5 Steps Toward Getting Your Illinois Managing Broker License
Getting an upgraded license might seem a bit daunting, but we’re here to guide you through the process. Read on to learn the five steps you’ll need to take before upgrading your real estate license in Illinois.
Confirm you are eligible to become a managing broker.
To qualify, one must be at least 21 years of age and hold a high school diploma or equivalent. Additionally, candidates must have an active and valid real estate broker license and be licensed as a broker for two of the past three years.
Complete the 45-Hr. Illinois pre-licensing managing broker coursework.
Managing broker candidates must successfully complete 45 hours of pre-licensing courses from an approved Illinois Department of Financial and Professional Regulation (IDFPR) real estate education provider (like The CE Shop). The coursework includes 30 hours of Managing Broker Pre-Licensing Topics and a 15-hour interactive course in Managing Broker Pre-License Applied Management and Supervision. For the 15-hour interactive course, you will be provided a link to sign up for a live webinar session spanning three to four days. It is recommended that you not complete the 15-hour interactive course until you are approximately 90% through the 30-hour course.
The CE Shop offers unique courses specifically designed to help real estate professionals like you succeed. Our courses use real scenarios and practical exams to not only ensure that you’re prepared for your exam but also lay a proper foundation that you’ll need in your new career as a managing broker.
Complete the course final exams.
After you complete all the course materials, meet the minimum time requirement, and pass the practice exam, there is a final exam for each course. The passing score for this exam must be at least a 70%. There is a $25 fee per exam.
Note: These costs are subject to be changed by the state at any time.
Schedule and take the state licensing exam.
Apply for your license.
Once you pass your Illinois real estate managing broker examination with PSI you will be provided directions in your passing score report on how to apply for your license. After you submit your licensing materials and pay the licensing fee, you will be on your way to becoming a managing broker.