If you are in the state of Illinois and you are someone who wants to get started in real estate, then you are probably considering  getting an Illinois real estate license. And I commend you for doing so. I found out a couple of years ago that having a real estate license sure does make so much easier to invest in property, and can make a person quite a bit of income as well. While most of the money I make in real estate is in property management, there are many, many agents out there that just make a killing just for bringing buyers and sellers together. They’ll often take 6% of the purchase price when they do this.

When you get your Illinois real estate license, then you’ll be the one to collect those commissions!

But I am sure you already know what I am talking about. So let’s look at some of the drawbacks of getting your license.

First of all, there is an education requirement. Not to worry though, you can easily fulfill this requirement online. Once this is done, there will be some fees and an application, then you’ll have to take a test. After the initial licensing period, there will be some required continued education. Last, you’ll have to start out under a sponsoring broker, who will have an agreement with you for a piece of the money you make off your deals.

But look at the flip side of it. Let’s say you do get your license, and you land just ONE deal. In that one deal, you sell a house for $140,000. Now let’s say that out of that sale, you end up having to split the commission with a buyer’s agent, and your broker, and you only end up making 1.5%.

You still made $2,100!

And altogether, your education and fees won’t be more than just a few hundred bucks.

How great is that?

You do just one deal, and make over 4 TIMES the cost of your license!

I think you can see how powerful it can be to have a real estate license. This is exactly what attracted me, and why I became a licensed real estate agent. Now I can buy my properties for less, can buy and sell houses for clients, and can manage property for clients as well. And I make some significant money doing this, and I only do it part time!!

So if you are think about whether you should do it or not, I would definitely move forward and get your Illinois real estate license.

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Here are the specifics when it comes to exactly what you need to do to get your license (the Illinois real estate license requirements, if you will). Now, I’m not an attorney, and you can read the full state law here, but the following is a quick summary of what requirements you’ll need to meet:

1. Be at least 21 years old.
2. Have a high school diploma or equivalent
3. Pass all of Illinois’ required real estate education courses.Currently the requirement is 45 hours of instruction in approved courses, and a minimum of 15 of these hours must be in the areas of Article 15 of the Act (agency), disclosure and environmental issues, or any other current topic as determined by the Education Advisory Council.
4. Pass the Illinois Real Estate Salesperson Examination.
5. Pay an Initial Real Estate Salesperson License fee, currently $125.
6. Submit a completed Sponsoring Broker Responsibilities Brochure.

As I just mentioned, there is a fee involved to file your application, and it is currently $125. Along with that, the coursework can be done online at a cost of less than $200. So all together you can fulfill your Illinois real estate license requirements for about $350 or less.

Does that sound like a lot of money?

Well again, just think about doing one deal $100,000 and getting 6%. That would be $6,000! That more than pays for the fees and hassle of getting the license. And you can do deal after deal after deal.

I use my license all the time. I do buying and selling, and I have a property management business. So without a license, none of this would be possible, and I would be giving up hundreds of dollars each month and thousands of dollars in lost buyer/seller transactions.

And the best part is – I do all of this on a part time basis! The main thing I like to do is help people like you online.

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If you are anything like me, you are probably looking for the simplest, quickest, approved way to get your license. And now that I have my license, I know a little bit about how it works, and what schools are out there to help you get your Illinois real estate license.

Now I know I used the words “simplest” and “quickest”. While you can get your license relatively quickly (I had my pre-licensing education done in a matter of about 2 weeks), it’s not an overnight deal. It will take a little a time.

But if you are serious about it, and really want to get your Illinois license, I would recommend starting by completing your education requirements with this online school.

Believe me, they are an approved online education provider, and their rates are very reasonable. Also, they have several packages that tailor just to Illinois real estate license seekers, from a bare-bones package, to one that includes a pass or don’t pay guarantee. You’ll be well on your way to real estate success.

Click here to check it out.

You could (if anyone still wants to do this) find local classes at a college or something, and complete your requirements that way. But then you’ll have to make sure the classes will count, and you’ll have to go through several months of classroom instruction.

I don’t know about you, but I sure like the idea of being able to go to an Illinois real estate license school online. I mean being able to sit on the couch and take classes in comfort, and be able to do them anytime I want, even at 2 AM, that is my kind of school!

But don’t take my word for it. You should make up your own mind. Online or offline? As for me, I choose online.

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So if you are here, then you have completed all of the required Illinois real estate license education, turned in your application, paid all the fees, and are ready to take the Illinois real estate license exam. Now I know that there are probably other real estate agents out there, maybe even some that you know, that would say that it is not possible to pass the exam on the first attempt. Let me tell, you ABSOLUTELY can pass it the very first time you take it.

How do I know?

Because I have a license, and I passed the test on my first try. You can do the same thing. And I have put together these exam tips that can really help you to pass the test.

Let’s look at them together:

1. Make sure that you wake up early on the exam date. Get a good breakfast, coffee, etc. and head to the test center early. This will cut down on stress, as you won’t be worried about being late to the testing center.

2. Take some deep breaths, focus, and tell yourself over and over again that you WILL be passing this test. This confidence can really help you.

3. Check with the testing administrator about how much time you will have to take the test and how many total questions there are on it. Do a quick division to see just how much time you have for each question on the test.

4. Be aware of this per question time limit. If you find that a question is just taking too much time, give it a guess, and move on. Jot the question number down on a scratch sheet of paper, so you can revisit the question later.

5. Make sure to carefully read each question in its entirety. At times you’ll find small words like “no” and “not” which totally change the meaning, and thus the answer. Don’t let the test writers fool you!

6. Use a little deductive reasoning. Try to mark out answers that don’t make any sense, and get it down to 2 or 3 answers that could possibly be right. Two possible right answers gives you a 50-50 chance of getting the question right.

7. The last and most important tip. ANSWER EVERY QUESTION! An unanswered question is most assuredly a wrong answer.

If you really put your mind to it and you use these exam tips, you’ll be putting yourself in the best position possible to pass the test on the first try, and get that license. So study your Illinois real estate license courses hard, use these tips, get your license, and go out there and start making and saving some cash in real estate!

If you have any comments or suggestions, please leave them in the comments area of any of my blog posts.

Thanks and best of luck!

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