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The Illinois Department of Financial and Professional Regulation offers an online real estate license course that anyone can take to learn more about the industry. .
The “illinois real estate license requirements 2021” is a requirement for Illinois residents to get their real estate license. It is important to know the requirements before you apply for your license.
Getting an Illinois real estate license is a little different from other states. For one, all agents representing buyers and sellers are known as brokers, not agents, even if they don’t manage a team. The state also requires that 15 hours of its 90 required prelicensing hours be spent in interactive and practice-related courses via live webinar or in-classroom approved by the Illinois Department of Financial & Professional Regulation (IDFPR) instead of allowing aspiring professionals complete 100% of coursework at their own pace.
This tutorial will walk you through these distinctions, as well as the schooling, background check, and test requirements for obtaining a real estate license in the state of Nebraska. Let’s get started:
1. Obtain your Illinois real estate license by meeting the legal requirements.
You must be 21 years old or older, have a high school diploma or GED, and have a Social Security number or individual taxpayer identification number in order to apply for an Illinois real estate license. If you’re between the ages of 18 and 21, you’ll need to show that you’ve completed at least four semesters of post-secondary study with a real estate focus.
What if I told you that
Colorado, Connecticut, Florida, Georgia, Indiana, Iowa, Nebraska, South Dakota, and Wisconsin all have reciprocity with Illinois. This implies that a real estate agent who passes the Illinois state test may acquire their Illinois license with no further education. However, since Illinois is a physical location state, out-of-state agents who wish to conduct Illinois real estate business must do it remotely and are not permitted to enter the state for real estate transaction purposes.
Read our real estate license reciprocity and portability guide to discover more about the eight states that have reciprocity with Illinois.
2. Complete all pre-licensing courses that are required.
You’ll need to take in-person programs or enroll in an authorized online Illinois real estate school to satisfy the prelicensing hours necessary for your Illinois real estate license. The whole 90 hours of needed education will cost between $385 and $699, and will comprise both 75 hours of broker training and 15 hours of practical, interactive courses.
The 75-hour broker licensure course includes the following topics:
- The law and real estate
- Real estate brokerage and agency
- Real estate interests
- Ownership of real estate comes in a variety of shapes and sizes.
- Descriptions of the law
- Taxes and other liens on real estate
- Contracts for real estate
- Title transfer and recording
- Illinois legislation on real estate licenses
- Principles and practices of real estate finance
- Property management and leases
- Appraisal of property
- Property development and land use regulations
- Ethical practices and fair housing
- The real estate transaction and environmental challenges
- Bringing the real estate deal to a close
The 15 hours of practice-related courses consist of the following:
- Presentation of a listing
- Disclosure and deception
- Discrimination and fair housing
- Administrative and personal assistant services
- Working with specialists outside of the brokerage on distressed properties
- presenting counter-offers and offers
- Exercising and doing case studies
What if I told you that
Any active member of the Illinois Bar who is in good standing and qualifies under the real estate license statute is excused from completing the real estate prerequisite courses, while passing the test is still required to earn a real estate license.
Review our finest online real estate education providers and enroll in the school that best meets your requirements to get the ideal prelicensing education program for you. Before enrolling for an exam date, the CE Shop is a wonderful way to learn test content.
The CE Store may be found here.
3. Get Fingerprints & Pass Background Check
You must complete fingerprints before taking your state licensure exam so that the IDFPR may conduct a background check and the testing facility can validate biometric verification of your identification. It takes about 24 to 48 hours for your fingerprints to be reported to the IDFPR, so make sure to schedule your appointment through Accurate Biometrics at one of the fingerprinting vendor locations at least two days prior to the exam. Fingerprinting usually costs roughly $15 and may be paid for using a credit card, money order, cashier’s check, corporate or agency check, or pre-approved billing terms.
Remember to bring two kinds of paper identification, as well as your Fingerprint Form, to your fingerprinting appointment. Visit the Accurate Biometrics FAQs page for more information.
Depending on the kind and extent of the crime, you may be able to receive an Illinois real estate license even if you have a criminal record. There are no convictions that would automatically stop you from obtaining a license, but you must mention the conviction on your application. Your application will be reviewed by the IDFPR, but 95 percent of applicants who have correctly revealed their offense have been granted a real estate license. Visit the IDFPR website’s FAQs page for further information.
4. Take the real estate exam in Illinois.
It’s time to take your test after you’ve finished these criteria. You will get your results instantly after taking the exam, along with diagnostic score information and reapplication instructions, since the test is done on a computer. It’s worth mentioning that the Illinois test has a lower pass rate than other states, at 45 percent. You will have up to three opportunities to repeat your test without penalty if you do not pass it the first time.
Because there is a state and a national component, if you pass one but not the other, you will simply have to repeat the remaining section, which you may do within one year of the passing portion date. After your fourth unsuccessful attempt, you must repeat the 90 hours of education before taking the test again.
Details about the Illinois Real Estate Exam
Make Your Exam Appointment
PSI/AMP, which is a nationwide supplier of state licensure tests, will handle all exam scheduling. You must first register as a student on the PSI/AMP website via the Student Portal in order to authenticate your course completion information from the institution where you got your prelicensing education before scheduling your test. You may register for your test after receiving your eligibility confirmation email.
This process requires you to submit a registration form, fingerprint record, and exam fee of $55 by credit card or by cashier’s check or money order made payable to PSI Services. As mentioned above, fingerprints must be obtained through a state-approved vendor. After you complete your registration, you’ll be able to Make Your Exam Appointment at a testing center convenient for you. Keep in mind that you can’t sign up to take the test less than two days before the exam date. Once registered, you will receive the Illinois PSI Candidate Handbook, which has a copy of the examination registration form within it.
Even though the passing rate is low, if you study hard and prepare properly, you should be able to pass the exam. We suggest Real Estate Exam Scholars for a full exam prep course if you need assistance preparing for the examination. They provide excellent test preparation at a reasonable cost. Even better, if you don’t pass the first time, they will refund your money.
Real Estate Exam Scholars is a great place to start.
5. Decide the company you want to work for.
You must locate a sponsoring brokerage to affiliate your Illinois real estate license in order to keep it valid. Check out our in-depth guide on choose the appropriate real estate business to work with to make your decision a little simpler. Despite the fact that there are many profitable brokerages in the Prairie State, the top five brokerages reported for 2021* are shown below.
*Real Trends 2021 data.
Cities in Illinois with the Highest Median Sales Price in 2021
You should expect greater commissions when property values rise. Check out the sales statistics from Towncharts.com below to get a feel of which communities in Illinois are bringing in the big bucks:
6. Submit an application for an Illinois real estate license.
After passing the test, you may use the IDFPR online portal to register and complete your application, which you must send together with your managing broker sponsor card and $125. You may practice without a license for 45 days after submitting these papers under the supervision of your managing broker while your application is being reviewed. Because the state of Illinois no longer issues paper licenses, you will be informed through email after your application has been accepted.
7. Get Your Real Estate Career Started
You’re ready to begin your real estate career now that you’ve completed all of the procedures to become a real estate agent in Illinois. Here are some of our articles with material that is ideal for new real estate agents if you want to learn more:
The “Illinois real estate license application” is the process to become a licensed real estate agent in Illinois. It requires education, experience, and passing a state exam. Reference: illinois real estate license application.
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