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Q. When do I Need an Illinois real estate license?
A. A person needs a real estate license if they provide assistance which is in any way intended to result in the sale or lease of real estate. The definition of the word "broker" under the The Illinois Real Estate License Act provides 11 examples of the types of "assistance" that requires a real estate license. Included are representing clients in the negotiation of real estate sales contracts or leases, and issuing advertising for the sale, purchase or lease of real estate.
The assistance must be provided for others. Accordingly, a person who buys sells or leases real estate as a "principal" does need a real estate license.
Compensation is required. Therefore, a person who provides assistance on a real estate transaction to a friend or relative, without compensation, does not need a license. Illinois Real estate license requirements.
Posted By Mike Fair, Director
Illinois Acadmy of Real Estate
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