How do I become a sponsoring broker in Illinois?
- Be at least 20 years of age.
- Hold a high school diploma or GED equivalent.
- Have worked as a broker for two consecutive years of the preceding three years.
- Complete the 45-hour managing broker course.
- Pass a state exam.
Can you represent more than one sponsoring broker in Illinois?
Section 10-20(a) of the Illinois Real Estate License Act of 2000 (RELA): A licensee may perform activities as a licensee only for his or her sponsoring broker. A licensee must have only one sponsoring broker at any one time.
How do I start a real estate brokerage in Illinois?
Start-up costs for Illinois brokers
Getting licensed (state-required 90 hours coursework, state exam fee, license fee paid to Illinois Dept. Of Financial and Professional Regulation) Post-license state-required education (75 hours) REALTOR members must complete 2.5 hours of Code of Ethics training.