The Most Frequently Asked Illinois
Real Estate Career Questions

There are five steps to get your Illinois Real Estate Broker license as a state resident:

• Complete Your Pre-Licensing Education. Illinois requires 75 hours of pre-licensing education to get your real estate license, split into two courses: a 60-Hr. Broker Pre-License Topics and a 15-Hr. Applied Real Estate Principles course. Most education providers will offer Illinois Real Estate Packages that include all your education requirements, plus additional resources to help you prepare for the state exam.
• Pass the Course Exam. Finish all the course materials and pass the practice exam. Then, pass the final exam with at least a 75%. Your completion of the pre-licensing education requirements remains valid for two years.
• Pass the State and National Exam. Next you must take and pass the Illinois real estate licensing exam, which is administered by PSI. You can go to PSI’s website to schedule your exam appointment. This test has two sections, covering both state and national requirements. There are 140 questions total, and you’ll have four hours to answer all questions. Check out the PSI Candidate Handbook for more information. Once you pass your exam, you’ll receive instructions for how to complete your license application. application.
• Select a Sponsoring Broker. To be licensed, you must first be associated with an active Illinois broker. Choosing the right sponsoring broker is an important step since this person will act as your mentor in your new career.
• Complete the License Application. After completing all licensing requirements, you’ll need to apply for your Broker license online with the Illinois Department of Financial and Professional Regulation (IDFPR). The application process is through the IDFPR Online Services Portal. If you’d like a step-by-step guide, check out how to submit an online real estate application to the IDFPR. You will receive notice from the IDFPR confirming your application is in review. You can check the status of your license through the IDFPR’s License Lookup service.

Overall, many people can receive their Illinois Broker license in a couple months, but the time it takes will depend on several factors.

First, the 75 hours of pre-licensing education. This will most likely take up the largest portion of your time. If you treat your education like a 40-hour workweek, you can finish your education in as little as two weeks. If you can commit 20 hours per week, you can finish your education in under a month. Study at a pace that works for you. The last thing you want is to retake the licensing exam multiple times.

Second, scheduling the exam may add another week or more, depending on the exam location’s availability.

Finally, the application process will take two to four business days minimum. Once your license application is approved, you’ll get your license, and you’ll be ready to start the 45 hours of post-licensing education.

• Your pre-licensing education in Illinois costs anywhere between $300–$800, depending on which provider and package you select.
• The initial broker application fee is $150.
• The fee to take the exam is $58.

The State of Illinois says you must be at least 18 years of age or older to get your Broker license.

All Illinois real estate license applicants are subject to criminal background checks. A criminal record may impact your ability to attain a real estate license in Illinois. Check out the IDFPR Criminal Conviction FAQ page for more information.

The fee to take the exam is $58.

Illinois has reciprocity with nine states: Colorado, Connecticut, Florida, Georgia, Indiana, Iowa, Kentucky, Nebraska, and Wisconsin.

The reciprocity requirements are different for brokers and managing brokers. A managing broker may receive an Illinois license if they:

• Have been active as a managing broker for the previous two years
• Are in good standing in their home state
• Pass an Illinois-specific real estate law exam

A broker may receive an Illinois license if they:

• Are in good standing in their home state
• Pass an Illinois-specific real estate law exam
• Have a sponsor who has an active managing broker license in Illinois

Continuing education requirements must be completed every two years by April 30th. For real estate brokers, the biennial deadline falls on even years. For managing brokers, the biennial deadline falls on odd years.

You must renew your license every two years by April 30th. Real estate brokers must renew on even years, and managing brokers must renew on odd years.

All brokers must complete 45 hours of approved broker post-licensing courses within their first license term and are not required to complete any other CE during that license term. More about post-licensing below.

For every following renewal period, the state of Illinois requires brokers to complete 12 hours of CE every two years. This must include a 4-hour Core course and 8 hours of elective courses, including a sexual harassment prevention training.

The state of Illinois requires 24 hours of CE for managing brokers every two years.

The courses must include a 12-hour Broker Management course, 4 hours of Core CE, and 8 hours of elective CE that includes 1 hour of sexual harassment prevention training.

No. The first time you renew your license as a broker, you will need to complete 45 hours of post-licensing education. You do not need to complete the 12 hours of CE if you are required to do post-licensing.

The second time you renew your license as a broker, you will only need to complete 12 hours of continuing education.

Your educational provider will report your CE (after completion) to the IDFPR. You can check your transcript and see your completed CE hours using IDFPR’s CE Lookup system.

Post-licensing (or first renewal) for brokers is required in some states. It’s a one-time education requirement that strengthens a broker’s knowledge after getting a license and is required by law. (Continuing education, by contrast, is ongoing coursework to maintain the license and stay current with industry changes.)

In Illinois, real estate brokers must complete 45 hours of post-licensing education before their first license renewal.

Illinois Post-Licensing education for real estate brokers with The CE Shop is $295 for the Broker Post-Licensing Package, which includes all 45 post-licensing hours needed for Illinois brokers renewing their licenses for the first time.

If you’d like to further broaden your knowledge base, ProPath offers a variety of professional development packages for around $369. Individual, 15-hour courses will run you around $115.

You can do a LOT with a Real Estate Broker license in Illinois, including:

• Help clients sell, lease, and buy properties
• Establish and manage your own real estate brokerage firm
• Supervise and hire other brokers to work for you
• Become a property manager

One of the biggest advantages you have as a managing broker is the ability to hire other brokers to work for you – which is very financially rewarding!

Yes! To start your own real estate business, you’ll need a Managing Broker license. Then, you’ll be able to hire other brokers to work for you. You’ll make a commission on every transaction that your brokers complete.

To get a managing broker license in Illinois, you must:

• Meet the Experience and/or Education Requirements. You must show proof of at least one of the following to get a managing broker license:
  • You currently have an active valid Illinois real estate broker license and have held an active valid real estate broker license in good standing for two consecutive years of the past three years and have completed 45 hours of pre-licensing education that includes:
    • Managing Broker Pre-License Topics (30 hours)
    • Managing Broker Pre-License Applied Management and Supervision (15 hours)
  • You have held an active Broker license for two of the past three years and are a licensed Illinois attorney
  • You have completed 165 hours of pre-licensing education that includes:
    • Broker Pre-License Topics (60 hours)
    • Broker Pre-License Applied Real Estate Principles (15 hours)
    • Broker Post-License Transactional Issues (15 hours)
    • Broker Post-License Risk Management/Discipline (15 hours)
    • Broker Post-License Applied Broker Principles (15 hours)
    • Managing Broker Pre-License Topics (30 hours)
    • Managing Broker Pre-License Applied Management and Supervision (15 hours)
• Show Your Certification of License History. If your experience is from a state other than Illinois, provide a certification of license history. You’ll need to include details on your initial license exam type, current license status, disciplinary information, and active months within the last five years.
• Pass Your State Examination. You’ll need to pass the PSI Managing Broker Exam with a score of 75% or higher. There’s a total of 130 questions on the exam, and you’ll have 4 hours to complete it. For a helpful guide, check out PSI’s Candidate Information Booklet.
• Pay Required Fees. Pay the specified fee as per the application. Military veterans, spouses, and Illinois National Guard members may be eligible for fee waivers, reimbursement, or discounts.
• Complete the Application For Licensure. Go to IDFPR’s website, create an online account, link your current broker license, and complete the online application.

According to Salary.com, managing brokers make an average salary of $109,000 a year in Illinois. However, some reported salaries are as high as $132,000, depending on your education and how long you’ve been a managing broker.

Yes! Many brokers choose to only work part-time, and for good reason. You can sell properties full-time to receive a high salary or sell just a few homes a year for some extra pocket money.

To find a real estate brokerage to work for in Illinois, you can:

• Search Online: Conduct an online search looking for managing brokers in your area. In general, managing brokers are looking for new agents and will be happy to talk to you.
• Talk to Other Agents: Get advice from other agents in your area!
• Consider an Online Brokerage: There are many real estate brokerages today that have a virtual office. You’ll meet with clients over the phone or in public places.
• Check Out the National Association of REALTORS®. Their website contains resources for new agents and statistics on real estate brokerages around the country.
• Learn More Here: Check out this blog on how to find a real estate brokerage to work for if you’d like more advice.

You can start finding the right sponsoring brokerage by Googling brokerages in your area. Make a list of brokerages you’d like to work with, and then contact them by phone or email.

No. But if you become a managing broker, you can! A broker in Illinois must work under the direction, control, or management of a managing broker

Some of the best skills salespersons can have include:

• Good Communication & Negotiation: Good communication and negotiation skills are imperative as a broker.
• Market Insight: It’s important to stay up-to-date with industry changes in real estate. You can stay ahead of the competition by investing in professional development courses.
• Tech Savviness: Learning how to be tech-savvy is important to communicating with your clients and marketing your business well.
• Networking: Real estate is a career for social butterflies! Make sure to get out there and attend social events to network.

Note: These courses are optional, non-credit courses.