REAL ESTATE BROKER FAQ’s
What are the requirements to obtain a Real Estate Broker’s License?
1. Be at least 18 years old
2. Have graduated from high school or obtained a GED
3. Complete a state approved 90-hour Real Estate Broker Pre-License class with 75 hours classroom or an equivalent home study course and 15 hours of mandatory classroom instruction. 30 hours of post-license education is also required.
4. Be of good moral character–no delinquent child support, no delinquent state income tax or delinquent student loan payments and no felony convictions.
5. Pass the State License Exam
How do I schedule the State Exam?
Once you complete the pre-license course, the School will send notification of your completion electronically to the IDFPR. The license candidate must contact the testing company, Applied Measurement Professionals (AMP) to schedule an examination appointment. Appointments for license testing can be made: online www.goamp.com or by phone, fax or mail. AMP’s phone number is 1-800-345-6559.
What is the fee for the State Exam and what do I need to bring with me?The fee for the State Exam is $46.00. You’ll need to make sure you have two forms of identification–one MUST be a photo ID. A photograph and a fingerprint scan photograph will be taken at the testing site. You will need a calculator for the Exam. The testing Center does NOT provide a calculator and will NOT allow you to use your cell phone as a calculator for the test. Calculators cannot be programmable in any way and if they are AMP will NOT allow them to be used.
How is the State Exam given?
The State Exam is computer based. It is an all multiple choice exam and a passing grade is 75%. You will be given a notice of whether you passed or failed immediately.
What happens next after I pass the State Exam?
After passing the state exam you will need to become sponsored by a real estate managing broker within one year. Your managing broker will send the paperwork to the state (IDFPR) and issue you a 45-day permit—also called a Sponsor Card. That permit allows you to start practicing real estate immediately. Within 45 days, the State will send your license and pocket card to your home. You’ll bring the license to your managing broker to be displayed in the office and carry the pocket card whenever you’re practicing real estate.
What happens if I don’t pass the State Exam?
The exam may be taken four times. The fee is the same for each time. If, for some reason, you don’t pass after the fourth attempt, you must retake the pre-license course.
When does my new License have to be renewed?
Licenses are renewed every two years and after the first renewal, you will be required to complete 12 hours of Continuing Education before you can renew.
Is there ongoing education required?
Yes. Brokers who want to renew their license must complete 6 hours per year of real estate CE courses. Licensees who receive their initial broker license less than 90 days prior to the renewal date do not have to complete continuing education for their first renewal.