Question 1

What is the Illinois real estate exam passing score?

Accepted Answer

Illinois requires a 75% passing score on both the national (100 questions) and state (40 questions) portions. Total exam time is 3.5 hours. The exam is administered by PSI.

Question 2

How much does an Illinois real estate license cost?

Accepted Answer

Total startup costs range from $558 to $1,208: pre-license education ($300-900), exam fee ($58), application fee ($150), and background check ($50-100). Renewal is $150 every 2 years.

Question 3

What is Illinois 'Broker' vs 'Managing Broker'?

Accepted Answer

Illinois uses different terminology: 'Broker' is equivalent to 'salesperson' in other states (entry-level). 'Managing Broker' is equivalent to 'broker' elsewhere and can supervise other licensees. All Brokers must be sponsored by a Managing Broker.

Question 4

What is designated agency in Illinois?

Accepted Answer

Designated agency allows two licensees from the same brokerage to represent buyer and seller separately in the same transaction. Each agent can fully advocate for their client without creating dual agency.

Question 5

Are net listings legal in Illinois?

Accepted Answer

Unlike many states, net listings ARE legal in Illinois. However, they are strongly discouraged due to potential conflicts of interest and require full disclosure of the arrangement to clients.

Question 6

What's included for free?

Accepted Answer

All study guides, practice questions, and explanations are completely free. We also include 10 AI-powered questions daily. For unlimited AI assistance, you can upgrade to Pro.

Question 7

Why is the content free?

Accepted Answer

OpenExamPrep was founded by Ran Chen, a CFP® who passed multiple financial exams and believes quality exam prep shouldn't cost hundreds of dollars. With AI, we can create quality content at scale and make it accessible to everyone.

Question 8

Is the content up to date?

Accepted Answer

Yes! Our content is aligned with the latest exam outlines and updated regularly. Last update: January 2026.

Illinois Real Estate Broker

Free IL Real Estate Exam Prep

IL Real Estate Exam Details

Illinois Real Estate Broker Exam

Exam Content Breakdown

What's Included

4 Chapters

Practice Quizzes

Free to Start

Quality Exam Prep Shouldn't Cost Hundreds

What's Next After the IL Real Estate?

Real Estate Salesperson

CA Notary

IL Real Estate Exam FAQ

Course Content

Chapter 1: IDFPR & Licensing Requirements

Chapter 2: Illinois Agency Law

Chapter 3: Illinois Contracts & Disclosures

Chapter 4: Illinois Property Law & Fair Housing

Official Illinois Department of Financial and Professional Regulation (IDFPR) Resources

More Free Resources

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