How to Get a Illinois Real Estate License

Step-By-Step Guide to Become a Licensed Illinois Real Estate Broker

Are you interested in becoming a real estate agent in the great state of Illinois? Of course you are, real estate is booming here! Well, hold on tight  cause we’re gonna fire off the four steps you need to get your hands on an Illinois real estate license.

You ready? Let’s break it down, step by step.

Step 1: Start by Taking a Course to Become a Realtor in Illinois

School’s Back in Session

You’re required to take a “pre-licensing” education class where you’ll study the principles of real estate, contracts, and finance. Not a fan of school? Well, these classes just might change how you feel about school. You have so many options! Some of them are even entirely online which has huge advantages! Online classes means you can do them at your own pace and work them in around your own schedule even if you have a full-time job. Also, the classes are only a total of 75 hours! That may seem like a big number, but to get started in a new career, that number is just a speck in time.

There are plenty of options for completing the course including all in-person, all-online webinar with a live instructor, a combination of both or all-online self-paced study modules. There are also accelerated options that are in-person or online live webinar where you can complete the pre-licensing course in just 3 weeks.

But what’s included in those 75 hours? Take a look at the curriculum and see for yourself:

• 60-Hour Broker Pre-License Topics course
• 15-Hour Applied Real Estate Principles course

Don’t be scared off by the vocabulary. This is what the classes are designed for. They’ll defang any confusing topics by breaking them down. Still scared? Trust me, you can do this. The pass rates after taking these classes are sky-high, typically over a 90% pass rate and the support these classes offer is amazing.

Students are always surprised how affordable these classes are. Take a look at the best real estate schools in Illinois and see for yourself. If you’re still looking for a way to save some dough, Agent Advice offers a way to get yours for free.

Step 2: Pass the Illinois Real Estate License Exam

It’s not enough to finish the course to get your IL realtor’s license; you also need to pass the licensing exam. You must be aware that you must pass the exam in order to move on to the next step. If you don’t pass on your first try, you can take it again. 

The test has 140 multiple-choice questions, 100 of which are national real estate questions, and the remaining 40 being state related. You’ll have 2 ½ hours to complete the national portion of the test, and a score of 70% is required to pass. Then, you’ll have 90 minutes to complete the state portion of the test, and a score of 75% is required to pass.

Don’t worry – results will be provided immediately upon completion.

It’s important to make studying for these exams a point, so you don’t have to keep paying money to retake them. You should enroll in a real estate school that will teach you all you need to know to pass the exams on the first try.

Once you pass the exam, you will be required to submit your licensing application to the Illinois Department of Financial and Professional Regulation (IDFPR). And you are meant to do that via a sponsoring broker which brings us to our next point. 

You have two years to take the licensing exam after finishing your education requirements to get your realtor’s license in Illinois. After that you’ll need to retake the course. Once you finish the real estate course you can take your exam in as quickly as two days. Good luck – even though we know you don’t need it!

The nice part about the IL licensing test is that if you pass one portion and fail the other, you don’t have to retake the entire test. You only have to retake the portion you failed – national or state.

Step 3: Select a Sponsoring IL Real Estate Broker

In Illinois, you cannot be given a real estate license if you are not associated with an active sponsoring broker. Selecting the right sponsoring broker for you is something you should carefully do because whoever you choose will be a mentor to you when you begin your real estate career. Don’t be in too big of a hurry to choose a sponsoring broker, and before you choose one, look out for the following:

• Check if there are possibilities for you to grow within that brokerage. If there are no structures in place that will ensure that you grow, you shouldn’t choose that sponsoring broker.
• Ask if they give their real estate agents marketing materials and leads. You need a sponsoring broker that will provide you with the right resources that will aid your growth in the real estate industry.
• Inquire to see if your intending sponsoring broker will provide you with benefits.  You should only be associated with a sponsoring broker that has tons of benefits to offer you–it’s important. 
• Find out how their commission structure is built. A good sponsoring broker should have a commission structure that benefits everyone. 
• Find out if they support their real estate agents with training and educational opportunities. You need these training sessions to stay updated and relevant in the real estate industry. 
• Find out if they are passionate about staying up-to-date with technological systems. You should not be associated with a sponsoring broker that is not open to better ways of getting things done. 
• Find out the type of real estate agent that the sponsoring broker is searching for. Then, check if you fit into what the broker is looking for. 
• Do thorough research on their local and national reputation. Get reviews from people that have used them in the past or are currently using them. If their reputation is not satisfactory, then you shouldn’t be associated with them.

Tip: Interview with a small, mid-sized, and large brokerage. Boutique brokerages are growing rapidly in popularity and every agent would have an ideal fit somewhere in this mix. Some want a larger national franchise. Also know that you are interviewing the brokerage and not the other way around. Pay close attention to monthly fees and other fees (marketing, franchise, etc) in addition to “commission structure”. Administrative support is also very important at a real estate brokerage.

Step 4: Apply for Your Real Estate License in Illinois

You can only apply for your IL broker license through the Illinois Department of Financial & Professional Regulation, so submit your application after passing your exam and choosing a managing broker. Once that is done, the state will then run a background check to verify that the information you provided is accurate. 

Mission Complete

Those are the steps you need to get your Illinois real estate license. Yes, you might have to trudge through paperwork, check boxes, file forms, burn the midnight oil, chug coffee … but after all that … you’ll have your license. We recommend printing it out on super-gloss and framing it. Leave some room next to it for your first commission check; A LOT of room!

That’s all folks! Once you make it through these steps you’ll have a brand new career ahead of you. If there’s anything we can do to help you make it through these steps please let us know. We’ve got pre-licensing classes, cram courses, and all sorts of resources to help.

What are the real estate license requirements as per the Illinois DRE?

Hello criteria, pleasure to meet you!

Let’s answer the most obvious question straight out of the gate. “What the heck is DRE and why do I need to impress them?!” Well, DRE is short for the Division of Real Estate and it’s their job to make sure all agents in Illinois are capable, qualified, and can lawfully work in the state. To do so, they have some basic criteria you must meet. Luckily, most of the requirements are pretty straightforward.

Let’s meet the criteria:

1. You must be at least 18 years old.
2. You must be a U.S. citizen or a lawfully admitted alien.
3. You must have a high school diploma or GED equivalent.

The good news is that most of our visitors/users don’t need to worry about it. The only time you’d need to be concerned is if you have any criminal offenses, unpaid judgments, disciplinary actions taken against a professional or occupational license, or have performed unlicensed real estate activity.

In IL, unpaid child support is also an issue when obtaining your real estate license.

How much does it cost to get a real estate license in Illinois?

The overall cost depends on the pre-licensing course you choose, as this takes up the biggest portion of the costs. A lot of companies offer different packages, so make sure you analyze your options and choose the one most fit for your needs.  Illinois agents have rated and reviewed the best real estate schools here on AgentAdvice.com, in order to make this easy for you.

As for the other costs, you can plan the following ones: 

• Exam fee of $58
• License application fee of $125

There will surely be other expenses as well, so when you’re planning the overall cost of your real estate license, make sure you plan for membership fees, operating expenses, and other potential costs that may arise. 

In total, it costs around $1,000 to become a real estate agent in Illinois.

How long does it take to get your real estate license in Illinois?

The time it takes to become a real estate agent in Illinois depends on the individual. It usually takes people 2 to 6 months to complete everything. If you finish the licensing coursework faster and manage to pass everything on the first try, it will take about two months. However, if you take the course at a slower pace, and fail the exam one or multiple times, it will take longer for you to be licensed as a real estate agent.  That said, if you’re in a hurry, you should probably go with a self-paced class rather than an in-person course that is bound to a specific deadline.

Remember that you have two years to register to take the real estate licensing exam once you pass the real estate licensing exam. 

One of the major advantages Illinois offers that other states don’t is the ability to work under a managing broker for 45 days while your license is being processed. This way, you won’t lose any time building your real estate career and will be able to work as soon as you pass the exam. 

What’s the real estate agent salary in Illinois?

An Illinois realtor makes $44,840 per year on average. This breaks down to $33.24 per hour. 

Here’s an idea of what Illinois agents can make in some of the state’s highest paying cities:

• Chicago: $106,447
• Peoria: $93,801
• Orland Park: $88,547
• Northbrook: $99,974
• Rockford: $92,198
• Dolton: $87,237
• Naperville: $96,948
• Tinley Park: $88,646
• Homer Glen: $86,027

How Much Do Homes Cost in Illinois?

Illinois homes cost $265,377 on average. Prices have gone up 9.3% over the past year. Here is a breakdown according to city. 

• Naperville: $500,465
• Deerfield: $547,111
• Northbrook: $632,755
• Wayne: $678,497
• Glencoe: $1,387,215
• Chicago: $339,900
• Springfield: $156,796
• Peoria: $120,000
• Champagne: $198,000
• Rockford: $135,474

What are Commission Splits Like in Illinois? 

Like most states, commission splits in Illinois are between 5-6%. The average split is 5.24% per sale. 

Here’s what you can expect as far as commission splits in the state. 

• Keller Williams: 70/30
• Coldwell Banker: With different offices asking for different commissions, agents can expect either a 55/45 split or a 60/40 split.
• eXp Realty: 80/20
• Compass: 80/20
• JLL: 50/50