How to become a realtor in Illinois, IL
Learn how to become a licensed realtor in Illinois with our comprehensive guide. Get step-by-step instructions, requirements, and tips to kickstart your career in real estate. Start your journey today!?
To become a realtor in Illinois, you must first complete a 75-hour pre-license course from an approved provider. After completing the course, you must pass the state licensing exam and submit an application to the Illinois Department of Financial and Professional Regulation. You must also be sponsored by a managing broker who is licensed in Illinois. Once your application is approved, you will receive your real estate license and can begin practicing as a realtor in Illinois. It is important to note that continuing education is required to maintain your license and stay up-to-date on industry changes and regulations.
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Key skills and competencies
To become a realtor in Illinois, IL, the following competencies are required:
1. Education: Completion of 90 hours of pre-licensing education from an approved provider.
2. Exam: Pass the Illinois Real Estate Salesperson Exam.
3. Background Check: Submit fingerprints for a criminal background check.
4. License: Obtain a real estate license from the Illinois Department of Financial and Professional Regulation.
5. Knowledge: Possess knowledge of real estate laws, regulations, and practices.
6. Communication: Excellent communication skills to effectively communicate with clients, other agents, and industry professionals.
7. Marketing: Ability to market properties and promote oneself as a real estate agent.
8. Negotiation: Strong negotiation skills to help clients get the best deal possible.
9. Technology: Familiarity with technology and software used in the real estate industry.
10. Ethics: Adherence to ethical standards and principles of the National Association of Realtors.
Local salary expectations or estimates
According to the Bureau of Labor Statistics, the median annual salary for real estate brokers and sales agents in Illinois was $50,300 as of May 2020. However, this can vary greatly depending on factors such as experience, location, and the type of real estate market they work in. Some realtors may earn significantly more through commissions on high-end properties or by building a large client base.
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