Article Summary: This article will help anyone looking for information pertaining to a real estate license in the state of Illinois or anyone looking to become a real estate agent or realtor in Illinois. Contents of this article may include information on real estate education, schools, training courses, continuing education, tests and exams, laws, license requirements, renewal information, forms and more..
The Illinois Division of Banks and Real Estate is a division of the Illinois Department of Financial and Professional Regulation (IDFPR). The Bureau of Real Estate Professions administers and enforces the Illinois Real Estate License Act of 2000 and is responsible for the licensing and regulation of all real estate agents. The main office of the Bureau is in Springfield.
The requirements for a real estate salesperson license in Illinois include being at least 21 years old and having either a high school diploma or a GED. Under certain circumstances the age requirement may be lowered to 18 years of age. The applicant needs to complete the 45-hour Real Estate Transactions course at an approved real estate school. Attorney's applying for the salesperson license need to be admitted to practice law by the Illinois Supreme Court but do not need to take a 45-hour Real Estate Transactions classroom course.
The requirements for a real estate broker license in Illinois include being at least 21 years old, having a high school diploma or a GED, and having successfully completed 120 hours of the Real Estate Transactions courses that were not taken for the salesperson license. In addition, the broker applicant must successfully complete 75 classroom hours of broker courses at an approved school. The classes taken are valid for three years before the examination. It is possible in some cases to replace the 120 hours of courses with having a valid Illinois real estate salesperson license. Attorneys may receive a broker's license if they are at least 21 years old and are admitted to practice law by the Illinois Supreme Court.
Illinois has
reciprocity agreements with ten other states. To obtain an Illinois salesperson license by reciprocity the applicant needs to be at least 21 years of age and a resident of the reciprocal state. The applicant only needs to take the Illinois portion of the real estate exams. To obtain an Illinois broker license by reciprocity the applicant needs to be at least 21 years of age, have a high school diploma or GED, be a resident of the reciprocal state, and have been licensed in the reciprocal state for a minimum of two years. The applicant for the broker license by reciprocity only needs to take the Illinois portion of the real estate exams.
Some of the
approved Real Estate Schools for Prelicensure allow the student to take courses by correspondence. Students may also take correspondence courses from some of the approved
Continuing Education Real Estate Schools. Those who receive their salesperson license after May 1, 2004 are not required to take continuing education courses.
The
examination fees are $45 for either a salesperson applicant or a broker applicant. The license fees for real estate agents are $125 for a salesperson initial license and $100 for a salesperson to renew a license. If the salesperson license has expired, the renewal fee is $150. Brokers pay $125 initial license fee and $150 for the broker renewal fee. To renew an expired broker license, the fee is $200.
Real estate careers are enhanced by membership in the many organizations that provide services for the professional agent. Those holding a real estate license usually join organizations like the
Illinois Association of Realtors, the National Association of Real Estate Brokers (
NAREB), and the Association of Real Estate License Law Officials (
ARELLO). The National Association of Realtors (
NAR), the world's largest professional association, assists many in locating real estate jobs within the industry. These organizations are also excellent resources of real estate education.
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