REAL ESTATE LICENSING REQUIREMENTS

General

All states require persons engaged in the real estate business to have a real estate license.  The purpose of license law legislation is to protect the public.  Although license law varies from state to state, the most important provisions are similar regarding real estate licensing.

Illinois Real Estate Licensing Requirements

The Illinois Real License Act requires individuals who assist others in the sale, leasing, management, or exchange of real estate to hold an Illinois real estate salesperson or broker license.

A salesperson is any person who for compensation or valuable consideration is employed either directly or indirectly by a licensed real estate broker to perform certain acts: to sell, offer to sell, buy, offer to buy, negotiate the purchase, sale exchange of real estate; or to negotiate leases thereof or improvements thereon. A real estate salesperson must work under the direction and sponsorship of a real estate broker at all times.

A broker is one who acts as an intermediary between parties to a transaction. A real estate broker is a properly licensed party (individual, corporation or partnership) who, for a valuable consideration or promise of consideration, serves as a special agent to others to facilitate the sale or lease of real property.  A real estate broker has the choice of working on their own or working under the sponsorship of another broker.

Each applicant shall be at least 21 years of age, be of good moral character, have a high school education or GED and successfully complete state required education.

The minimum age of 21 years shall be waived for any applicant for a salesperson's license who has attained the age of 18 and can provide evidence of at least 4 semesters of post-secondary study with a major emphasis on real estate courses in a school approved by the Illinois Department of Financial and Professional Regulation.

Applicants for a salesperson license shall complete an approved course of at least 45 hours.

Broker applicants shall complete 120 hours of approved course work, 45 hours of which shall be the 45 hours required to obtain a salesperson's license, 15 hours of brokerage administration, 15 hours of contracts and conveyances, 15 hours of advanced principles and two 15 hour approved elective courses.

Illinois applicants with a valid sales license are required to complete an additional 75 hours of approved course work.

Illinois applicants who are currently admitted to practice law by the Illinois Supreme Court and currently in active standing are exempt from the educational requirements.

An applicant for an Illinois real estate license meeting the above requirements has 3 options with regard to education.

1. He may complete the 45-hour course and obtain a salesperson's license.
2. He may immediately complete an additional 75 hours while working as a salesperson and test for a broker's license when complete.
3. He may complete 120 hours of education and obtain a broker's license when complete.

Complete Illinois Real Estate Licensing information may be found at  the Division of Real Estate. 

Copyright, the Illinois Academy of Real Estate, 2007