What is the difference between the terms "Real Estate Agent" and "Broker"?
There actually is not a difference between these terms! Back in 2012, the State of Illinois changed the terminology, and what used to be known as a “Broker” is now called a “Managing Broker”. The first license you get is officially known as the “Real Estate Broker’s License”.
What requirements must you meet to become a Real Estate Broker?
There are four requirements you must meet:
- Have a U.S. social security number
- Be at least 21 years old
- Be of “good moral character” (no criminal history)
- Have graduated High School or equivalent
For more information about this, click here.
How much money should a Real Estate Broker expect to make?
Last year, Indeed.com reported that on average Real Estate Broker’s made $90,000 per year. Now, this is an average and since your salary will be completely commission based, there is both the possibility to make less and the possibility to make a whole lot more. With Real Estate, YOU determine how much you make!
Can you work part time as a Real Estate Broker?
Absolutely! In fact, many agent’s start out part-time.
Is there a final class exam?
On January 1st, 2018 IDFPR changed their requirements so students are no longer required to take and pass a final course exam. Once you complete the course, you have fulfilled all of IDFPR’s requirements and are eligible to take the state licensing exam. Students no longer have to pass a course final exam to be eligible for the state licensing exam. That being said, Chicago Real Estate School wants to ensure that you are well prepared for the state exam so we still encourage all students to take what used to be our course final exam as a “practice exam”. This will allow you to test yourself on how well you know the information. The practice exam is offered online and a link is sent out to all students at the end of each course.
Why is the CRES Classroom Course only 35 hours? Will I have to study the other 55 hours at home?
The state calls the course the “90 hour course” because it should take the average person about 90 hours to learn the material. However, the state only requires that you spend 15 hours in a classroom. At CRES, we have expanded that 15 hour requirement to 35 hours of classroom time for our classroom course. After years of experience, we have found that 35 hours is the optimal amount of time to spend in a classroom learning the material from an instructor. Any more than that, and the instructor would just be reading the textbook to you. We think your time is too valuable for that! With 35 hours of classroom instruction and time spent out of class taking the provided quizzes and studying the text, you will be successful! In fact, over 90% of our students pass the Illinois Real Estate Exam on their FIRST TRY!
How long will it take to complete the course?
We have 3 different formats for taking the course:
- Online course – self paced with no time limit
- 5-week in classroom course
- 2-week in classroom course (accelerated course)
Students in all versions of the course are very successful and the price for all of the different versions is the same. For more information about our course formats, click here.
How much is the course at Chicago Real Estate School?
Our pricing is the same for all of our course formats and we have three packages to choose from. They range in price from $559-$599. All of the packages include the basics for the course (your textbook and class materials), but the larger packages include valuable study material. You can read about exactly what the packages include here.
For the online course, the price of the course is broken up into two parts; $409-$449 for Part I and $150 for Part II. You can read more about the online course here.
Is there a payment plan?
Yes, we do have a payment plan! Watch out for other school payment plans that charge as much as 30% interest – ours is a one-time fee of $20, that’s it!
For the classroom course, the price of the course will be broken up into 3 payments: $199 on the day you register, $200 on the first day of class, and $180-$220 (depending on the package you purchase) halfway through the class.
For the online course, the price is also broken up into 3 payments: $199 on the day you register, $230-$270 (depending on the package you purchase) two weeks after signing up, and $150 on the day you sign up for Part II of the course.
To read more about the payment plan, click here.
When are the classes offered?
With between 1 and 4 classes starting every week, we have a lot of options for you to choose from! We have morning, evening, and Saturday classes. To see our full schedule for the next few months, click here.