Illinois Real Estate License

Definition - What does Illinois Real Estate License mean?

The Illinois Department of Financial and Professional Regulation (IDFPR) manages the issuing of real estate licenses to individuals within the state of Illinois. The license is issued at the three levels of Leasing Agent, Broker, and Managing Broker.

Individuals who wish to attain an Illinois Real Estate License may choose any one of several different paths. All candidates must be at least 18 years or older, though requirements are less strict at the ages of 21 and above. If a candidate is between 18 and 21, they must also complete 4 semesters of full-time post-secondary school related to real estate. A 90-hour IDFPR approved course is required for any candidate not already practicing law in Illinois. Reaching the Managing Broker level incurs significantly greater requirements including holding an Illinois real estate license for at least 2 years and additional education. Reciprocity agreements with other states may also allow previous real estate agents to bypass some of the requirements.

AMP administers the exam. A fee of $46 is due at the time of registration for the exam. A national portion and a state portion make up the examination. The national portion consists of 100 questions with a possibility of an additional 5 pretest non-scored questions. The state portion includes 40 mutiple-choice questions. Within the exam, both sections are intermingled and unmarked. Applicants must complete the exam in 3.5 hours.

Testopedia explains Illinois Real Estate License

The exam covers national and Illinois specific laws and rules including the following topics:
  • Agency Relationships and Contracts - 28 questions
  • Real Property Ownership/Interest - 14 questions
  • Finance - 15 questions
  • Real Property - 14 questions
  • Marketing Regulations - 8 questions
  • Property Management - 8 questions
  • Real Estate Calculations - 13 questions
  • Illinois Licensing Regulations - 10 questions
  • Illinois Laws and Rules Regulating Real Estate - 20 questions
  • Disclosures - 10 questions

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