Are you ready to advance your real estate career in Illinois? Getting your managing broker license opens many doors. But first, you must understand Illinois managing broker license requirements. Meeting these standards is essential to move forward confidently.

This guide breaks down everything you need to know about becoming a managing broker in Illinois. From eligibility criteria to education and exam details, we’ve got you covered.

What Is a Managing Broker License?

A managing broker license gives you the legal authority to run your real estate brokerage. It also allows you to supervise other brokers. Unlike a broker license, this credential provides more freedom and responsibility in the real estate world.

Managing brokers often oversee daily office operations, ensure compliance with state laws, and guide sales agents. If you want to lead a team or open your brokerage, obtaining this license is crucial.

Illinois Managing Broker License Requirements: Eligibility

Before you register for courses or exams, confirm you meet the eligibility requirements:

• You must hold a broker license for at least 2 of the last 3 years before applying.
  
  

• Be at least 20 years old.
  
  

• Complete the required education hours for managing brokers.

Meeting these basic qualifications ensures you’re on the right path.

Education Hours: What Illinois Requires

The state mandates a total of 165 hours of real estate education split as follows:

• 75-hour broker pre-license course
  
  

• 45-hour broker post-license course
  
  

• 45-hour managing broker pre-license course

The managing broker course consists of two parts: a 30-hour theory section and a 15-hour practical simulation and application segment. The education aims to prepare you both for the state exam and real-world managing broker duties.

Course Delivery Options: Flexible Learning

You can complete the 45-hour managing broker course through:

• Home Study: Includes a textbook and access to online practice exams. You study at your own pace.
  
  

• Live Online/Interactive Classroom: A two-day in-person or virtual session focusing on application and supervision skills.

After finishing the 30-hour theory portion, you schedule the 15-hour classroom or live online session. This setup balances flexibility with hands-on learning.

Passing the Managing Broker Exam

After completing your education, you must pass the state exam administered by PSI. Passing requires a minimum score of 75%. Once successful, PSI will issue a printout confirming your exam completion.

Bring this printout to your chosen brokerage or use it when applying to open your own office. Remember, getting your license is the final step to becoming a managing broker.

What Happens After You Pass?

Once you pass the exam, the testing service reports your results to the Illinois Department of Financial and Professional Regulation (IDFPR). This process can take up to 30 days.

During this period, your application moves through the official channels. After approval, you officially hold the managing broker license and can practice accordingly.

Why Choose Inland Real Estate School?

Inland Real Estate School offers comprehensive managing broker courses aligned with Illinois requirements. Their instructors bring over 40 years of real estate experience. This experience enriches learning and makes complex topics easy to understand.

The school provides both home-study and live online options. You get to choose the format that best fits your schedule and learning style. Plus, Inland helps with the licensing process if you plan to start your brokerage.

Tips for Success

• Plan your study schedule: Stay consistent to finish within the 60-day window.
  
  

• Take practice exams seriously: They build confidence and test your understanding.
  
  

• Ask questions: Use instructor support if you struggle with any topic.
  
  

• Schedule your exam early: Avoid last-minute delays.

Following these steps ensures smooth progress toward your managing broker license.

Summary of Illinois Managing Broker License Requirements

• Hold a broker license for 2 of the past 3 years.
  
  

• Be at least 20 years old.
  
  

• Complete 165 hours of education, including a 45-hour managing broker course.
  
  

• Pass the PSI managing broker exam with 75% or higher.
  
  

• Submit your license application after passing.
  
  

This path leads to more control over your real estate career and opens doors to leadership opportunities.

Conclusion

Becoming a managing broker in Illinois requires careful preparation and meeting clear requirements. Focus on completing your education hours and passing the exam. Once licensed, you gain greater independence and the ability to lead others. With the right support, your managing broker's goals are within reach. Stay committed, study smart, and take control of your future today.

Ready to meet Illinois managing broker license requirements and advance your career? Enroll today with Inland Real Estate School and get expert guidance every step of the way. Start your journey now!