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The State of Illinois now has three real estate license classes: leasing agent, broker and managing broker.
Leasing Agent
The leasing agent license is a limited scope license required for individuals who wish to engage only in the leasing of residential properties. The leasing agent must be employed by a property management firm and work under the direct supervision of a licensed managing broker.
The leasing agent must successfully complete a 15 hour pre-license course, pass a state exam and associate with a licensed property management firm. Complete details may be found in Section 5-10 of the Illinois Real Estate License Act.
Real Estate Broker
The Real Estate Broker License has replaced the Illinois Real Estate Salesperson's License. The real estate broker must now be employed by a sponsoring broker and work under the direct supervision of a managing broker.
The real estate broker must successfully complete 90 hours of pre-license education. The 90 hours consists of 2 individual courses, a 75 hour broker pre-license topics course and a 15 hour Applied Real Estate Principles classroom/interactive course.
In addition, the real estate broker must complete 30 hours of post license education prior to first renewal of license. The 30 hours consists of 2 individual courses, a 15 hour Topics Course and a 15 hour Applied Real Estate Principles classroom/interactive course.
Complete details may be found in Section 5-27 of the Illinois Real Estate License Act.
Managing Broker
The Illinois Real Estate Managing Broker License is required for any licensee that wishes to manage a real estate firm or to be a self sponsored broker.
An applicant for this license must be a licensed agent for 2 out of the 3 past years and complete 45 hours of pre-license education. The 45 hours consists of 2 individual courses, a 30 hour Topics Course and a 15 hour Applied Real Estate Principles classroom/interactive course.
Complete details may be found in Section 5-28 of the Illinois Real Estate License Act.
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