The initial state licensing fee for the Broker license is $150.00. This license must be renewed by April 30th of even numbered years (every two years). The renewal fee is $200.00. Membership with the Realtor® organization is common at most residential offices and is approximately $1,200 to join (depending on what month of the year you become a member; they prorate the annual fee), then about $1,350 per year. Students have up to one year to become sponsored (hired) at an office and join the board after passing the state exam. Board membership allows access to the MLS (Multiple Listing Service). Most brokers also carry Errors and Omission insurance, which averages approximately $250-$300 per year. Please check with an accountant for advice regarding tax write offs and business expenses.

On average it costs approximately $1,800 per year for licensing fees, board membership dues and business insurance. A new agent should budget for these expenses annually.

A Broker License will allow you to represent buyers, sellers, landlords, and tenants. This license is required to be a property manager in Illinois.

Two courses must be completed prior to sitting for the State of Illinois Broker Licensing Exam. The first course is 60 hours and can be taken in a live or “home study” setting. The second portion, the 15 Hour course, can be taken live or online. A total of 75 Hours of Pre-Licensing education must be completed prior to sitting for the state exam.

A total of 45 Hours of Post-Licensing education must be taken AFTER a person receives his/her license prior to the first renewal period. Broker licenses renew on April 30th of each EVEN numbered year. The next renewal will be on 4/30/2024.

A Managing Broker’s License is required to sponsor yourself or another; a person must hold a Broker’s license for at least 2 years in order to obtain a Managing Broker’s License. A Broker’s License allows a person to be sponsored by a Managing Broker and will allow you to assist a person with buying, selling or leasing or managing a property.

A Sponsoring Broker holds a "Managing Broker" license and sponsors all licensees. Each office must have one Sponsoring Broker. However, an office may have more than one Managing Broker. A licensee must be sponsored in order to practice Real Estate in Illinois.

When you pass the state exam, you can begin working as a Real Estate Agent as soon as a Sponsoring Broker hires you. (Sometimes that same day!)

The state licensing exam has a total of 12 math calculation questions. These include addition, subtraction, multiplication and division. So many people hesitate to take the licensing exam because they are intimidated by "the math." At Net Real Estate School, we will provide you with a simple math formula to help you learn when you should divide, multiply, etc.. There is no algrebra, calculus, etc..

No, you do not need any prior sales experience to obtain a real estate license in Illinois.

The course is challenging, however, many students that have been out of school for years seem to really enjoy the course and usually have no problem understanding the material.

A Realtor® is a Broker that has joined the National Association of Realtors. Membership requires adhering to a strict code of ethics and includes access to the MLS (Multiple Listing Service).

The State exam is offered daily, Monday through Saturday at various Chicagoland locations. More information can be obtained by visiting goamp.com.

The State DOES NOT do a credit check for a real estate license.

Yes, most agents start working their real estate career part-time and they do very well in the business. Many end up phasing into working in the Real Estate field full time.

At Net Real Estate School your exam results are given immediately after you take your exam. The AMP testing center will also give you the results of your State exam immediately after you test.

We highly recommend the ExamSmart program which can be accessed for 90 days by visiting www.examsmart.com.

The Real Estate Broker license in Illinois will allow you to work with Sellers, Buyers, Landlords, Tenants along with Property Management. A career in Real Estate is exciting and rewarding. Most brokers work as independent contractors under the sponsorship of a real estate firm and they make their hours. This is a great way to be your own boss with a flexible schedule and unlimited earning potential.