Managing Broker License

How do I get my real estate license?

All new licensees who require managerial privileges are required to earn a Managing Broker license. To qualify for an Illinois Real Estate Managing Broker's license in the State of Illinois you must be at least 21 years old, have an active valid Illinois real estate broker license, had an active real estate license for two (2) of the past three (3) years, successfully complete the required coursework and pass the state licensing exam. This new category of license for brokers who will manage and sponsor themselves and/or other licensees changed from Broker to Managing Broker.

Complete the Required 165 Hours of Pre-License Education

The Managing Broker license is only available to applicants who held a real estate salesperson or broker license for two out of the last three years. If you have a broker license and meet the two out of three year requirement, it is assumed you have completed the 120 Broker pre-license requirement and you will only be required to take an additional 45 hours to include a 30-hour course, Managing Broker Pre-license Topics and a 15-hour Managing Broker Pre-license Applied Management and Supervision Interactive course.

Applicants who have never held a license will first have to complete the 90 hour Broker license requirement and the 30 hours of post license education and follow with the 45-hour Managing Broker requirement. You would not be able to apply for your Managing Broker license until you have met the two out of three year requirement.

The Illinois Association of REALTORS® Licensing and Training Center makes it easy with many choices for state-approved home study, classroom, online courses:

[1]

Classroom Education Course Schedule [2] - Find a class at a location near you. IAR has more than 60 Branch locations around the state.
Online courses are offered by IAR's two online learning vendors, RECampus [3]or Hondros Learning. [4]
Home Study - The 30 Hour Managing Broker Pre-License Home Study Course (Item #637) [5] combined with the 15-Hour Broker Pre-license Applied Real Estate Principles Interactive classroom course [2] will meet the requirements to be eligible to take the state exam to obtain a Managing Broker license in the State of Illinois.

Take the Course Exam

The State of Illinois requires a proctored exam for each course. Students may take the proctored exams at the approved proctor location of their choice. After completing the course, the student should contact IAR at 217-529-2600 to have the exam sent to their preferred proctor location. Proctor locations (pdf) [6]

State Licensure Exam

The state licensure exam is administered by Applied Measurement Professionals (AMP) www.goamp.com [7]. Once your completion dates are entered you may register for your state exam. (Click on "Candidates" and then select the real estate examination you are prepared to complete.) You must first be registered as a student before you can take the state exam. To register with AMP, go to the VIP Portal tab and select "student user." From there you will be able to register as a new student and obtain your AMP student ID number. When you have completed your course, IAR will enter your completion date enabling you to register for the state exam.

Apply for Your License

Apply for your license and pay the appropriate fee for the license to the Illinois Department of Financial and Professional Regulation [8].

Become a REALTOR®

REALTOR pin Not all real estate brokers are REALTORS®. The Code of Ethics of the National Association of REALTORS® [9] is universally recognized as the measure of professionalism in real estate. Membership in the REALTOR® organization is part of a three-way agreement with the local REALTOR® Associations, the Illinois Association of REALTORS® and the National Association of REALTORS®. The REALTOR® symbol is your key to the wealth of resources, products and services available to you as a member of the REALTOR® organization. Membership begins at the local level. To find out how you can join, contact your local association of REALTORS®. [10]

Link here to see your IAR member benefits [11]

Continuing Education

Managing Broker licensees must successfully complete 18 hours of CE (9 core & 9 elective)
on or before 4/30/13. The 18 hours should include one (1) Core A and two (2) Core Bs.

To renew by April 30, 2013:

If you transitioned by passing the proficiency exam you will need to have 18 hours of regular CE and the 12-hour Broker Management CE course completed to renew in 2013. At least 9 hours core and a maximum of 9 hours elective will be due.
If you took and passed the 45-hour transition course and course exam, only the 18 hours of regular CE will be needed to renew in 2013. No 12-hour Broker Management CE Course is required if you took the 45-hour transition course and passed the exam.
Complete and file the renewal application with the $200 renewal fee by April 30, 2013.

Note: Regular and Elective CE taken after May 1, 2010 will count towards the managing broker license renewal ending April 30, 2013.

Classroom, home study, online CE options [12]
Illinois Department of Financial and Professional Regulation's (IDFPR) CE Look Up [13]
Use the IAR Education Lookup to check your CE status for IAR-sponsored education courses. [14] Only IAR-sponsored courses will appear.

Broker Management Course

Managing Broker licensees also most successfully complete the 12-hour Broker Management classroom/interactive course on or before 4/30/13. NOTE: This is required for Managing Brokers who took the Proficiency Exam option only; if you took the 45-Hour Transition Course and Exam, you are exempt from the 12-Hour Broker Management course requirement.