The average yearly salary for a real estate agent in Illinois is just over $47,000. For a career that does not require an advanced degree, it presents a great opportunity for those looking to do something different than the traditional 4-year college experience, but still, want to obtain a lucrative career with plenty of growth potential. What’s even better is that Illinois real estate agents can obtain their licensure with 90 required education hours, 75 of which can be completed online and from the comfort of your own home.
For today’s professionals looking for a different career path, or the ambitious young person who wants to get a jump start on their career, this is a big benefit of convenience.
You won’t lose time from your current job or children, and you can begin your professional life fast, particularly when taking advantage of the online option.
Best Online Real Estate Schools For 2022
The state of Illinois no longer issues or recognizes salesperson real estate licenses, and instead one must obtain a broker’s license which does require a bit more education hours when compared to other states that do issue real estate salesperson licenses.
There are some Illinois real estate license requirements one must pay close attention to if they wish to become a real estate agent in the state of Illinois, and these requirements include:
- Must be 21 years of age – In order to obtain a real estate broker’s license in the state of Illinois, one must first be at least 21 years of age and have a high school diploma or GED equivalent.
- Register for approved education – In the state of Illinois, one may complete 75 of the 90 required education hours with online self-study, but the final 15 hours must be done with live instruction. This gives great benefit to adults looking to change their career path as the vast majority of the education may be completed on your own time and from the comfort of your own home. RealEstateExpress.com provides an approved course that includes all 75 hours of course training encompassing topics ranging from agency laws all the way to listing distressed properties. Once your 75 education hours are complete, you may then look into obtaining the final 15 hours of in-person education to prepare you for your broker’s exam.
- Pass the exam – After your 90 hours of education, it’s then time to complete the licensure exam. This is done in person at various locations throughout the state of Illinois and comes at a cost of $46 per attempt. The RealEstateExpress.com course can also include exam prep courses including 17 practice exams to give you a better shot of paying once, testing once, and being ready to pass your exam on your first try. The exam is comprised of 100 questions, and one must achieve a score of 75% or higher to have what is considered a passing grade.
- Apply for sponsorship and licensure – Once you’ve passed your exam, you will then find a current Illinois real estate broker to sponsor your application, and once you have, you’ll be ready to apply with the Department of Financial and Professional Regulation. The licensure application does come with a fee of $125 in order to apply for your initial real estate broker’s license.
- Continued education – Completing 30 hours of post-licensure training after your license has been obtained, and continuing your education before your license renewal every 2 years is required in the state of Illinois. Luckily, online training programs have made continued education simple for Illinois real estate brokers, and programs like those at Mbition allow professional Illinois real estate brokers the opportunity to continue their education at home and on their own time. Periodically checking the Department of Financial and Professional Regulation, where you’ve applied for your license, to make sure no changes have been made to continuing education requirements is always a good idea to ensure your license remains in good standing.
Keeping Track Of Illinois Real Estate License Requirements
As in most states, the Illinois real estate license requirements are subject to change as time goes on. It has only been in recent years that the state of Illinois has required 90 educational hours and a real estate broker’s license over a salesperson’s license, and this could change again in a handful of years from now. Keeping tabs on the changing requirements for a real estate broker’s license in Illinois, as well as your own continued education requirements, gives you peace of mind that you’re always in good standing and projecting forward in your professional real estate broker career. With online education courses for pre-licensure or post-licensure education, these courses will evolve and adapt to suit the current standards of Illinois real estate license requirements, so today’s professional Illinois real estate brokers always have a simple and convenient option when it comes to their quality education.
What If I Am Under 21 Years Of Age?
Unfortunately, Illinois real estate license requirements state that one must be 21 years of age to obtain a real estate broker’s license within the state, but this doesn’t mean that those under 21 can’t get their feet wet in the field. Becoming a leasing agent is an option for those who are 18 years of age or older who would like to see if becoming a real estate broker is potentially for you. Leasing agents help Illinois residents to find and lease apartments, rather than buying and selling real estate, and this path only requires 15 educational hours as well as an exam. Like real estate broker’s exams, leasing agent exams also cost $46 per attempt and are given in the same locations.
A leasing agent’s license is a great option for young people interested in becoming real estate brokers in the future, but who wish to get acclimated in their career before turning 21. In the state of Illinois, a leasing agent can expect to earn around $34,000 per year on average and gives them beneficial experience for becoming a real estate broker in the near future.