Illinois Real Estate License

A realtor’s profession is very demanding nowadays. Yet, to practice legally in IL you need to acquire your Illinois real estate license.

This article will provide you with necessary information on how to get it.

Real Estate Agents’ Education

In the beginning, you must finish licensing education by going through two main courses:

• Pre-license topics
• Applied real estate regulations

In this way, you’ll get ready for the test. This is important when you apply for licensing. However, now it is fully realistic to participate in the lessons online. Here we compiled mainly offered packages.

Courses only

This, in short, includes only required pre-licensing activities. One is 60-hour pre-license topics. And the other one is 15-hour applied principles.

Standard

The package provides pre-licensing and Prep Edge. Except for basic knowledge, this consists of practical tasks for the exam. They give more confidence and increase chances to succeed.

Value

Classes last 84 hours, 75 of which are mandatory and 9 are elective. The advantage is that it offers extra training about business building.

Premium

It contains 45-hour post-licensing coaching and Prep Edge. You can study business building as well. This is designed for certificate holders. They touch on:

• Renewal process
• What to do after getting the real estate license
• How to launch your career

Yet, in the questionnaire, you might encounter questions that pre-licensing activities don’t cover. So, we recommend choosing curriculums that highlight prep edge too.

Examination

It is logical, that you shall ask: “How long does it take to achieve my permit?” Compared to California real estate license, the process is much faster here Actually, it lasts 4-6 weeks to complete your education. Then, you have at most 2 years to take the exam for the first time. But it would be better to apply in the short run. If you fail your first attempt, you can still retry. You are able to pass the test three more times during the limited 2-year period.

Is the test hard?

It contains 150 multiple-choice questions (105 national and 45 state). They give you 3 and half hours to solve them. The required minimum score is 75%. Of course, there are some difficulties with the test. However, it becomes a simple quiz for you if you “digest” the whole material of lectures. Fortunately, you don’t have to wait for the results long. You receive the results immediately after completion.

The exams are organized at locations nearby Chicago, six days per week. For participation, schedule the date with the PSI platform and pay a fee of $55. And what about the application fee, it costs $125.

Requirements

Before the final quiz, make sure that you meet the following requirements:

• Being at least 18 y/o
• HS diploma or equivalent
• Good moral character
• Valid SS number

Renewal

According to the current rules, you must reissue your permit every 2 years. The deadline is April 30. So, you should accomplish that through the Illinois Department of Financial and Professional Regulation (IDFPR). Likewise, you are to end 12-hour continuing education, which contains:

• 4-hour core (basic knowledge)
• 8-hour elective lessons, that include sexual harassment prevention training

Agents have to complete the entire demands of CE before requesting. Moreover, they need to have post-licensing preparation if they refresh for the first time. It is not obligatory for active advocates to take CE training.

Reciprocity

This means that you may transfer your certificate obtained in one state to another state. It depends on the qualification requirements between regions. Thus, IL reciprocity functions with:

• Georgia
• Nebraska
• Connecticut
• Iowa
• Wisconsin
• Florida
• Colorado
• Indiana

The below-mentioned steps will guide you on how to transfer your permit.

1. You should have passed your final examination in the region where you are requesting.
2. You are to pass the Illinois portion of the licensure quiz.
3. Managing brokers can apply on their own. In other cases, you must have a sponsor. The latter should have a managing or broker valid document.
4. Managing realtor applicants’ licenses need to have been active for two years.
5. In case you don’t have these qualifications, you have to do the national exam.

You may find more detailed information by visiting IDFPR official website.