How To Obtain an Illinois Real Estate License

In Illinois, exams, licensing, and continuing education for real estate agents are governed by the Illinois Department of Financial and Professional Regulation.  In order to obtain an Illinois real estate license,  an applicant must first pass a state exam and meet the procedures for real estate licensing outlined in the Real Estate License Act of 2000

Each applicant shall:

 Be at least 21 years of age, be of good moral character and have graduated from high school or obtained the equivalent of a high school degree.

The minimum age of 21 shall be waived for any person seeking a license as a real estate salesperson who has attained the age of 18 and can provide evidence of  successful completion of at least 4 semesters of post-secondary school study as a full time student or equivalent with major emphasis on real estate courses, at a school approved by the Illinois Department of Financial and Professional Regulation.

All applicants for a real estate salesperson license must meet the following educational requirements:

Successfully complete a 45-class-hour Real Estate Transactions course at a real estate school approved by the Illinois Department of Financial and Professional Regulation or;

Be admitted to practice law by the Illinois Supreme Court or;

Be a resident of another state that has a reciprocal agreement with Illinois and meets the requirements of reciprocity.  

All applicants for a real estate broker license must meet the following educational requirements:

Successfully complete at least 120 classroom hours, 45 of which shall be those hours required to obtain a salesperson license.  75 hours as approved by the Illinois Department of Professional and Financial Regulation as follows:

Mandatory Courses (45 hours)
Brokerage Administration (15 hours)
Contracts and Conveyances (15 hours)
Advanced Principles 2000 (15 hours)

Elective Courses (30 hours – any two listed below)
Real Estate Appraisal (15 hours)
Property Management (15 hours)
Financing (15 hours)
Sales and Brokerage (15 hours)
Farm Property Management (15 hours)
Real Property Insurance (15 hours)
Other approved electives (15 hours) Or;

Be admitted to practice law by the Illinois Supreme Court or;

Be a resident of another state that has a reciprocal agreement with Illinois and meets the requirements of reciprocity.

 Every person making application for an original license as a salesperson or broker must personally take and pass a written examination authorized by the Illinois Department of Professional and Financial Regulation.

Illinois Real Estate Broker CE Classes in Chicago South West Suburbs

The Illinois Academy of Real Estate will be offering Illinois Broker Management Continuing Education class sessions and home study testing sessions at the Hampton Inn and Suites, 20920 Matteson Ave., Matteson, IL.

The 6 hour required broker management class meets from 9:00 AM to 4:00 PM with test immediately following.  The course fee is $110.00 if you have the text from a previous broker management class and $125.00 if you don't. 

Course fee includes: REEF administrative fee, testing, Illinois Broker Management Supplement workbook, Course workbook and update on changes to the Illinois Real Estate License Act.

Classes will be conducted on Wednesday February 3, Saturday March 20, and Wednesday April 7.  Registration required 10 business days prior to class date.

We are also available to teach group classes at your location or place of business.  All materials provided.  Contact us for details.

We will also be conducting testing sessions for our 12 hour Continuing education home study package.  The sessions include testing and a License Act update and will meet from
9:00 AM to 12:00 PM on Tuesday, December 29, 2009; Saturday February 13, 2010; Wednesday March 10, 2010; and Saturday April 10, 2010.  Registration required 10 business days prior to class date. 

This is a similar program to the one conducted by our instructor, Ed Blass and will be instructed by Mike Fair a licensed broker for over 30 years and licensed instructor for over 15 years.

You may enroll in classroom only, classroom and home study or home study only, depending on how many hours you need to complete your CE requirements.  Don't know how many hours you need?  Have your license number ready and click hear to access the Illinois Department of Financial and Professional Regulation CE look up tool.

Class size limited!  Enroll Today!

If you have any questions, please contact us.  

New Real Estate License Act in Illinois

The rewrite of the Illinois Real Estate License Act of 2000 is presently awaiting the Governor's approval.  Significant changes include the change of salesperson licensing to broker and a new class of license, the managing broker.

These changes include an increase in required education and an experience requirement for new licensees and additional testing or course work for certain current licensees.  Testing and Course work will be offered by licensed Illinois Real Estate Schools.

The Act is scheduled to become effective December 31, 2009 and will phase in the changes.  Here is a summery of changes.

We will keep you posted as to any new developments.

Mike Fair, Director

Illinois Academy of Real Estate

Real Estate License Act - Top consumer complaints

5 Common Complaints filed with IDFPR
Broker Beware

Could this be You?  One of your Associates?

1.  Earnest Money and Escrow Accounts

2.  Dual Agency

3.  Non-renewal of License

4.  Misrepresentation by Licensees

5.  Unprofessional Conduct

These and others disciplinary actions may be reviewed at the web site of the Illinois Department of Financial and Professional Regulation. 

Any questions?   Contact us at the Illinois Academy of Real Estate
    

Illinois Real Estate Broker's Exam

In February of 2009, the Illinois Real Estate Broker exam changed format.  Prior to that date, the exam consisted of State specific questions and national questions presented in a multiple choice format.

The new exam consists of 45 state specific multiple choice questions.  40 are scored for the exam and 5 are pre-tested for use in future exams. 

The second partr of the exam, the national portion, consists of 10 simulation problems.  8 of the problems are scored and 2 are pre-tested for use in future exams.  What is a simulation problem.?

Each problem has 3 components:  a scenario, information gathering sections and Decision making sessions.  It is an entirely different type of testing and it is important to be familiar with the style of the exam before actually testing.  Complete details are available in the Illinois Candidate Hanbook for Real Estate Licensing.  At the present time, there are no math questions in the simulation exam.

There are 3 sample simulation problems  that you may review at GoAMP.com.  Please understand that they are only designed to give you an idea of what the exam looks like and the process used in answering questions and scoring the exam.  The questions are not Illinois specific and do not truly reflect the type of question that you might see.  AMP does sell an exam that can be a good learning tool, and the Illinois Academy of Real Estates offers a monthly exam prep session. 

The session includes text, practice and instructor support to help you pass the exam.  The fee for the 6 hour program is $99.00.  Any student completing their broker pre-license education with the Illinois Academy of Real Estate have the option of attending any scheduled session at no fee.