you will need to undergo 45 hours of approved instruction, 15 of which must be the Applied Real Estate Principles course. You must also have experience working as a real estate broker for two out of the previous three years in order to qualify as well.
To become a leasing agent, you must first have a sponsoring broker who is licensed with the state of Illinois. After that, you must complete a 15-hour course, which can be taken in a classroom setting or completed via self study. Once you complete the course, you will then be required to pass the statewide exam.
Becoming an Illinois real estate agent begins with the right training course. Here at the Chicago Real Estate Institute, we can provide you with the training you need to begin your career with. We have online, classroom and self-study options so you can choose the one that is right for you. To find out more, contact us.