Information

Take control of your future with an exciting career that provides flexible hours with unlimited earning potential.

The real estate industry has evolved into a highly specialized discipline and integrates other specialties such as marketing, geography, economics, finance, sociology, political science, art and law . You can decide to help people buy and sell property, relocate, sell or develop land. In addition, real estate professionals are typically involved members of their communities helping to promote the overall well-being of the community.

As a real estate "selling" broker you are affiliated with a sponsoring broker. With more courses and upon passing an additional exam, you can become a real estate manag¬ing broker. As a managing broker you could manage the company that engages in property sales or rentals and have the opportunity to employ other brokers. Brokers may make sales presentations, identify suitable properties, conduct open house tours, identify sources of financing and coordinate the sales or rental transaction. However, brokers affiliated with a sponsoring broker may do so only on behalf of that one sponsoring broker.

Your opportunities are endless with a career in real estate. Choose a specialty that suits your style.

Residential Brokerage

This part of the industry helps people buy, sell or rent residential real property. Agents try to sell or rent property within a reasonable time period and at a fair price. They search for property desired by a client, also at a fair price. Buyers and sellers use agents because they are experts in the process of buying, selling and renting property, including financing and negotiating, and they save the clients time and money by facilitating the transaction. They also have access to a wider selection of properties and can expose a home to more buyers or renters.

Commercial Brokerage

Individuals who work in commercial real estate specialize in income-producing properties such as apartments and office buildings, retail stores, shopping centers and industrial parks. Commercial brokers can assist you in determining if a property is a good investment or in the leasing and manag¬ing of commercial properties.

Appraiser

Appraisers provide expert opinions as to the value of prop¬erties. Real estate is appraised to determine many types of values, be it assessed value for tax purposes, insured value, book value for accounting purposes, present value for potential investors or rental value for income projections. They evaluate all factors that affect the potential use of the property at present and in the future. A separate license is needed here.

Farm and Land Brokerage

Land brokers not only deal with land for farming and recre¬ation, they also deal with land for residential, commercial, and industrial expansion. Land brokers analyze the income potential for properties and determine a farm's capacity to produce based on their knowledge of agriculture and the market.

Land Developer

Land developers attempt to put land to its most profitable use through the construction of improvements. They orga¬nize and supervise the project from the acquisition of land all the way through construction and final sale, including site selection, planning and layout, and financing.

Urban Planner

Urban planners work with local governments and other civic groups to develop productive and convenient ways to use land and water resources for urban renewal projects. They influence many aspects of community life as they try to accommodate the city's future growth.

Professional Real Estate Assistant

Many real estate brokers choose to hire a personal assistant to help them become more organized and efficient. Real estate assistants provide support including client follow-ups, preparing for listing presentations, coordinating schedules, marketing, performing clerical duties and more. Assistants can be licensed or unlicensed, but are limited in the ser¬vices they can provide if not licensed.

Licensing Requirements

As with many other professions, education and licensing are required. In order to obtain your real estate license in Illinois you must:

• be at least 21 years old and a high school graduate or equivalent;
• have successfully completed the pre-licensing education requirements;
• be sponsored by a sponsoring broker; and
• have passed the state exam authorized by the Illinois Department of Financial and Professional Regulation.

Illinois is one state that mandates continuing education (CE) for its licensees. Licensees must complete and pass CE courses at the rate of six hours per year every two years in order to maintain their licenses. These courses keep real estate professionals current on topics such as ethics, agency, legal issues, license law, antitrust and finance. The Illinois Association of REALTORS® and many local REALTOR® associations, offer a variety of pre-license and continuing education courses.