WHAT STEPS MUST I TAKE TO BECOME AN ILLINOIS BROKER?
Individuals seeking to obtain a real estate broker’s license are required to:
- Complete a total of 90 credit hours of pre-license education:
- A 75 credit-hour Broker pre-license course
- A 15 credit-hour Broker interactive pre-licensing course;
- Pass the Illinois Real Estate Licensing Examination;
- Find a Sponsoring Broker
- Apply to the State for your license;
- Complete a 30 credit-hour post-license course before their first license renewal
WHAT IS THE DIFFERENCE BETWEEN A BROKER LICENSE AND MANAGING BROKER LICENSE?
After holding a Broker’s license for at least two years, licensees may elect to complete additional education and apply for a Managing Broker’s license. Managing Brokers are permitted to perform all of the same activities as a Broker, but may also choose to sponsor their own licensees or those of other licensees (Leasing Agents, Brokers, and Managing Brokers).
WHAT IS THE DIFFERENCE BETWEEN A REAL ESTATE AGENT AND A BROKER?
“Real estate agent” is an antiquated term. A real estate broker is someone who has passed the state licensing exam and placed their license with a brokerage. With the right training, this person can help buy and sell real estate.
DO I NEED ANY PRIOR EXPERIENCE WITH REAL ESTATE, BUSINESS, OR FINANCE TO BE LICENSED AS A REAL ESTATE BROKER?
A real estate broker can come from any career background and many brokers find that their skills in other occupations help them in unique ways when they begin a career as a realtor. As long as you’re willing to put in the time and effort into your education and business, you can be successful.
AM I REQUIRED TO BECOME A BROKER WITH DREAM TOWN?
After you complete your course of study with Dream Town Academy and pass your exam, you are free to establish your business however and with whomever you choose—you are under no obligation to become a broker for Dream Town.
DOES DREAM TOWN ACADEMY OFFER ANY SUPPORT SERVICES OR CONTINUING EDUCATION FOR ITS REALTOR GRADUATES?
While post-licensing education for new brokers may be offered in the future, at this time, the Academy only provides resources for those who are seeking to prepare for a new career in real estate.