Applicants for real estate licenses are subject to appropriate fees in addition to the testing fee paid to AMP when applying for the examination. The Illinois Real Estate License Act of 2000 provides for predetermined licensing fees.
- the leasing license initial fee is $75.
- broker initial license fee is $125.
- Managing broker initial fee – $150
- initial broker’s license fee for a partnership, LLC, or corporation is $125.
Included in the initial license fees are a Real Estate Recovery Fund fee of $10 arid a Real Estate Research and Education fee of $5. Other licensing fees are indicated in the rules and are set according to actual cost incurred by the Department and may vary.
Returned check penalties and failure to pay (Section 20-25) Anyone who delivers a check or other payment to the Department that is returned for insufficient funds must pay a returned check fine of $50, plus the amount originally owed. If the licensee fails to make full payment of all fees and fines owed within 30 calendar days of the notification that payment is due, the Department will automatically terminate the license or deny the application without a hearing. The licensee may apply for restoration or issuance of the license and pay all fees and fines due the Department.
- Leasing agent – $100
- Broker – $150
- Managing Broker – $200
|License Renewal Dates|
|•||Broker:||April 30, even years|
|•||Leasing agent:||July 31, even years|
|•||Real estate businesses:||October 31, even years|
|•||Managing Broker:||April 30, odd years|