IL Real Estate Pre-License – Prospect FAQs

Q: Is Real Estate Institute approved by the IDFPR as a Pre-License school?

A: Yes. Real Estate Institute is approved by the Illinois Department of Financial and Professional Regulation. Education Provider #515.000001. We offer courses required as prerequisites for the Leasing Agent, Broker, and Managing Broker licensing examinations.

Q: What makes your school different from the others?

A: Our quality programs, dedicated and knowledgeable instructors, and outstanding service set our school apart. When you complete our course, you will have all the knowledge to pass the state examination. Quizzes for each homework lesson allow students to see how they are doing as they progress through the course. Along with the reinforcing tools included in our programs, qualified instructors are available to provide additional assistance.

Real Estate Institute offers students these additional resources for one simple reason: we want you to pass the state examination!

Q: Does your school offer financial aid, or can I pay the course tuition over time?

A: We have partnered with Affirm, which offers financing options that enable our students to enroll today and pay later. This extends our traditional payment options, such as credit/debit cards and cash.

Q: How soon after enrolling in the program will I receive my course materials?

A: Students will have immediate access to online course materials online upon enrollment. 

Classroom Students: A printed copy of the textbook is provided on Day 1 of class. Students also have immediate access to a PDF version of the textbook in their Student Portal.
Webinar/Online Students: A textbook will be shipped via USPS mail. Students will also have immediate access to a PDF version of the textbook in their Student Portal.

Q: Do course registrations expire?

All courses expire six months after the date of enrollment. In some cases, expired Pre-License course enrollments may be extended for a fee within a year of original enrollment. Courses cannot be extended beyond the 1-year anniversary of the original enrollment.

Q: Do your courses include instructor support?

A: Yes. This is an area where our school stands out. Students in our real estate Pre-License programs are strongly encouraged to call for one-on-one instructor assistance throughout the program. This one-on-one support is available to all students, including those who attend our classroom programs. We are committed to each student's success!

Q: What is your pass rate of students passing the state exam?

A: Overall, in Illinois, the overall pass rate (which includes all schools) is less than 50% on the first attempt. Students who completed a program with Real Estate Institute typically score about 20% above that average and even higher during some months..

Q: Do you offer a success guarantee?

A: Any students who completed and passed our Broker Pre-License program will get a success guarantee. This allows students to re-enroll in our program at no cost if they passed our course and unfortunately failed all four attempts in the state exam.

Q: Must I be a citizen of the United States or Illinois to hold a real estate license in Illinois?

A: No. To hold an Illinois real estate license, the state requires that you meet the age and education requirements, have a social security number, and be of good moral character.

Q: Where can I find more information about Illinois real estate licensing?

A: You will find a wealth of information throughout our website and frequently asked questions. Additional information may be available directly at the Illinois Department of Financial and Professional Regulation's website.

Q: What requirements changed on February 1, 2020, for the real estate Broker Pre-License education?

A: In late 2019, the Illinois Real Estate License Act was amended with essential changes.  The education requirement for Broker license candidates was reduced from 90 to 75 credit hours.

From this date forward, all students who enroll in a Broker Pre-License program must complete a 75-credit-hour program that consists of two mandatory courses:

  1. Broker Pre-License Topics - 60 Credit Hours (Formerly 75 Credit Hours)
  2. Broker Pre-License Applied Real Estate Principles - 15 Credit Hours

Q: Where can I find the course to become a Real Estate Salesperson?

A: The entry-level license to perform activities related to the sale or leasing of any property, including residential, commercial, industrial, etc., is a Real Estate Broker license. Before 2011, the title of this license was called Real Estate Salesperson. There is no longer a license titled Real Estate Salesperson in Illinois.

Q: What is the difference between a Broker license and a Managing Broker license?

A: All individuals seeking to become a real estate licensee in Illinois for the first time (other than those dealing only with residential real estate leasing) must apply for a Real Estate Broker license.

After holding a Broker license for at least two years, licensees may elect to complete additional Pre-License education and apply for a Managing Broker license. Managing Brokers are permitted to perform all the same activities as a Broker but may choose to sponsor their license or those of other licensees (Leasing Agents, Brokers, and Managing Brokers).

Q: Why would I choose the Broker license over the Residential Leasing Agent license?

A: Individuals who hold a Leasing Agent license are restricted to performing only leasing activities for residential properties. Individuals who have a Broker license may perform activities related to leasing or selling any property, including residential, commercial, industrial, etc.

Articles in this section