Posted by Inland Real Estate School | Filed under Programs
Illinois law requires the student complete 90 hours of education to qualify for the Broker License. This is an entry level license that allows the licensee to perform real estate related functions on behalf of the consumer, under the guidance of a managing broker. After the educational component is completed successfully, the licensee must pass the state exam in order to receive their Broker license.
This course fully prepares the licensee for the
specific objectives tested on the state exam.
The program is offered in two stages:
- 75 hour topics program focuses on the theory behind real estate principles and law. The student will gain an understanding of the complexity yet simplicity of real estate law which impacts real estate and the consumer. The areas of concentration include, but are not limited to:
- Agency law – What are the guidelines that must be followed when representing the interests of the client?
- Contract law – What are the aspects of a contract? How does a contract impact the transfer of ownership?
- Deeds and conveyances – What are the methods of taking ownership of real estate?
- Finance – What are the current financial issues impacting the purchase of real estate?
- Appraisal – What does an appraiser have to consider when establishing the value of real estate?
- Additional areas include environment, construction, closing, property management and commercial real estate.
The 75 hour program can be completed in a classroom, home study or online. Home study and online programs allow students to schedule their progression to fit their lifestyles and personal obligations. When electing to complete the 75 hour program by home study or online, the program must be completed within 6 months from the date of registration. Failure to meet this time frame will require that the student re-register for the program.
Completion not only includes working through the material, but also successfully completing 12 online practice exams as well as a 125 question proctored exam with a minimum score of 75%. The home study/online final exam can be completed either at the Inland Real Estate School office or at an alternative location under the oversight of an approved proctor. Arrangements for the utilization of a proctor must be coordinated through the school office.
- 15 hour interactive program, under the Illinois Real Estate License Act of 2000 must be completed in a live classroom or web-based interactive environment providing for two-way communication between student and instructor. Participants interact together to apply the theoretical aspects of the law learned during the 75 hour pre-license topics course to case studies. Through the use of near-life scenarios, the student gains a deeper understanding of the original intent of the law and the direct impact to the consumer. At the conclusion of the interactive component, there is a 25 question proctored final exam that must be completed with a minimum score of 75%.
Before being allowed to schedule the state exam, each licensee must successfully complete the required 90 hours of education and have passed the online practice exams and both final exams with a minimum score of 75%.
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|90 Hour Package||$649.00||$599.00||N/A|
|75 Hour Topics Only||N/A||N/A||$444.00*|
|15 Hour Interactive||$169.00||N/A||N/A|
|*Add $55.00 for hard copy textbook.|
90 hour tuition includes the complete 90 hour program (Topics and interactive).
Home study and online students must call the school office to schedule the Topics final examination.
Online participants must also make arrangements with the school office to register for the 15 hour interactive component after passing the Topics final examination.
Classroom presentations are subject to minimum enrollment.