Pre-Licensing Real Estate Classes and Curriculum
Before enrolling in any secondary education program, be sure that the education you are paying for is an education that you can get paid to use. The Illinois General Assembly does have requirements for pre-license Real Estate Schools and you are encouraged to investigate any potential educators' credentials and current licensing status. See the Resource section at the bottom of this page for more information on actively licensed Pre-License Real Estate Schools in Chicago, Cook County, and Illinois.
The Illinois General Assembly states that all pre-license schools must provide each of the following core courses:
Real Estate Transactions: 45 class hours- Brokerage Administration: 15 class hours
- Contracts and Conveyances: 15 class hours
- Advanced Principles 2000: 15 class hours
Pre-license schools must also provide at least two, or more, of the following elective courses:
- Appraisal shall consist of a minimum of 15 class hours. The course shall include instruction in the appraisal process, real property and value, economic trends, depreciation and land value.
- Property Management shall consist of a minimum of 15 class hours. The course shall include, but not be limited to, instruction in fundamentals of tenant-management relationship, property modernization, property maintenance, leases, real property insurance, commercial property, industrial property and advertising.
- Financing shall consist of a minimum of 15 class hours. The course shall include instruction in types of financing, sources of financing, mortgages, mortgage documents, closing a mortgage, interest, liens, foreclosure, real property insurance, mortgage risk, principles of property value for mortgage credit, mortgage analysis and construction loans.
- Sales and Brokerage shall consist of a minimum of 15 class hours. The course shall include instruction in qualifications and functions of a Real Estate broker; land utilization; appraisal principles and methods; office organization; selection, training and supervision of salespersons and office personnel; compensation of salesperson listings; prospects; Real Estate markets; financial control; and government regulations.
- Farm Property Management shall include a minimum of 15 class hours. The course shall include instruction in inventorying assets, determining method of operation, tenants, budgeting, crop and livestock production, marketing, tax planning and depreciation, government programs and regulations, insurance and ethics.
- Real Property Insurance shall include a minimum of 15 class hours. The course shall include instruction in risk, functions of insurance, insurance contracts, types and purposes of insurance.
This list may be appended with other courses, as approved from time to time by the Division. If additional elective courses are developed, they shall be approved by the Division prior to implementation. The courses shall be approved upon determination that the course is at least 15 clock hours (one clock hour equals 50 minutes) in length and constitutes Real Estate related material.
Resources
Pre-License Real Estate Schools: