How do you become a broker in Chicago?

How do you become a broker in Chicago?

In order to become a licensed real estate broker in Illinois, you must:

1. Be at least 18 years old.
2. Have a high school diploma or equivalent degree.
3. Complete pre-licensing coursework, including 15 hours of “applied” interactive training through a webinar or in-person.
4. Pass the state of Illinois exam.

How do you get a broker’s license in Illinois?

5 Steps Toward Getting Your Illinois Broker License

1. Complete 75 hours of approved Pre-Licensing education.
2. Pass the course final exam.
3. Pass the Illinois Real Estate Broker Examination.
4. Select a sponsoring broker.
5. Complete the application.

Can I become a real estate broker without being an agent in Illinois?

Unlike many states, Illinois does not offer a real estate agent or salesperson license, and instead uses the term “broker” to refer to any professional who represents a consumer in a real estate transaction.

Which of the following is a licensing requirement for an Illinois brokers license?

To qualify for an Illinois Real Estate Broker License in the State of Illinois you must be at least 18 years old, have a Social Security Number of Individual Taxpayer Identification Number, have a high school diploma or equivalent (G.E.D.), successfully complete the required coursework, and pass the real estate …

How long does it take to become a real estate broker in Illinois?

between three and six months
It takes most people between three and six months to become a broker in Illinois. You can apply for a real estate license after completing your 75 hours of prelicense education and after you pass both the state and national portions of the Illinois licensing exam with a grade of 75% or higher.

How long does it take to get a brokers license in Illinois?

Do I need a sponsoring broker in Illinois?

Illinois Real Estate Education The State of Illinois requires an entry level broker to complete 75 hours of education. After passing the state exam you will need to affiliate with (become sponsored by) a real estate sponsoring broker.

How many questions are on the Illinois broker exam?

You’ll have 3 ½ hours to complete the test, and a score of 75% is considered passing (results are provided immediately upon completion). The Illinois Real Estate Exam contains 140 multiple-choice questions. 100 of these questions are national questions and 40 are state questions.

How do I get my Illinois real estate broker license?

Lastly, you will need to apply for your Illinois Real Estate Broker License with the Illinois Department of Financial & Professional Regulation. The fee for this application is $125. You’ll need to create a log-in profile with the Illinois Department of Financial & Professional Regulation to submit your application.

What license do I need to sell commercial real estate in Illinois?

To sell commercial real estate in Illinois, a standard Broker license is all that you need. There is no specific “commercial real estate license”. If you wish to take on a career selling specifically commercial real estate, choose a broker that handles the types of deals that you want to be a part of.

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

Real Estate License Application Lastly, you will need to apply for your Illinois Real Estate Broker License with the Illinois Department of Financial & Professional Regulation. The fee for this application is $125.

How long does it take to become a real estate broker?

To start, you must successfully complete 75 hours of approved pre-licensing courses. This consists of 60 hours of Real Estate Broker Topics and 15 hours of Broker Pre-License Applied Real Estate Principles – Interactive. Most people choose to take their pre-license education course online.