Cost To Get Real Estate License In Illinois
Real estate is a lucrative business, and many people aspire to become real estate agents. However, before you can start selling houses, you need to get a license. The cost of getting a real estate license varies from state to state, and in this article, we will discuss the cost of getting a real estate license in Illinois.
Pre-License Education
The first step in getting a real estate license in Illinois is completing the pre-license education. You need to take 75 hours of pre-license education, which includes 60 hours of classroom instruction and 15 hours of interactive training. The cost of pre-license education can vary, but you can expect to pay between $300 and $500.
Real Estate Exam
After completing the pre-license education, you need to pass the real estate exam. The exam fee is $55, and if you fail the exam, you need to pay $55 for each retake. You can take the exam at one of the approved PSI testing centers in Illinois.
License Application
Once you pass the real estate exam, you need to apply for your license. The application fee is $125, and you must also pay $25 for the Illinois Real Estate Recovery Fund. The fund provides compensation to clients who have suffered financial losses due to the actions of licensed real estate agents.
Post-License Education
After you receive your license, you need to complete post-license education. You need to take 30 hours of post-license education within the first year of getting your license. The cost of post-license education can vary, but you can expect to pay between $200 and $300.
Continuing Education
Real estate agents in Illinois are required to complete continuing education every two years to renew their license. You need to take 12 hours of continuing education, which includes 6 hours of core coursework and 6 hours of elective coursework. The cost of continuing education can vary, but you can expect to pay between $100 and $200.
Conclusion
In conclusion, the cost of getting a real estate license in Illinois can vary depending on several factors. However, you can expect to pay around $800 to $1,000 for pre-license education, exam fees, license application, post-license education, and continuing education. Becoming a licensed real estate agent in Illinois can be a rewarding career, and the cost of getting a license is a small investment compared to the potential earnings in the industry.