This article contains the following sections:
- Residential Leasing Agent License Requirements
- Broker License Requirements
- Managing Broker License Requirements
Residential Leasing Agent License Requirements
A Residential Leasing Agent license is required for individuals performing leasing activities for a person or entity other than the property owner.
Leasing activities include:
- Leasing or renting residential property.
- Collecting rent for the use of a residential property.
- Attempting, offering, or negotiating to rent, lease, or collect rent for the use of a residential property.
To become a licensed Residential Leasing Agent, a person must do the following:
- Applicant be 18 years of age or older.
- Hold a high school diploma or GED equivalent.
- Complete a 15-credit hour Residential Leasing Agent Pre-License course at a real estate school approved by the Department of Financial and Professional Regulation (IDFPR).
- Pass state licensing exam.
- Complete application paperwork with sponsoring broker and apply to the state.
Broker License Requirements
A real estate Brokers license is required for individuals who represent prospects and owners in the sale, exchange, management, and leasing of residential, commercial, or industrial properties.
To become a licensed real estate broker, a person must do the following:
- Applicant be 18 years of age or older.
- Hold a high school diploma or GED equivalent.
- Complete a 75-credit hour Broker Pre-License course at a real estate school approved by the Department of Financial and Professional Regulation (IDFPR).
- Pass state licensing exam.
- Complete application paperwork with sponsoring broker and apply to the state.
Managing Broker License Requirements
A Managing Broker license is required for...
- Any self-sponsored licensee (any individual seeking to practice real estate brokerage as a sole proprietor sponsoring their own license must obtain the managing broker license.
- Any broker who has supervisory responsibilities for licensees in one or, in the case of a multi-office company, more than one office who has been appointed as a managing broker by the sponsoring broker.
- Managing Broker can sponsor other licensees, sponsor themselves, or be sponsored by a Managing Broker.
To become a licensed real estate Managing Broker, a person must do the following:
- Applicant be 20 years of age or older.
- Hold a high school diploma or GED equivalent.
- Complete a 45-hour Managing Broker Pre-License course.
- Pass state licensing exam.
- Must have an active Brokers license for two consecutive of the previous three years.
- Complete application paperwork with sponsoring broker and apply to the state.