Illinois Broker Exam Prep Edge IL Real Estate Exam FAQs

Every Question You Need Answered to Get Your Real Estate License in Illinois

We're here to help answer any questions you have about getting started in the real estate industry. Getting your real estate license in Illinois is a big step, so to help we've collected and answered some frequently asked questions below.

How long does it take to get an Illinois real estate broker license?

The average time it takes to complete your Illinois broker pre-licensing education is dependent on a few factors. Most students complete the licensing requirements in 3-4 months. Before you receive your license, you must complete a few necessary steps; these include your education application, passing the exam, a background investigation, and more.

What is the difference between a broker’s license and a managing broker’s license?

Unlike many states where licensees are classified as sales agents and salespersons, Illinois’s first available real estate license is a broker’s license, and the more advanced roles require a managing broker’s license.

Broker responsibilities:

Leading Buyers & Sellers
Prospecting Buyers & Sellers
Marketing and Showing Homes
Negotiating Sale Price
Leading Transactions
Renting Units

Managing broker responsibilities:

Managing and Recruiting New Brokers
Reviewing Contracts
Lead Distribution
Reviewing Contracts
Property Management
Vendor Relationships

Which states does Illinois have real estate license reciprocity?

Colorado, Connecticut, Florida, Georgia, Indiana, Iowa, Nebraska, Kentucky, South Dakota, Wisconsin.

How much does it cost to get an Illinois real estate broker license?

The fixed costs include:

$46.00 for the broker exam fee
$125.00 for the broker license application fee

The variable costs include:

Pre-licensing education tuition.

Note: These costs are subject to be changed by the state at any time.

Illinois Real Estate Educational Foundation (REEF) awards scholarships to students of real estate and related fields of study.

How do I get an Illinois real estate broker license?

To attain your real estate broker license in Illinois, the Illinois Department of Financial and Professional Regulation, Division of Real Estate, requires you to do the following:

Be at least 21 years old with a high school diploma or GED; or between 18 and 21 years of age with at least four semesters of post-secondary education in real estate as set forth by the Division of Real Estate
Complete all Pre-Licensing coursework (75 hours of pre-license education required)
Pass the Illinois real estate exam
Be sponsored by a managing broker

What are the post-licensing and continuing education requirements for brokers?

New broker licensees are required to complete 30 hours of post-licensing for their first renewal cycle. Additional questions about post-licensing can be answered here. After the first renewal cycle for a broker, brokers are required to complete 12 hours of continuing education.