Illinois License Law
An Illinois broker who wishes to operate their own brokerage must first:
ARegister as an LLC with the Illinois Secretary of State
BObtain a managing broker license✓ Correct
CComplete an additional 30 hours of education
DReceive approval from the local real estate board
Explanation
To operate their own brokerage in Illinois, a broker must first obtain a managing broker license. The managing broker license requires additional education (120 hours pre-license), experience, and passing an additional exam.
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Key Terms to Know
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State-Specific Concepts
Broker Supervision
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