Home Buying in 60640>Question Details

Daniel85, Home Buyer in Chicago, IL

What is the process of becoming a real estate agent in Chicago?

Asked by Daniel85, Chicago, IL Mon Dec 6, 2010

What is the process of becoming a real estate agent in Chicago, and does any one have any recommendations on ways to go about doing it?

Thanks!

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14
Hi Daniel-

If you are an attorney, you can take the exam without taking the class, otherwise you need to take the classes.

Currently you can be either a salesperson or a broker in Illinois and sell real estate.
A broker is self supervised, able to conduct the entire transaction, allowed to sell and lease real property and be paid for it.
A salesperson must be sponsored by a broker, i.e. they are supervised by the broker and must be paid through the broker for any and all real estate related business they conduct.

In April of 2012 all real estate agents will need to hold a form of a broker's license under the most recent legislation in Illinois. As a salesperson you will have a choice of either taking a proficiency exam or additional classwork to get your broker's license.
You, now and then, will have to take the managing broker's exam and class to supervise others ( open your own office) after you have worked for another broker.
You will be able to self sponsor (referred to as holding your own license) with the broker's license ( you will not need to be a managing broker).

These classes teach you the license law and the legal parameters of selling real estate. they do not teach you about the actual process or custom. This is training, and is also available through local REALTOR Associations as well as brokerages like ours.
It is a very rewarding career personally and financially for the right person. Best of luck with your endeavors, feel free to email me or call if you have more questions.

Dave
1 vote Thank Flag Link Mon Dec 6, 2010
Here are a few options for your real estate pre-licensing coursework.

The Real Estate Institute.
They offer a self-study course. They will mail you a physical textbook and there are 6 reading lessons w/ associated exams that will need to be passed. I believe that you can take those online or on paper and mail them in. They offer instructor assistance for questions via phone. The typical timeframe for completing the self-study course is 4-6 weeks.


Chicago Association of Realtors
Through their RRES (Realtors Real Estate School), they offer classroom courses at various locations, including the accelerated 1-week class, self-study course or online course. Details regarding each you can find by visiting their website.


If you are seriously interested in a career in real estate, feel free to contact me. We offer all of the right tools and a generous commission structure that allow you to be very successful in the real estate industry.


John Gall, ABR , SFR
Broker
Realty Executives SourceOne
C: (773) 220-4421
E: JGall@realtyexecutives.com
1 vote Thank Flag Link Mon Dec 6, 2010
Matt, I think you understand exactly what im trying to do here. Although I may in the future help out some of my friends when they are looking to get real estate. So what im understanding from you is the easiest route to do this is get my brokers license and then shop around for a brokerage that will give me a very large split of the commissions?

Also can you send me the link to the online class?

Thanks
0 votes Thank Flag Link Tue Dec 7, 2010
You will have to go ahead and get your brokers license, because it is becoming state law that everyone must be a broker. You can take these classes online, or you can take it in a class. Once you pass all the tests, you will have to choose what office you would like to go with. OR you can start up your own company. If you start your own company you will have to get a license for that through the DFPR and also you will need to join a board. (C.A.R, Mainstreet, etc) If you go this route, you will have to take some more classes, like a managing broker class that is now mandatory. Now if you just joined a company, you wouldnt have to do this. You will also have to take some more classes once you become a member of a board, like a ethics class, and while all the material is fresh in your brain, you may as well get the C.E (continuing education) done with as well.

Now if you go the joining a company route, interview as many companies as possible. I have worked for bigger companies. The downside is, as a new agent you will be on a terrible split, and most of the time they have high yearly dues. You will also have a ton of competition from people inside your company, since you are really working for yourself. You can also try smaller firms, that usually have higher splits, but less to offer you technologically and in other ways. It seems to me from the amount of questions you have asked in the past, that you are an investor looking to make a little off of the deals you do for yourself. If this was the case, I would probably go the smaller company route. If you have any other questions, I would be happy to help, I have done both ways, and know how to run a company, as I assist my owner in my current one.

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
mlaricy@americorpre.com
708-250-2696
0 votes Thank Flag Link Tue Dec 7, 2010
Back in 1988, I took a Pre-Licensing class at my local community college.
Passed that class, then took the State exam...and passed it the first try.
I then started interviewing Brokers, found one I wanted to emulate and joined on a split.
Currently I'm with EXIT Strategy Realty in Lakeview.
Check this out: http://www.exitrealty.com/take10.aspx
Call or e-mail me to discuss further.
MikePetersonTheRealtor@yahoo.com
773-988-9136
0 votes Thank Flag Link Tue Dec 7, 2010
If i want to go solo, what path would I take. On the brochure in the link it says that you need to find a sponsoring brokerage. Can i just go right ahead and become a broker?
0 votes Thank Flag Link Tue Dec 7, 2010
The Chicago Association of Realtors (C.A.R.) is a great place for you to start.



The salesperson pre-licensing course information is provided here - http://www.chicagorealtor.com/displaycommon.cfm?an=1&sub… - and you can study at home, online, or via classes.



Here is a brochure from C.A.R. about how to begin your career in real estate: http://www.chicagorealtor.com/associations/6001/files/Licens…



Dream Town is a great brokerage - AND a great place to start your career.

Give us a call anytime to set up an appointment to discuss your options and the process. We can be reached at 312.242.1000 and here is a link to information about starting your career with us - http://www.dreamtown.com/careeropps.htm.



Best of luck to you!

Welcome aboard!
Web Reference: http://www.dreamtown.com
0 votes Thank Flag Link Tue Dec 7, 2010
There are many trainers out there and they will train you on all kinds of things. Mind you there is training for passing state tests and there is training to teach you how to be a great agent. Email me for the best info on either farmandlakehouses@yahoo.com How do I know? Was a trainer for ReMax and C21.
0 votes Thank Flag Link Mon Dec 6, 2010
All the information you'll need is located in the link below at the Illinois Realtor Organization.

You will not be able to obtain a managing broker's license (and thereby 'go it on your own'), without some prior experience as an agent first...

(I don't remember offhand how many years you must be an agent first, prior to becoming a managing broker)
0 votes Thank Flag Link Mon Dec 6, 2010
Alan May, Real Estate Pro in Evanston, IL
MVP'08
Contact
Can you take the exam without taking one of the courses? And can some explain the difference between sitting for the sales agent and broker exam?
0 votes Thank Flag Link Mon Dec 6, 2010
What is the difference between the 45hr of training Agent Course and the 120 hr of training Broker Course. I am planning on going solo. Would I need the Agent course be sufficient to do this with?
0 votes Thank Flag Link Mon Dec 6, 2010
Take classes, most Brokerages in the area offer real estate classes, then take the state exam....pass it, get your license --- and that's the easy part, there are also fees involved.... Check out the website below ChicagoRealtor.com or visit any of the brokerages in your area... I work for Prudential Rubloff and they offer
real estate licensing classes or contact any other brokerage company that offers those...

Once you have your license the hard work begins and having a sponsor (experienced agent) guiding you, or a really good new agent program by the brokerage you will be finally working for, is very important to be successful.

Good Luck to you!
Edith YourRealtor4Life Prudential Rubloff Chicago & the Northshore offices
EdithSellsHomes@gmail.com
0 votes Thank Flag Link Mon Dec 6, 2010
Hi,
You have to attend school and training and take the states exam. Keller Williams Realty Professionals is got a very good AGENT TRAINING PROGRAM and can help you get on your way. Call John Youker to get a full scope of what you need to become an agent, he will give you good information and direction at no cost. His number is 1-937-974-5176 this number is from Ohio but he lives here in Chicago. He is an excellent trainer and can really help you. Give him my name, Connie.
Best Regards,
0 votes Thank Flag Link Mon Dec 6, 2010
Hi does this contact still exist as it was posted in 2010. Thanks!
Flag Thu Aug 21, 2014
Hello

Best bet check out http://www.chicagorealtor.com and click on education. Lots of different options. 45 hour course followed by a state/national exam. Not too bad.

If you want to start leasing you can actually start tomorrow with a 120 sponsor card while you take a 15 hour course

Questions let me know
Web Reference: http://www.kalerealty.com
0 votes Thank Flag Link Mon Dec 6, 2010
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