Pre-Licensing Managing Broker

General requirements for obtaining a Managing Broker license

1. 21 years old
2. Good moral character
3. Need to be licensed at least 2 out of the 3 prior years as salesperson or broker
4. High school degree or its equivalent
5. 165 hours of pre-license education (120 are broker pre-license hours)
6. 45 more in the year before applying for managing broker’s license.
7. 30 of the 45 hours focused on brokerage administration and management. 15 hours in classroom or other interactive delivery method.
8. Take and pass course exam, then take and pass state exam
9. Application with sponsor card and pay fees
10. Illinois attorneys in good standing are exempt from the pre-license education requirements but not the state exam.Still need a license to act as managing broker.

45-hour managing broker pre-licensing classroom schedule MORe >

30-hour managing broker pre-licensing online course MORe >

15-hour managing broker pre-licensing interactive classroom course: COMING SOON!

Managing Broker license FAQs

Q: Does a broker who would like to sponsor themselves and open up a one person office need to hold a managing broker license?

A: YES. Brokers who would like to be self-sponsoring, sole proprietors must hold a managing broker’s license.

Q: Must a partner hold a managing broker’s license or can they hold a broker’s license?

A: Any partner who engages in real estate brokerage business in a licensed real estate partnership must be a managing broker or broker. In an LLP or LLC, any partners or members who engage in real estate brokerage must hold a managing broker or broker’s license. If a licensed real estate brokerage entity is owned by broker licensee(s), there must be a managing broker licensee in place to manage the real estate brokerage business of that entity.