Find out what the steps are to obtain your Illinois real estate license so you can begin your new profession sooner than you think.
Are you looking to change career paths or maybe even wondering “what does it take to get a realtor license?” The process can seem lengthy, but it’s not as bad as you might think. To become a real estate agent in Illinois, you’ll need to take the required 90 hours of relicensing coursework and pass the Illinois Real Estate Broker Exam. However, in less than a year, you can find yourself showing some of the best homes for sale in some of the most affluent neighborhoods of Illinois.
In the State of Illinois, the people who helped clients buy and sell properties were known as real estate agents, whereas brokers required additional training and licensure to manage real estate offices. However, now, all those who practice real estate are known as brokers. Illinois is one of the only states to which this applies.
These are the steps that you need to take to get your Illinois Real Estate License:
1. Take the Prelicensing Coursework
As a real estate broker, your responsibility is to help clients buy and/or sell properties. In addition to passing the Illinois Broker Exam, you’re required to take 90 hours of coursework. These hours are split into 2 segments.
75 hours of coursework will cover real estate broker topics including fair housing, real estate law, and appraisals. The remaining 15 hours will cover applied real estate principles like how to sell distressed properties or how to work with multiple offers.
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2. Apply for and Pass the Illinois Real Estate Broker Exam
After prepping with PrepAgent and you feel confident enough to take your Illinois Real Estate Broker Exam, it’s time to apply. The State of Illinois uses PSI which is a testing service that administers the broker exam.
To apply, your real estate school will be required to electronically submit verification of your completion of the 90 hours of classes, after you have registered with PSI. After this is done, you can schedule a time to sit down and take your exam.
3. Find a Brokerage
After successfully passing the Illinois Real Estate Broker Exam, you’ll officially be one of the Illinois realtors. You must now find a managing broker to work under, as a new agent. Different brokerages will offer different things, including commission splits and more. It’s best to shop around first if you haven’t already made up your mind.
4. Complete the Licensure Process
The licensure process will have to be completed once you’ve passed the broker exam and found a managing broker. Go to the Illinois Department of Financial and Professional Regulation website, log in, fill out the application, and pay the fee. After the application is approved, you’ll be notified by email.
If you’re ready to get your Illinois real estate license and you need a bit of help preparing for the exam, turn to PrepAgent, and let us help!