How much is the real estate exam in Illinois?

How much is the Illinois real estate exam?

The Examination Fees are $45 for either a salesperson applicant or a broker applicant. The license fees for real estate agents are $125 for a salesperson initial license and $100 for a salesperson to renew a license.

Is the Illinois real estate exam hard?

With proper preparation, the real estate exam is not that hard. You can pass. How do we know? More than 95 percent of the test takers who use our real estate prep materials pass the exam.

Can I take the Illinois real estate exam online?

The required Illinois real estate pre-license program consists of two courses: Broker Pre-License Topics and Broker Pre-License Applied Real Estate Principles. You may take these courses online in a completely self-guided format or with interactive components or in a classroom.

How do I take the Illinois real estate exam?

Hold a high school diploma or its equivalent.

  1. Complete 75 hours of approved Pre-Licensing education. …
  2. Pass the course final exam. …
  3. Pass the Illinois Real Estate Broker Examination. …
  4. Select a sponsoring broker. …
  5. Complete the application.
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Is getting real estate license worth it?

Getting licensed takes both time and money – not something every new investor has. If you can use your real estate license for deals, networking or to save or earn more money, it is worth the investment. Of course, you can always work with licensed people, but sometimes having your own avoids a lot of hassle.

Can you be a part time realtor?

Yes, you can be a part-time real estate agent. The process of becoming a part-time agent is almost exactly the same as for people training to become a full-time agent. The only difference is that some brokerages typically won’t hire people who work part-time.

What questions are on the Illinois Real Estate exam?

The broker exam consists of 100 multiple-choice questions for the national portion and 40 multiple-choice questions for the state-specific portion. The managing broker exam consists of 10 simulation problems for the national portion and 40 multiple-choice questions for the state-specific portion.

Is real estate a good career?

Working as a real estate agent or broker can be fulfilling and financially rewarding, but it’s not easy. A career in real estate requires drumming up business, promoting yourself, tracking leads, handling complex paperwork, providing customer service, and much, much more.

How much does a realtor make in Illinois?

The average salary for a real estate agent in Illinois is around $51,155 per year.

What is the salary for real estate agents?

The median annual pay for real estate agents was $48,930 in 2019, according to the most recent data available from the U.S Bureau of Labor Statistics.

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Is the real estate exam hard?

Real estate exams are designed to be difficult to pass, so they can weed out people who are not going to be skilled agents. Though the pass rate varies based on the state exam, they hover around 50% across the country. This means only about half of the people who take a state licensing exam pass.

How many times can you take the real estate exam in Illinois?

How many times can I take the state exam? The state exam has two sections; a general section and an Illinois specific section. You must pass each section with a minimum grade of 75%. If you fail the exam, you may retake the exam 3 more times (total of four times).

What do you do after you pass the real estate exam in Illinois?

After passing the state exam you will need to become sponsored by a real estate managing broker within one year. Your managing broker will send the paperwork to the state (IDFPR) and issue you a 45-day permit—also called a Sponsor Card. That permit allows you to start practicing real estate immediately.

How many math questions are on the Illinois real estate exam?

Read all answers carefully before choosing one. Don’t worry about math questions. There are usually only 13 of them and your instructor will prepare you well for them. Relax and remember that your instructor knows what you specifically need to know in order to pass the state real estate exam.