Becoming a Commercial Broker

Imagine that one day you wake up intent on pursuing a career as a Commercial Real Estate Broker. Assuming that you have don’t have an existing license in escrow, there are a few steps you’ll have to take before you can call yourself a Broker. Even before that, there are minimal requirements you’ll have to meet to begin the process.

Minimal Requirements

Unlike some other professional fields, a college degree is not required. Minimal education level before training is a high school degree, or an equivalent degree (G.E.D.). In addition, you’ll need to be over the age of 21, which could force some applicants to wait a few years before beginning their Commercial Real Estate career.

Course Work
Shetlandblog6_studyingIf you meet the minimal requirements, you can go ahead and register for your 90 hours of pre-license training (pre-license training was tacked on to Broker training in 2011). The training, which must include 15-hours or interactive or webinar learning, will include a 75-hour Broker Pre-License Topics course and a 15-hour Broker Pre-license Applied Real Estate Principals Interactive course. You can also count on an additional 30-hours of post-license education.

To accommodate varying life and professional situations, The Illinois Association of Realtors and Licensing Training Center offers the courses online, at home, or in the classroom. If you’d like to study in the classroom, identify one of the 50 statewide locations nearest to you. The webinar format and different home study options cater to a person who’d like to hit the books outside of the classroom.

Course Exams

Illinois requires that Broker candidates be tested after each of their courses. The exams will be proctored, or chaperoned by an exam monitor, and may be taken at an approved proctor location. Students will have to call the Illinois Association of Realtors (IAR) to have their results sent to their approved location.

State Real Estate Exam

Once a Broker Candidate has completed all of their coursework and course exams, they are ready to register as a student and take the State Licenser Exam. Candidates can register as a new student at Applied Measurement Professional’s (AMP) website and then receive an AMP student ID. The IAR will connect with AMP to verify that you’ve completed your coursework and then you will be able to select and complete your real estate exam.

Apply for your License

After you’ve aced the state-licensing exam, you can pay the appropriate free and register with The Illinois Department of Financial and Professional Regulation to apply for your license. In order to begin practicing, you must register with (hang your license) under a Managing Broker.

Licensed Brokers can register on the Shetland’s website to register a user name and a password to have access to the Brokers’ section of the site.

Additional Education

Now that you’ve linked up with managing broker, you’ll need to complete the additional 30-hours of post-licensed coursework. The IAR suggests the 15-Hour Broker Post License Topics and the 15-Hour Broker Post License Applied Real Estate Practices courses to satisfy the 30-hours. But your education doesn’t stop there.

The great state of Illinois also requires Commercial Brokers to complete continuing education for during each two-year licensing period. Like the pre-licensing courses, continuing education (CE) courses are also available in different forms both inside and outside the classroom. The life of a Commercial Real Estate Broker is truly enriching, one where you never stop learning.