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Illinois Real Estate Broker — Requirements & Free Practice

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Real Estate Managing Broker

Managing-broker licence with authority to supervise and, when registered, self-sponsor.

Licensing authority: Illinois Department of Financial and Professional Regulation, Division of Real Estate · Application information

Restoration following completion of suspension, revocation or probation
No examination is required for this applicant pathway.
Board Discretion
Restoration is discretionary on the Board recommendation, investigation, fitness and public-interest determination; the applicant must satisfy any applicable restoration education requirement through an exempt or otherwise completed course-exam pathway.
Disciplinary Term
Successfully complete the disciplinary term and all conditions imposed by the professional act, rules and disciplinary order.
Petition
File the signed Petition to Restore with required licence/case identification, employment, remedial education and rehabilitation history under rule 1110.30.

Official no-examination sources

Effective from 2026-09-22.

Licensure by endorsement
Illinois Real Estate Managing Broker Examination — State Portion
Application
Submit the prescribed application and required fee.
Board Instructions
The PSI booklet additionally lists age 20 and high-school equivalency; record those implementing instructions as applicant conditions.
Endorsement Education
Complete the approved 30-hour managing-broker pre-license endorsement course.
Experience
At least two years of active practice as a managing broker or equivalent immediately before application.
Licence Held
Hold an active managing-broker licence or equivalent from another United States state or jurisdiction.
Service Of Process
Execute the required assent to Illinois law and jurisdiction and designation for service of process.
Sponsorship
Show sponsorship or self-sponsorship for active status; self-sponsored applicants provide consent to examine and audit special accounts.
Verification
Supply official certification from every jurisdiction of licensure showing active status, good standing, disciplinary history and at least two years of immediately preceding active practice.
Licensure by examination — active illinois broker
Illinois Real Estate Managing Broker Examination — State Portion
Application
Submit the prescribed application and required fee; use SSN or ITIN as permitted by section 5-6.
Education
Complete 165 total approved hours: 120 broker pre- and post-license hours and 45 managing-broker hours; the statute requires the additional 45 hours within the year before applying, while PSI describes two-year education validity. The statutory one-year condition controls.
Education Validity
Approved pre-license education is valid for two years after satisfactory completion under section 5-35(a).
Existing Licence
Hold an active Illinois broker licence; PSI presumes the 120 broker hours complete, leaving 45 managing-broker hours.
Experience
Actively licensed and in good standing as a broker for two consecutive years out of the preceding three years.
Minimum Age
At least 20 years old.
Moral Character
The applicant must be of good moral character under 225 ILCS 454/5-25.
Retesting
After four consecutive failures repeat the prescribed pre-license education and submit a new examination application; the PSI booklet states that education-exempt candidates need not repeat the education.
School
Complete the statutory high-school or equivalent requirement.
Score Window
Apply and meet all licensure requirements within one year after a passing examination score; otherwise examination credit terminates under section 5-35(b).
Sponsorship
Register valid sponsorship before engaging in licensed activities; managing brokers may qualify for self-sponsorship.
Licensure by examination — attorney
Illinois Real Estate Managing Broker Examination — State Portion
Application
Submit the prescribed application and required fee; use SSN or ITIN as permitted by section 5-6.
Education
The 165-hour education requirement is waived for an attorney currently admitted by the Illinois Supreme Court and in active standing; the statutory high-school requirement remains.
Education Validity
Approved pre-license education is valid for two years after satisfactory completion under section 5-35(a).
Experience
Actively licensed and in good standing as a broker for two consecutive years out of the preceding three years.
Minimum Age
At least 20 years old.
Moral Character
The applicant must be of good moral character under 225 ILCS 454/5-25.
Retesting
After four consecutive failures repeat the prescribed pre-license education and submit a new examination application; the PSI booklet states that education-exempt candidates need not repeat the education.
School
Complete the statutory high-school or equivalent requirement.
Score Window
Apply and meet all licensure requirements within one year after a passing examination score; otherwise examination credit terminates under section 5-35(b).
Sponsorship
Register valid sponsorship before engaging in licensed activities; managing brokers may qualify for self-sponsorship.
Licensure by examination — other qualified broker
Illinois Real Estate Managing Broker Examination — State Portion
Application
Submit the prescribed application and required fee; use SSN or ITIN as permitted by section 5-6.
Education
Complete 165 total approved hours: 120 broker pre- and post-license hours and 45 managing-broker hours; the statute requires the additional 45 hours within the year before applying, while PSI describes two-year education validity. The statutory one-year condition controls.
Education Validity
Approved pre-license education is valid for two years after satisfactory completion under section 5-35(a).
Existing Licence
Qualify without an active Illinois broker licence; document all 165 approved hours and the required broker licence history.
Experience
Actively licensed and in good standing as a broker for two consecutive years out of the preceding three years.
Minimum Age
At least 20 years old.
Moral Character
The applicant must be of good moral character under 225 ILCS 454/5-25.
Retesting
After four consecutive failures repeat the prescribed pre-license education and submit a new examination application; the PSI booklet states that education-exempt candidates need not repeat the education.
School
Complete the statutory high-school or equivalent requirement.
Score Window
Apply and meet all licensure requirements within one year after a passing examination score; otherwise examination credit terminates under section 5-35(b).
Sponsorship
Register valid sponsorship before engaging in licensed activities; managing brokers may qualify for self-sponsorship.
New applicant licensure after more than five years expired — attorney
Illinois Real Estate Managing Broker Examination — State Portion
Application
Submit the prescribed application and required fee; use SSN or ITIN as permitted by section 5-6.
Education Validity
Approved pre-license education is valid for two years after satisfactory completion under section 5-35(a).
Expiration
Licence expired for more than five years; meet all requirements for a new licence.
Moral Character
The applicant must be of good moral character under 225 ILCS 454/5-25.
Qualification
Use the currently active Illinois-attorney education exemption where applicable; other minimum age, experience, application and examination requirements remain.
Retesting
After four consecutive failures repeat the prescribed pre-license education and submit a new examination application; the PSI booklet states that education-exempt candidates need not repeat the education.
Score Window
Apply and meet all licensure requirements within one year after a passing examination score; otherwise examination credit terminates under section 5-35(b).
Sponsorship
Register valid sponsorship before engaging in licensed activities; managing brokers may qualify for self-sponsorship.
New applicant licensure after more than five years expired — education
Illinois Real Estate Managing Broker Examination — State Portion
Application
Submit the prescribed application and required fee; use SSN or ITIN as permitted by section 5-6.
Education Validity
Approved pre-license education is valid for two years after satisfactory completion under section 5-35(a).
Expiration
Licence expired for more than five years; meet all requirements for a new licence.
Moral Character
The applicant must be of good moral character under 225 ILCS 454/5-25.
Qualification
Meet the full statutory age, good character, school, education and, for managing brokers, broker-experience requirements of a new applicant.
Retesting
After four consecutive failures repeat the prescribed pre-license education and submit a new examination application; the PSI booklet states that education-exempt candidates need not repeat the education.
Score Window
Apply and meet all licensure requirements within one year after a passing examination score; otherwise examination credit terminates under section 5-35(b).
Sponsorship
Register valid sponsorship before engaging in licensed activities; managing brokers may qualify for self-sponsorship.
Reinstatement or late renewal within two years of expiration — interactive education
No examination is required for this applicant pathway.
Delivery
Use interactive course formats for which section 30-15(i)(5) requires no final examination.
Education
12 CE hours (6 core including 2 fair-housing hours and 6 electives), plus 12 hours of broker-management CE; the first managing-broker renewal may credit the qualifying 45-hour pre-license management course. All outstanding post-license course-examination obligations must already be satisfied for this route.
Expiration
The licence expired within the statutory two-year renewal window.
Fees
Submit the required renewal/reinstatement application, lapsed renewal fees and other applicable fees; active practice requires sponsorship.

Official no-examination sources

Effective from 2026-09-22.

Renewal, reinstatement or restoration after qualifying military/training/Department service
No examination is required for this applicant pathway.
Deadline
Apply and furnish satisfactory service and honorable-termination evidence within two years after the service/training ends.
Licence Equivalent
The rule requires a licence equivalent to the one held before qualifying service.
Service
Licence expired during qualifying active military or militia service, pre-induction training/education, or service as the Coordinator of Real Estate or Department employee.
Waivers
No lapsed renewal fees, no CE for the qualifying period, and no examination under rule 1450.140(j)(4).

Official no-examination sources

Effective from 2026-09-22.

Reactivate a current inactive licence by registering sponsorship
No examination is required for this applicant pathway.
Currency
Maintain required renewal and education compliance; this route concerns current inactive status rather than an expired licence requiring restoration.
Licence Held
Hold a current inactive licence; the sponsoring broker may register it under rule 1450.110.
Sponsorship
Register sponsorship in the prescribed format within 24 hours and submit the required sponsorship fee; managing brokers may qualify for self-sponsorship.

Official no-examination sources

Effective from 2026-09-22.

Renewal with statutory continuing education exemption
No examination is required for this applicant pathway.
Application
Renewal application, required fees and sponsorship remain required.
Exemption
Section 5-70(b) exempts qualifying armed-service members, elected State/federal officials, full-time Department employees and persons admitted under Illinois Supreme Court rule; the Secretary may also waive CE for good cause on Board recommendation.
Post License
For a broker with a pending first-term 45-hour post-license obligation, that separate course-examination obligation must already have been satisfied or be independently exempt under rule 1450.410(d). This route does not waive it.

Official no-examination sources

Effective from 2026-09-22.

Timely renewal with interactive continuing education and no outstanding post license course exams
No examination is required for this applicant pathway.
Cycle
Expires April 30 of each odd-numbered year.
Delivery
Complete required course credit in a classroom, live interactive webinar or online distance education format under section 30-15(i)(5); coursework participation/proficiency requirements remain training conditions.
Disciplinary Balances
Pay outstanding disciplinary fines/fees and unlicensed-practice penalties or remain current on the authorized payment plan under section 5-50(h)-(i).
Education
12 CE hours (6 core including 2 fair-housing hours and 6 electives), plus 12 hours of broker-management CE; the first managing-broker renewal may credit the qualifying 45-hour pre-license management course.
Eligibility
For brokers, this route is for renewals after satisfying any first-term 45-hour post-license education and final examinations.
Renewal
Submit the renewal application and fee; provide active sponsorship or qualifying self-sponsorship.

Official no-examination sources

Effective from 2026-09-22.

Restoration after more than two but less than five years expired — interactive education
No examination is required for this applicant pathway.
Application
Submit signed restoration application, required fee and acceptable proof of fitness.
Delivery
Use interactive course credit under section 30-15(i)(5).
Education
12 CE hours (6 core including 2 fair-housing hours and 6 electives), plus 12 hours of broker-management CE; the first managing-broker renewal may credit the qualifying 45-hour pre-license management course. Section 5-50(c) requires the most recent completed term; rule 1450.145 demands CE for all elapsed terms. Record the rule demand for the applicant while applying the statute as controlling. Any required broker post-license finals must already be satisfied.
Expiration
Licence expired for more than two but less than five years.

Official no-examination sources

Effective from 2026-09-22.

Temporary continued office operation after loss, death or disability of the designated managing broker
No examination is required for this applicant pathway.
Request
Submit the written authorization request within 15 days after the loss.
Supervision
A licensed managing broker, or the estate representative in the death/disability case, assumes responsibility in writing and personally supervises office operation. The rule permits estate closeout rather than the representative actively engaging in licensed activities.
Term
The authorization lasts no more than 60 days unless the Department extends it on written request for good cause; it does not itself confer a new individual managing-broker licence.

Official no-examination sources

Effective from 2026-09-22.

Illinois Real Estate Managing Broker Examination — State Portion

Provider
PSI Services LLC
Format
Computer-delivered examination
Exam questions
50 scored questions
Time limit
90 minutes
Passing score
75%
Examination outline
  • I. Licensing Requirements (5%)
    • A. Activities requiring a license
    • B. License exemptions
    • C. Types of licenses
    • C. Types of licenses — 1. Broker
    • C. Types of licenses — 2. Managing Broker
    • C. Types of licenses — 3. Residential Leasing Agent
    • C. Types of licenses — 4. Instructor (pre-license and continuing education)
    • D. Eligibility for licensing, including sponsorship
    • E. Examination
    • F. License renewal
    • G. Post-licensing and continuing education
    • H. Change in address, name, or business information for a licensee
  • II. Illinois Real Estate License Act (30%)
    • A. Agency relationships
    • A. Agency relationships — 1. Stigmatized property issues
    • A. Agency relationships — 2. Material facts
    • B. Advertising
    • C. Sponsored licensee/sponsoring broker relationship
    • D. Brokerage agreements
    • D. Brokerage agreements — 1. Non-exclusive
    • D. Brokerage agreements — 2. Exclusive
    • D. Brokerage agreements — 2. Exclusive — a. Minimum services
    • E. Compensation requirements
    • E. Compensation requirements — 1. Contractual obligation
    • F. Interference with contracts or agreements
    • G. Licensed/Unlicensed assistants
    • H. Teams
    • H. Teams — 1. Team names
    • H. Teams — 2. Supervision
    • I. Handling of monies
    • I. Handling of monies — 1. Special accounts
    • I. Handling of monies — 2. Security deposits
    • J. Handling of documents
    • K. Disciplinary provisions
    • K. Disciplinary provisions — 1. Unprofessional conduct
    • L. Comparative market analysis (CMA)/Broker price opinion (BPO) requirements
    • M. Purchase contracts and lease agreements
    • M. Purchase contracts and lease agreements — 1. Chicago Bar Association et al vs Quinlan and Tyson inc.
    • N. Purpose of License Law
  • III. Additional Illinois Laws and Regulations Affecting Real Estate Practice (15%)
    • A. Ownership interests
    • A. Ownership interests — 1. Trusts
    • A. Ownership interests — 2. Homestead
    • A. Ownership interests — 3. Government powers
    • A. Ownership interests — 4. Co-ownership
    • A. Ownership interests — 5. Condominiums
    • A. Ownership interests — 6. Cooperatives
    • A. Ownership interests — 7. Ownership by business entities (managing broker only)
    • A. Ownership interests — 8. Deed restrictions and subdivision covenants, conditions and restrictions (CC&Rs) (managing broker only)
    • B. Performing activities exceeding the scope of real estate licensing
    • B. Performing activities exceeding the scope of real estate licensing — 1. Law
    • B. Performing activities exceeding the scope of real estate licensing — 2. Securities
    • B. Performing activities exceeding the scope of real estate licensing — 3. Illinois Business Broker Act
    • B. Performing activities exceeding the scope of real estate licensing — 4. Situations which require appraisal by a licensed or certified appraiser and brokerage-related actions that constitute unauthorized appraisal practice (managing broker only)
    • C. Transfer taxes
    • D. Transfer of title
    • D. Transfer of title — 1. Involuntary vs voluntary transfer
    • D. Transfer of title — 2. Title insurance policies and title searches (Managing Broker only)
    • D. Transfer of title — 2. Title insurance policies and title searches (Managing Broker only) — a. Owner policy and lender policy (Managing Broker only)
    • D. Transfer of title — 3. Marketable and insurable title (Managing Broker only)
    • D. Transfer of title — 4. Settlement procedures (closing) and parties involved (Managing Broker only)
    • D. Transfer of title — 5. Special issues in transferring foreclosed properties (Managing Broker only)
    • D. Transfer of title — 6. Special issues in short sale transactions (Managing Broker only)
    • D. Transfer of title — 7. Special issues in probate transactions (Managing Broker only)
    • E. Legal description/Plat Act
    • F. Real estate taxes and exemptions
    • G. Illinois Human Rights Act
    • G. Illinois Human Rights Act — 1. Fair Housing advertising rules
    • H. Illinois Assistance Animal Integrity Act
    • I. Illinois Landlord Tenant Act
    • J. Commercial Broker Lien Act
    • K. Radon Resistant Construction Act
    • L. Effect of the Statute of Frauds (managing broker only)
  • IV. Disclosures (10%)
    • A. Agency
    • A. Agency — 1. Designated agencies
    • A. Agency — 1. Designated agencies — a. Seller/landlord
    • A. Agency — 1. Designated agencies — b. Buyer/tenant
    • A. Agency — 1. Designated agencies — c. Dual
    • A. Agency — 2. Notice of no agency relationship
    • A. Agency — 3. Prohibition against transactional broker and facilitator
    • A. Agency — 4. Contemporaneous offers
    • B. Licensee status direct/indirect interest
    • C. Compensation sources
    • D. Property disclosure
    • D. Property disclosure — 1. Residential Real Property Disclosure Act
    • D. Property disclosure — 2. Material defects
    • E. Environmental and other disclosures
    • E. Environmental and other disclosures — 1. Radon
    • E. Environmental and other disclosures — 2. Lead based paint
    • E. Environmental and other disclosures — 3. Mine subsidence
    • E. Environmental and other disclosures — 4. Underground storage tanks
    • E. Environmental and other disclosures — 5. Flooding (landlords)
  • V. Managing Broker/Instructor (ONLY) Topics (40%)
    • A. Sponsoring broker/designated managing Broker responsibilities
    • A. Sponsoring broker/designated managing Broker responsibilities — 1. Training
    • A. Sponsoring broker/designated managing Broker responsibilities — 2. Supervision
    • A. Sponsoring broker/designated managing Broker responsibilities — 2. Supervision — a. Specific duties related to newly licensed brokers
    • A. Sponsoring broker/designated managing Broker responsibilities — 2. Supervision — b. Renewal of sponsored licensees
    • B. Special accounts
    • B. Special accounts — 1. Accounting requirements
    • B. Special accounts — 1. Accounting requirements — a. Timely deposits and disbursements
    • B. Special accounts — 1. Accounting requirements — b. Required documentation
    • B. Special accounts — 2. Prohibited acts
    • B. Special accounts — 3. Escrow disbursement
    • B. Special accounts — 4. Escrow disputes
    • C. Examination of records
    • C. Examination of records — 1. Record retention
    • C. Examination of records — 2. Compliance examination
    • D. Corporation/partnership/limited liability company licensure and renewal
    • E. Licensure by endorsement
    • F. Real Estate Recovery Fund
    • G. Rental finding services
    • H. Rental property management
    • I. Virtual and Branch offices
    • J. Real estate calculations
    • J. Real estate calculations — 1. Income analysis approach to property valuation and appropriate uses
    • J. Real estate calculations — 2. Seller’s net proceeds
    • J. Real estate calculations — 3. Buyer funds needed at closing
    • J. Real estate calculations — 4. Real property tax and other prorations
    • J. Real estate calculations — 5. Real property transfer fees
    • J. Real estate calculations — 6. PITI (Principal, Interest, Taxes and Insurance) payments estimate given loan rate and term
    • J. Real estate calculations — 7. Equity
    • J. Real estate calculations — 8. Loan-to-Value ratio
    • J. Real estate calculations — 9. Discount points and loan origination fees
    • K. Financing and lending
    • K. Financing and lending — 1. Owner financing (for example, installment or land contract/contract for deed)
    • K. Financing and lending — 2. Real Estate Settlement Procedures Act (RESPA), including kickbacks
    • K. Financing and lending — 3. Truth-in-Lending Act (Regulation Z), including advertising
    • K. Financing and lending — 4. Requirements and time frames of TRID (TILA-RESPA Integrated Disclosures)
    • K. Financing and lending — 5. Government loans (e.g., FHA, VA, USDA)
    • K. Financing and lending — 6. Loan features, such as prepayment penalties and balloon payments
    • L. Contract issues
    • L. Contract issues — 1. Void, voidable and unenforceable contracts
    • L. Contract issues — 2. Termination, rescission, breach, and cancellation of contracts
    • L. Contract issues — 3. Nature and use of option agreements
    • L. Contract issues — 4. Notice, delivery, acceptance and execution of contracts
    • L. Contract issues — 5. Proper handling of multiple offers and counteroffers
    • L. Contract issues — 5. Proper handling of multiple offers and counteroffers — a. Escalation clauses
    • L. Contract issues — 5. Proper handling of multiple offers and counteroffers — b. Disclosure and confidentiality
    • L. Contract issues — 6. Addenda and amendments to contracts
    • L. Contract issues — 7. Lease-purchase agreements
    • L. Contract issues — 8. Seller concessions
    • L. Contract issues — 8. Seller concessions — a. Compensation and brokerage fees
    • L. Contract issues — 8. Seller concessions — b. Financing/Closing costs
    • L. Contract issues — 8. Seller concessions — c. Repairs and other concessions
    • L. Contract issues — 9. Real estate tax proration issues
    • L. Contract issues — 10. Letters of intent
    • L. Contract issues — 11. Types of leases
    • M. Property management issues
    • M. Property management issues — 1. Fair Credit Reporting Act
    • M. Property management issues — 2. Procurement and qualification of prospective tenants
    • M. Property management issues — 3. Property manager responsibility for maintenance, improvements, reporting and risk management
    • M. Property management issues — 4. Handling landlord and tenant funds; trust accounts, reports and disbursements
    • M. Property management issues — 5. Provisions of property management contracts
    • N. Antitrust laws and types of violations
    • O. Employment law
    • O. Employment law — 1. Employees or independent contractors and governing rules
Examination sources