How to Get a Real Estate License in Chicago? 3 Easy Steps

If you are interested in becoming a real estate agent in Chicago, you will need to meet the requirements set by the Illinois Department of Financial and Professional Regulation (IDFPR) and pass the state licensing exam.

become a real estate agent
Become a real estate agent | MBITION

In this article, we will guide you through the steps and provide you with some useful resources to help you achieve your goal.

Step 1: Complete the 75-Hour Pre-License Education

The first step to get a real estate license in Chicago is to complete the 75-hour pre-license education.

It consists of two courses: a 60-hour Broker Pre-License Topics course and a 15-hour Broker Pre-License Applied Real Estate Principles course.

You can choose to take these courses online or in a classroom setting, depending on your preference and availability.

There are many approved education providers in Chicago, such as the Chicago Real Estate School, the Chicago Real Estate Institute, and Colibri Real Estate.

You can compare their prices, schedules, and reviews to find the best option for you.

The cost of the pre-license education varies from $350 to $600, depending on the provider and the format.

Step 2: Pass the State Licensing Exam

After completing the pre-license education, you will need to pass the state licensing exam, administered by PSI Services LLC.

The exam consists of 140 multiple-choice questions, covering both national and state-specific topics.

You will have 3.5 hours to complete the exam and you will need to score at least 75% to pass.

The exam fee is $55 and you can schedule your exam online or by phone.

You can find more information about the exam content, locations, and policies on the IDFPR website or on the PSI website.

To prepare for the exam, you can use various study materials, such as textbooks, sample questions, videos, and online courses.

Some education providers also offer test prep courses or review sessions to help you refresh your knowledge and practice your skills.

Step 3: Apply for Your License

Once you pass the exam, you will need to apply for your license within one year of passing.

You will need to submit an online application through IDFPR’s eLicense portal and pay a $125 license fee.

Find a sponsoring broker who will supervise your activities and provide you with training and support.

Search for potential sponsors on IDFPR’s website or on various online platforms, such as Indeed or ZipRecruiter.

You should interview several brokers and compare their commission splits, fees, culture, reputation, and benefits before making your decision.

Congratulations! You are now a licensed real estate agent in Chicago!

As a new agent, you will need to complete a 45-hour post-license course within your first renewal cycle (two years).

AN image of development manager
Development realestate manager [PHOTO COURTESY OF POSTREDI]
You will also need to join a local Realtor association,  which will give you access to the Multiple Listing Service (MLS).

Follow the code of ethics and standards of practice of the National Association of Realtors.

Becoming a real estate agent in Chicago can be a rewarding career choice if you are passionate about helping people buy or sell properties.

How do I get started in real estate in Chicago?

Here is a summary of the main points:

  • Complete the 75-hour pre-license education from an approved provider.
  • Pass the state licensing exam administered by PSI Services LLC.
  • Apply for your license online through IDFPR’s eLicense portal and pay a $125 license fee.
  • Find a sponsoring broker who will supervise your activities and provide you with training and support.
  • Join a local Realtor association, such as the Chicago Association of Realtors, which will give you access to the Multiple Listing Service (MLS) and other resources.
  • Complete a 45-hour post-license course within your first renewal cycle (two years).
  • Follow the code of ethics and standards of practice of the National Association of Realtors and abide by the state laws and regulations governing real estate practice.

Conclusion

In conclusion, becoming a real estate agent in Chicago is a great career choice for anyone who loves helping people find their dream homes, has excellent communication and negotiation skills, and is ready to face the challenges and opportunities of the real estate market.

By following the three easy steps outlined in this article, you can get your license and start your journey as a professional real estate agent in Chicago.

You will need to complete the 75-hour pre-license education, pass the state licensing exam, and find a sponsoring broker who will mentor you and support you.

Leave a Comment