Real Estate Agent Permit Requirements in Chicago, IL

1. EIN (Employer Identification Number)

   Required if you operate as an LLC, corporation, or have employees. Free from the IRS. Even sole proprietors may benefit from obtaining an EIN to keep business and personal finances separate.

   Official government source

   Free·Immediate (online application)

   Free

   Immediate (online application)

1. Illinois Real Estate Broker License

   Illinois requires real estate broker licensees to complete 75 hours of pre-licensing education (including a 15-hour Applied Real Estate Principles interactive course), pass the Illinois Real Estate Broker Examination, and apply to IDFPR's Division of Real Estate. Licensees must affiliate with a sponsoring broker. Managing Broker is a separate, higher-tier license requiring active Broker experience plus additional coursework and a separate exam.

   Official government source

   IDFPR does not publish real estate license and examination fees on its Division of Real Estate pages -- confirm current application, examination, and license fees with IDFPR. Pre-licensing course tuition is charged by private approved schools, not the State, and varies.·Varies with how quickly you complete the 75 hours of pre-licensing education and sit the examination; IDFPR publishes no processing time for the application

   IDFPR does not publish real estate license and examination fees on its Division of Real Estate pages -- confirm current application, examination, and license fees with IDFPR. Pre-licensing course tuition is charged by private approved schools, not the State, and varies.

   Varies with how quickly you complete the 75 hours of pre-licensing education and sit the examination; IDFPR publishes no processing time for the application

2. Errors & Omissions (E&O) Insurance

   Illinois does not statutorily mandate Errors & Omissions insurance for real estate brokers under the Real Estate License Act of 2000 (225 ILCS 454) — the Act contains no insurance requirement. Most brokerages nonetheless require agents to carry E&O coverage as a condition of affiliation; it protects against claims of negligent acts or omissions in real estate transactions, and coverage typically starts at $100,000 per occurrence. Confirm your specific brokerage's requirement directly.

   Official government source

   Private insurance, not a government fee — premiums vary by carrier, coverage limits, and transaction volume; commonly a few hundred dollars per year when purchased through a brokerage's group policy·1–5 business days to bind coverage with an insurer

   Private insurance, not a government fee — premiums vary by carrier, coverage limits, and transaction volume; commonly a few hundred dollars per year when purchased through a brokerage's group policy

   1–5 business days to bind coverage with an insurer

1. City of Chicago - Real Estate Brokers Exempt from City Business License

   The City of Chicago's published business license exemptions list names Real Estate Brokers among the IDFPR-licensed professions that do not require a Chicago business license, so an agent or a brokerage whose activity is covered by the state license needs no separate city license. The exemption is limited to the licensed activity: if the establishment offers additional business activities that the IDFPR license does not cover, a Chicago business license may then be required. Individual brokers and managing brokers remain licensed by the Illinois Department of Financial and Professional Regulation. Questions: 312-744-6249 or [email protected].

   Official government source

   No city license fee for the exempt real estate brokerage activity·Not applicable

   No city license fee for the exempt real estate brokerage activity

   Not applicable

Official Sources

• Illinois DFPR — Real Estate
• Illinois DFPR — Real Estate

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