Real Estate Division-Illinois real estate school and classes

In Illinois, the practice of real estate is regulated under the provisions the Illinois Real Estate License Act of 2000.

Under the Illinois Department of Financial and Professional Regulation, the Real Estate Division of the Bureau of Real Estate Professions is responsible for administering the Act.

Answers to real estate licensing questions and operating an Illinois brokerage may be found at the web site of Division of Real Estate. Click on real estate frequently asked questions.

Illinois Real Estate Licensees - Did You Know?

According to the Illinois Division of Real Estate common complaints and violations of the Illinois Real Estate License Act include:

1. Escrow - explanation of the legalities involved in the return of earnest money. Requires the consent of all parties.

2. Inoperative/non-renewed licenses - brokers, check the licenses on your wall.

3. Dual Agency - explanation and prior consent. Make sure that you explain what it is and that you have prior consent, especially in buyer agency agreements.

4. Misrepresentation - in product, for example zoning and in advertising. Verify all factual information, don't guess. When using statistics in advertising, be sure that the supporting statistics prove what is being advertised.

5. Disclosure - agent's interest and material fact. When in doubt, disclose. A question to ask would be, "If I were in the client/customer's position, what would I feel entitled to know?"

The Illinois Real Estate License Act requires that a change of address (PDF) be made in writing. The notification may be mailed or faxed to the Illinois Department of Financial and Professional Regulation.

Continuing Education Lookup for Illinois Licensees. Track your own continuing education records. Find the courses you have completed for the current period here. Also includes a history of your completed continuing education courses.

Reciprocity expanded to additional states

Wisconsin and Indiana are the latest states to sign reciprocity agreements with Illinois. Reciprocity permits non-resident salespersons and brokers the right to do business in other states if they meet certain requirements. To obtain reciprocity, a licensee must pass the state portion of the licensing exam in a state, pay a licensing fee and apply to the state to have the license issued. No pre-license education is required. We have a study package available to help you prepare for the Illinois portion of the exam.