The descriptions below follow the Illinois Department of Financial and Professional Regulation curricula under the Real Estate License Act of 2000. Course tuition: call for current pricing.
75-Hour Broker Pre-License Curriculum
Course goal. To provide prospective licensees with the knowledge necessary to prepare for the Illinois Real Estate Broker examination.
Overview. Section 5-27(a)(5) of the Real Estate License Act of 2000 requires an applicant for licensure as a broker to provide satisfactory evidence of having completed 75 hours of instruction in real estate courses approved by the Department, 15 hours of which must consist of situational and case studies presented in the classroom or by live, interactive webinar or online distance education.
The 75-hour pre-license curriculum consists of 3 parts contained within two courses: (i) 60 hours of Real Estate Topics (parts 1 and 2) — IDFPR course license 513.002010; and (ii) 15 hours of Applied Real Estate Principles (part 3) — IDFPR course license 513.002011. The 60-hour broker pre-license real estate topics course may be provided in any format. The 15-hour applied real estate principles course must be provided only in the classroom or through a live, interactive webinar, or online distance education format. A student is not required to take an examination to receive credit for courses completed in a classroom or through a live, interactive webinar, or online distance education format. To receive credit for courses provided through correspondence, or by home study, a student must pass an in-person, proctored examination.
Broker Pre-License (75 hours) · sample lesson
Chapter 1: Illinois License Law
The first 75 seconds of chapter 1 of the 60 Hours Brokers Topics course, part of the Illinois Real Estate Broker Pre-License (75-Hour) program.
Course goal. To provide new broker licensees with enhanced knowledge of a broad range of topics applicable to the real estate profession. The courses will assist the broker in developing the skills necessary to protect consumers and enhance the professionalism of the real estate industry.
Overview. Section 5-50(b) of the Real Estate License Act of 2000 requires that an individual whose first license is that of a broker received on or after August 9, 2019, must provide evidence of having completed 45 hours of post-license education presented in a classroom or through a live, interactive webinar, or online distance education course. The 45 hours consist of three 15-hour post-license courses — Applied Brokerage Principles (513.002030), Risk Management/Discipline (513.002029) and Transactional Issues (513.002028). Each course requires its own 50-question final examination, administered by the education provider delivering the course.
Sexual harassment prevention training is required of all persons who hold a license issued by the Division of Real Estate: a one-hour course, effective for all renewals on or after January 1, 2020, which may be included in the required continuing education hours. This curriculum includes the one-hour sexual harassment prevention training.
Applied Brokerage Principles (15 hours) — outline
The instructor spends approximately 25% of the course hours on conceptual topics; the remaining time is spent on case studies, exercises, role play or discussions that involve fact-based situations.
Brokerage review, legal requirements
Real Estate License Act — purpose and intent; requirements of and restrictions on licensees and licensed activities; scope of practice: residential leasing agent, broker, managing broker
Continuing and post-license education requirements
Real estate brokerage and business practices — sponsoring broker responsibility (designated managing broker responsibilities for brokers who have not completed the 45-hour post-license education); areas of practice: residential, commercial/industrial, property management/leasing; brokerage office policy and procedures; brokerage agreements: listing agreements, buyer representation agreements, leasing/tenant brokerage agreements, property management agreements
Risk Management / Discipline (15 hours) — outline
I. Risk management
Fair Housing — Title VIII, Illinois Human Rights Act, local fair housing ordinances, advertising guidelines, background checks and criminal history, service, emotional support and therapy animals
Antitrust — Sherman Antitrust Act; price fixing, boycotting, affiliated business/tying, market division; class action lawsuits filed by home sellers
Escrow issues — sponsoring and sponsored licensee responsibility, recordkeeping, deposit/disbursement, returning escrow funds when a transaction falls through, next-business-day requirement
Insurance — errors and omissions, general commercial liability, cyber coverage
Compliance with office policies and procedures — agency, brokerage services, areas of competency, training and supervision, advertising, team structure, written employment/independent contractor agreements
Disclosures — Illinois Residential Real Property Disclosure Act, Radon Awareness Act, lead-based paint, disclosure of licensee status, compensation, known physical defects
Sexual harassment and harassment in general — required training
RESPA / Truth in Lending — TRID loan and closing disclosures
Real estate purchase contracts — unlicensed practice of law and the role of the broker
Safety — open houses, first meetings, listed property, the office
Wire fraud, cyber crime and related issues
II. Discipline
Grounds for discipline (Act Sections 20-10 and 20-20); IDFPR procedures — complaints, investigation, prosecutions (informal and formal conference), the Real Estate Administrative and Disciplinary Board, disciplinary sanctions
Case studies from filing to completion (minimum of three)
Transactional Issues (15 hours) — outline
Seller issues
Listing agreements — exclusive right to sell, exclusive agency, open listing, net listing, pricing/comparative market analysis/broker price opinion, compensation, listing expiration options, soliciting other agents’ exclusive listings, guaranteed sales plans
Complying with the listing agreement — dual agency, agency disclosure and notice of no agency
Property disclosures by sellers for buyers — Illinois Real Property Disclosure Report, radon, lead-based paint, mold, flood plain, the licensee’s role
Marketing — Multiple Listing Service, “coming soon” listings, electronic and print media, disclosure of licensee status and interest
Showing licensee-listed property — dual agency and when it is prohibited
Offer and contract issues — presentation of offers, electronic signatures and document storage, counter offers, multiple offers, “as-is” and inspection contingencies, negotiating repair addendums
45-Hour Managing Broker Pre-License
For licensed brokers upgrading to managing broker: the 30-hour Managing Broker Topics course (classroom or distance learning; IDFPR course license 513.002031) and the 15-hour Applied Management & Supervision interactive course (IDFPR course license 513.002032).
Real estate courses are approved by the Illinois Department of Financial and Professional Regulation, Division of Real Estate. Examination and licensing fees are paid by the student directly to the testing vendor and IDFPR. Placement is not guaranteed.
