Who Needs An Illinois Real Estate Leasing Agent License

Who Needs An Illinois Real Estate Leasing Agent License

In Illinois, a licensed leasing agent is not equivalent to being a licensed property manager. Leasing or renting property for another and for compensation is defined as a licensed activity that requires a sponsoring real estate broker’s license. Typically, the sponsoring broker is the real estate brokerage firm and this is the type of license required in order to be a “property manager.” 

The Illinois leasing agent license is a limited license that applies to the leasing of residential property only. Every applicant for licensure as a leasing agent must meet the following qualifications. 

  • Be at least 18 years of age

  • Be of good moral character

  • Have obtained a high school education or GED

  • Complete 15 hours of Illinois licensed education

  • Personally take and pass an Illinois state exam

  • Apply for a license through a sponsoring broker 

A licensed property manager is a business entity that provides licensed activities for another and for compensation. A residential property manager employs the services of licensed real estate brokers or leasing agents to provide leasing services for the consumer. 

Property owners or employees of property owners are not required to be licensed when they manage the property that they own.

15-hour Leasing Agent Class 

Source: The Illinois Real Estate License Act

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