Frequently Asked Questions
Real estate is fundamentally a customer service business that involves significant transactions in people’s lives. We recommend carefully assessing your career objectives and what you hope to achieve in your profession. Discuss these considerations with someone familiar with the industry to make an informed decision about whether a career in real estate aligns with your goals and aspirations.
Upon obtaining your license, numerous employment options become available. You can explore roles such as Residential & Commercial Real Estate Broker, Real Estate Property Manager, Leasing Agent, Real Estate Transaction Coordinator, Real Estate Assistant, Showing Assistant, Real Estate Investor or Entrepreneur, Real Estate Developer. After actively using your license for two years, you can aspire to become a Real Estate Managing Broker or Real Estate Instructor (note that some areas of real estate may require additional licenses).
Despite the prevalence of real estate websites, numerous real estate agents in Chicago and throughout Illinois are thriving. Realtors relish the freedom, independence, and ample opportunities the profession provides. While hard work is a given when you’re running your own business, the consensus among agents is that the real estate industry is highly rewarding.
Obtaining a real estate license in Illinois is a relatively straightforward process that takes approximately two months. This involves completing a 75-hour Pre-license Course, successfully passing the state exam, securing a Sponsoring Broker, and applying for the license. Once licensed, you can start selling real estate immediately.
An Illinois Real Estate License is valid for a period of two years. Real Estate Agents initially hold a Broker License, and after working with a Sponsoring Broker for at least two years, they have the opportunity to obtain a Managing Broker license. Renewal of the license is required every two years to ensure continuous compliance with state regulations.
No, we do not offer a guarantee. However, it’s noteworthy that over 90% of our students successfully pass the State Exam on their first attempt. This high success rate is a testament to our commitment to delivering a quality learning experience that effectively prepares individuals for the real estate licensing exam.
No specific degree is required to become a real estate agent. The essential educational requirements include completion of high school or an equivalent qualification and the successful completion of the 75-hour pre-license course from an approved real estate school.
According to Salary.com, the average annual salary for Real Estate Brokers in Illinois is $86,000. However, it’s crucial to note that real estate income is commission-based, meaning your earnings are contingent on your effort and the number of properties successfully sold.
Absolutely! Many individuals start their real estate careers on a part-time basis. The flexibility of the profession allows for a smooth transition, enabling agents to balance their real estate commitments with other responsibilities.
Real estate exams can be challenging, with an average pass rate of around 65% across the country. At DRG Real Estate Academy, we are committed to providing thorough preparation for the Illinois real estate exam as an integral part of the initial steps in your career.
The broker exam comprises one hundred multiple-choice questions for the national portion and forty multiple-choice questions for the state-specific portion. On the other hand, the managing broker exam includes ten simulation problems for the national portion and forty multiple-choice questions for the state-specific portion
You are allowed up to four attempts to pass the state exam. In case of failure, you have the opportunity to retake it three more times, within the constraints of the specific pass requirements.