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Real Estate Broker
Total cost: $928
Some details on this page are not yet confirmed against an official source. See sources below or contact the licensing board to verify.
45 hrs
Pre-License Hours
2 yrs
Experience Required
Yes
Exam Required
12 hrs
CE Hours
$928
Total Fees
Permitted
Dual Agency
Broker Pre-License Education
Mostly verifiedPre-License Hours
45 hours
College Degree Required
No
Approved Providers
Illinois-approved real estate schools, colleges, and online providers
Additional Broker Courses
Additional broker-specific courses in management, supervision, and advanced real estate topics required beyond salesperson education
Course Topics
Real estate broker education requirements include pre-license coursework covering topics such as real estate law, brokerage management, contracts, finance, and ethics. Some states require a college degree in addition to pre-license hours, while others accept equivalent experience.
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Start with the salesperson license
Broker licensing in Illinois typically requires completing your salesperson (real estate agent) license first and practicing for 2 years before you can sit for the broker exam. The pre-licensing courses below are the recommended starting point on the path to a broker license.
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Agent Experience & Transaction History
Mostly verifiedAgent Experience Required
Prior real estate sales agent experience
2 yrs
Min Years as Agent
Most states require a period of active experience as a licensed real estate sales agent before qualifying for a broker license. Some states use a points-based system or require a minimum number of closed transactions as an alternative or additional requirement.
State Broker Exam
Mostly verifiedState Broker Exam Required
Real estate broker licensing examination
Multiple-choice; national and state-specific portions
Format
PSI
Provider
75%
Passing Score
$58
Exam Fee
Exam Sections
The real estate broker exam typically includes both a national portion covering general real estate principles and a state-specific portion covering local laws and regulations. Exams are usually administered by third-party providers such as PSI or Pearson VUE at authorized testing centers.
Overall licensing difficulty: 8/100
Study recommendation: 1–2 weeks of focused review is usually sufficient
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Broker Exam Prep Books
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Difficulty rating based on education, exam, and experience requirements. Individual experience may vary.
Real Estate Broker Exam
Passing Score
75%
Format
Multiple-choice; national and state-specific portions
Administered By
PSI
Key Topics Covered
Cost of failing
Retake fee: $58Invest in preparation to pass the first time.
How long should you study? Most candidates study 2–4 weeks before taking the Real Estate Broker Exam.
Study guides for the real estate broker licensing exam.
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Broker Practice Capabilities
VerifiedYes
Independent Practice
Yes
Supervise Agents
Yes
Operate Brokerage
Yes
Property Management
Yes
Escrow Handling
Yes
Dual Agency
Yes
Designated Agency
Restricted Activities
Real estate brokers have a broader scope of practice than sales agents, including the ability to operate their own brokerage, supervise agents, and handle escrow funds. Dual agency (representing both buyer and seller) and designated agency rules vary significantly by state.
| Fee | Amount |
|---|---|
Application Fee VERIFY against IDFPR current fee schedule. Per OpenExamPrep (2026), IL application fee is $150. Kept at $125 pending human verification. | $125 |
Exam Fee Paid to PSI | $58 |
License Fee | $300 |
E&O Insurance Errors and omissions insurance; varies by provider | $200 |
MLS Fees MLS membership varies by local association | $400 |
Renewal Fee | $300 |
Total Initial Fees Includes application, exam, license, E&O insurance, and MLS fees | $928 |
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Renewal & CE Requirements
Mostly verified2 years (biennial, Managing Broker license renewals occur in odd-numbered years; next deadline is April 30, 2027)
Renewal Period
12 hrs
CE Hours Required
30 hours post-license education
Post-License Education
Required CE Topics
Renewal Fee
$300
Regulatory Board
Broker licenses must be renewed on schedule with the state real estate commission. Continuing education typically covers topics such as ethics, fair housing, agency law, and state-specific legal updates. Some states also require post-license education within the first renewal period.
Out-of-State Reciprocity
VerifiedAccepts Out-of-State Credentials
Endorsement Available
Yes
ARELLO Certification
Accepted
Reciprocity Requirements
Real estate broker reciprocity agreements allow brokers licensed in one state to obtain a license in another state with reduced requirements. ARELLO (Association of Real Estate License Law Officials) certification may be accepted in some states. Requirements typically include passing the state-specific portion of the broker exam.
Moving to another state? Use our Transfer Tool to see what you need →
Compare Illinois with other states →
See how requirements, costs, and timelines differ across all 50 states.
Illinois has a UNIQUE 2-tier broker structure: Broker (entry tier, 75 hrs prelicense) and Managing Broker (upgrade tier, 45 additional hrs). There is no salesperson tier in Illinois. Managing Broker renewal cycle is odd-numbered years (next deadline 4/30/2027), while Broker entry tier renews in even-numbered years (next deadline 4/30/2026). Min age for Managing Broker is 20 (not 18). The 15-hour Applied Real Estate Principles course (entry tier) must be completed live (not self-paced).
Illinois requires 45 hours of Managing Broker upgrade-specific pre-license education (30-hr theory of real estate law including supervisory obligations + 15-hr simulation exam application). The 75-hour Broker (entry tier) pre-license course is a prerequisite captured via the experience requirement.
Experience: 2 of the past 3 years (rolling window) of active Illinois real estate broker licensure.
12 CE hours required per 2-year renewal cycle (matching renewal.ce_hours.value of 12). Per AceableAgent 2026 IDFPR update: 6-hr Core Course (includes 2 hrs Fair Housing) + 6 hrs Electives (must include Sexual Harassment Prevention Training). If 4-hr Core was completed before 6/30/2025, 8 electives required instead of 6.
Min age for Managing Broker is 20 (NOT 18) per Illinois School of Real Estate.
Managing Broker license renewals occur in ODD-numbered years (next deadline 4/30/2027). Broker entry tier renews in even-numbered years (next deadline 4/30/2026).
The 15-hour Applied Real Estate Principles course (entry-tier prerequisite) must be completed live (not self-paced).
Dual agency is permitted with proper disclosure in Illinois.
Post-license education required: 30 hours post-license education.
Real Estate Broker Schools in Illinois
Compare approved training programs, costs, and requirements.
Illinois requires 45 hours of pre-license education and 2 years of agent experience for broker licensure. A state broker exam is required. All licensing is managed through the Illinois Department of Financial and Professional Regulation.
Requirements vary by state. Always verify current requirements with your state real estate commission.