How to Open a Real Estate Office in Illinios

It takes effort and preparation to open a real estate office in Illinois.

Opening your own real estate business in Illinois can be a rewarding personal and professional decision. Like any industry, real estate has its ups and downs. However, over the long term Illinois real estate is usually a stable market that can be counted on to create profits. Opening a real estate office in Illinois is potentially a good investment available to anyone at least 21 years of age willing to go through proper training.

Instructions

1. Complete pre-license 45 hours of basic transaction courses. If you already have a real estate salesperson license, you do not need to take these courses.

2. Attend and complete 75 hours of broker's courses at an approved real estate school. A list of approved schools can be found at the Illinois Department of Financial and Professional Regulation website at www.idfpr.com/dpr/re/realmain.asp

3. Take and pass the Illinois state real estate licensing exam.

4. Find and lease office space from which you would like to work. Consider location, rent, and size when deciding on office space.Open your office in or near Chicago if you want to sell commercial real estate.

5. Open your business. As a broker you are the main member of a business that sells real estate, and are able to hire others to sell for you. If you can handle the initial workload you do not need to hire an employee right away. When you do, consider hiring someone with office experience and a real estate license if you want your employee to participate in selling.

6. Market your new real estate business using business cards, a website and local listings. Consider street advertising (signs and benches) as well as mailers and newspaper ads to get the word out about your business. Encourage customers to recommend you to their friends for future listings.

References

• Illinois Association of Realtors
• National Association of Realtors
• Opening a Small Business