Illinois State Required Pre-Licensing Hours: 45hours
Agent Real Estate Schools Illinois Course Hours Offered: 45 hours
Step 1: Meet the state’s requirements as outlined by the Illinois Department of Financial & Professional Regulation-Division of Real Estate.
- You must be 20 years old and above.
- You must have a high school diploma or its equivalent (GED).
- You must already be a licensed real estate broker in Illinois.
- Have worked as a broker for two consecutive years of the preceding three years.
- You must have maintained your broker status by completing 30 hours of post-licensing.
Step 2: Complete the required 45-hour pre-licensing course for Managing Broker at an institution approved by the Illinois Department of Financial & Professional Regulation-Division of Real Estate.
Step 3: Register and pass the licensing exam by earning a score of 75% or higher.
Step 4: Submit your application for an Illinois managing broker license. Be sure to follow the application procedures required by Illinois Department of Financial & Professional Regulation-Division of Real Estate.
How Long Does It Take to Get an Illinois Managing Broker License?
It can vary from person to person depending how fast or slow you can complete the required 45 hours of pre-licensing courses. You must also pass your licensing examination as well as completing the application process, obtaining sponsorship and the application processing times are also a factor.
What Will I Learn to Help Me Get a Managing Broker License in Illinois?
All courses are approved by Illinois Department of Financial & Professional Regulation-Division of Real Estate and once you complete them you are eligible to sit for the Illinois Managing Broker Licensing Exam.
Agent Real Estate Schools gives a window of 12 months from the start date of your courses, to finish the required 45 hours.
The required courses within the 45 hours include:
- Managing Broker pre-licensing education (30 hours)
- 15 mandatory interactive hours
The courses may be obtained through state certified real estate schools, approved college and universities and education completed at other licensing jurisdictions.
How Much Does It Cost to Get a Managing Broker License in Illinois State?
Becoming a real estate broker in Illinois requires time and money but is very rewarding. The amount of money spent might vary, but an aspiring Broker will spend up to $700 initially to get their license.
How these costs break down:
- Pre-licensing exam coursework can run up to $350.
- Application fee: $150
Real Estate License Reciprocity
Yes, Illinois does offer reciprocity with select states.
Out-of-state residents are required to:
- You must be at least 20 years old and above
- You must have an active Managing broker’s license or equivalent by examination in a state that has a reciprocal agreement with the Department of Financial and Professional Regulation.
- You must provide original certificate of licensure from your jurisdiction.
- You are required to take only the Illinois State Supplemental examination.
- Your sponsor must have an active broker or managing broker license in Illinois. A managing broker can self-sponsor. After certain period, your sponsor must have a managing broker license.
- Your managing broker license must have been in an active status during the immediately preceding two years.
How Do I Apply for The Illinois Managing Broker Licensing Exam?
After completing the required pre-license course, you have up to two years to apply for your exam. Illinois partners with PSI to conduct the state licensing examinations. Applicants must register with PSI as a student prior to course completion and you can do this by creating an account with PSI.
If testing under the 45-hour Illinois Managing Broker category, you must have an active Illinois Broker License at the time you apply before you can be licensed as a Managing Broker.
You can schedule your exam directly by visiting PSI or you can call 855-340-3894. You can also schedule your exam through a fax or mail registration form found in the PSI Illinois Candidate Handbook.
The broker examination must be passed within 4 years of the end date of the appropriate pre-license course. If you miss the deadline, you must retake the course. Your school will need to electronically submit verification of course completion to PSI otherwise you will not be able to schedule the state exam.
Refer to the Illinois Real Estate Commission License Examination Candidate Bulletin for more Information about scheduling of examination.
How Do I Submit My Fingerprints for The Background Check?
Applicants are required to submit their fingerprints so a criminal background check through a fingerprint vendor licensed by the department can be conducted. Fingerprints must be taken within 60 days from the date that the application is submitted to the Department or the Department’s testing vendor It takes about two- three days for your fingerprints to be reported to the IDFPR, so make sure to schedule your appointment through Accurate Biometrics at one of the fingerprinting vendor locations at least two days prior to the exam.
Remember to bring two forms of paper identification with you to your fingerprinting site as well as your Fingerprint Form. For additional information, visit the Accurate Biometrics FAQs page.
How Do I Take the Illinois Managing Broker Licensing Exam?
The Illinois Real Estate Managing Broker Exam is divided into two parts:
- Part 1: National Exam
- Part 2: State Exam
Broker licensing exams in Illinois are administered by PSI exams at www.psiexams.com but before registering, your school will need to electronically submit verification of course completion to PSI otherwise you will not be able to schedule the state exam. After taking the exams, you will report to the test supervisor immediately for your test result. Applicants must pass both the national and state portion of the exam. However, if you fail one, you are required to retake only the failed portion. You have 12 months from the date of passing the other portion to retake and pass the order portion.
You will also be asked series of candidate screening questions following your exam. Depending on your answers, you may need to provide additional documentation with your license.
How Do I Submit My Illinois Managing Broker Application?
Prior to submitting your broker application, you will need to obtain sponsorship from a managing broker. You can submit your license application to the Illinois Department of Financial and Professional Regulation (IDFPR) alongside some required documents.
- Any court documentation and sworn statements regarding any positive responses on the applicant screening form (if applicable).
- Original certification of license held in any other Jurisdiction.
- Information about your managing broker.
- Your official score report from PSI.
- Proof of payment of the initial application fee.
Note: You have 12 months to apply for a managing broker license with IDFPR after successfully passing the state license examination.
Does Illinois Require Post-Licensing Education?
New licensees are required to complete 45 hours of post-license education and a 1-hour course in Sexual Harassment Prevention Training prior to renewing their license.
The required courses within the 45 hours include:
- Broker Post License Transactional Issues (15 hours)
- Broker Post License Risk Management/Discipline (15 hours)
- Broker Post License Applied Broker Principles (15 hours)
Illinois Managing Broker License Renewal
Illinois managing broker licenses are good for two years. Renewal fees will run you $100.
Does Illinois Require Continuing Education?
Illinois real estate agents who are renewing their licenses or filing for a late renewal must complete 24 hours of approved continuing education coursework.
The required courses within the 24 hours include:
- 12 hours of Broker Management CE,
- 4 hours of Core CE
- 8 hours of elective CE that includes one hour of sexual harassment prevention training.
Obtaining Certificate of Course Completion: Upon completion of the course, you will be provided an electronic certificate of completion which can be found in the “my courses” tab in your student portal. Next to each completed course you will find an icon for the course completion certificate.
You will be required to submit your certificate of completion with your license request, please refer to your license application to determine if this is necessary.
Illinois Department of Financial & Professional Regulation-Division of Real Estate
Phone: 217-782-3414 or 888-473-4858
Address: Springfield Office – 320 West Washington St, Springfield, IL 62786
Chicago Office – 100 West Randolph, 9th Floor, Chicago, IL 60601
Illinois License Lookup Website