REAL ESTATE REAL ESTATE The Real Estate program at College of DuPage meets the needs of those who want to begin a career in the real estate industry. Illinois law requires students to complete 90 hours of education to qualify to take the Illinois Real Estate Broker exam administered by AMP, a private testing service. At College of DuPage, two required courses are REALE 1130, Real Estate Broker Pre-License Topics, a 75-hour class, and REALE 1131, Real Estate Broker Pre-License Applied Real Estate Principles, a 15-hour class. Real estate courses may be taken either for credit (applicable towards the Associate in A.G.S. degree program) or for non-credit through the Continuing Education division. The non-credit course numbers are Proed 1130 and Proed 1131. Students cannot take one class for credit and one for non-credit. Whether taken for credit or non-credit, successful completion of both courses qualifies students to sit for the Illinois Real Estate Broker’s License Examination. WHY CHOOSE COD? • Faculty members are licensed attorneys with more than 59 years of combined teaching experience, and 65 years of combined experience practicing in the area of real estate law. • Faculty are dedicated to helping students succeed, with interactive classes designed to help them learn the material necessary to pass the state exam. • In-person classes are available in the morning and in the evening to meet your schedule. • Students have access to additional resources for studying, including practice tests and lessons for the math review. • Receive six college credits for REALE 1130 and 1131 combined PROGRAM REQUIREMENTS Courses Required to Obtain an Illinois Real Estate Broker License Pursuant to the Illinois Real Estate License Act, in order to qualify to take the Illinois examination for the entry-level Real Estate Broker License, a person must take a real estate curriculum of 90 classroom hours. The curriculum, as mentioned, is divided into two courses. The first is 75 classroom hours and the second is 15 classroom hours. The first course is a prerequisite for the second course. Students must pass the final for both courses with a minimum score of 75 percent. There is a stringent attendance requirement for both courses mandated by the State of Illinois. Real Estate Broker Pre-License Topics Real Estate 1130 (credit) or Proed 1130 (non-credit) 5 credit hours Introduction to real estate topics including license law, real property, agency, seller and buyer relationships, state and federal laws, marketing and advertising, market analysis and appraisal, financing, contracts, employment agreements and career path. This is a required course to take the Illinois Real Estate Broker License Examination. (5 lecture hours) Broker Pre-License Applied Principles Real Estate 1131 (credit) or Proed 1131 (non-credit) 1 credit hour Application of real estate broker pre-license topics to the practice of real estate brokerage. Includes situational and case studies, role playing and demonstration of real estate activities. A required course to take the Illinois Real Estate Broker License Examination. Prerequisite: Real Estate 1130 with a grade of 75 percent or better, or equivalent or concurrent enrollment in Real Estate 1130. (1 lecture hour) LICENSE REQUIREMENTS Requirements for obtaining an Illinois Real Estate Broker License: • Be at least 21 years of age • Have a high school diploma or equivalent degree • Successfully complete the following required coursework (90 classroom hours): Real Estate Broker Pre-License Topics (75 classroom hours) REALE 1130 or Proed 1130 at COD; and, Real Estate Broker Pre-License Applied Real Estate Principles (15 classroom hours) REALE 1131 or Proed 1131 at COD • Pass the Illinois Real Estate Broker Examination REAL ESTATE FACULTY Carol CarlsonNofsinger, Lecturer in the Business and Technology Division, Real Estate Program Carol CarlsonNofsinger received her Juris Doctorate degree from Loyola University of Chicago School of Law in 1985 and has taught part-time in the Real Estate Program at College of DuPage since 1997. She brings her extensive experience practicing law in the areas of real estate, corporate law, and contracts into the classroom. In addition, as an active, contributing member of COD’s Real Estate Advisory Committee for 12 years, she has examined the changing role of the Real Estate Program and its goal to satisfy the growing needs of the community in providing a high quality real estate curriculum. Carlson-Nofsinger regularly teaches REALE 1130 and REALE 1131, the pre-license courses required before students become eligible to sit for the Illinois Real Estate Broker’s Examination and the Illinois Real Estate Leasing Agent Examination. Carlson-Nofsinger was selected as COD’s 2013–2014 Outstanding Part-time Faculty Award winner. Richard Lackner, Part-Time faculty in the Business and Technology Division, Real Estate Program Rich Lackner has been licensed to practice in Illinois for more than 35 years. He has extensive experience representing clients in residential and commercial real estate transactions. He has been licensed to teach pre-licensing and has been teaching at COD since 1985. He is a past recipient of COD’s Outstanding Part-time Faculty Award and has taught at other venues. Lackner has witnessed pre-licensing evolve from a 30-hour course requirement to the present-day 90 hours. He is known for interesting classes and for making the subject matter understandable. Students Comments: “I have attended two major Illinois universities and have degrees from both, including a master’s degree in education. Carol is one of the most outstanding professors I have ever encountered.” “My success in the class is largely due to Richard’s teaching style and his depth of knowledge in real estate.” “Mrs. Carlson is a great teacher. She makes herself available. If we had any questions, she took time to answer them. She genuinely cares about her students and is invested in everyone’s success.” “I now feel very prepared to not only take my state exam, but to begin my career in real estate.” FREQUENTLY ASKED QUESTIONS: 1. Can I get my license and go out on my own? Newly licensed brokers cannot practice real estate on their own without a sponsoring broker. Once brokers have had their license for two years, completed the additional managing broker course work, and successfully passed the state managing broker licensing exam, they can open their own offices and become self-sponsored managing brokers. 2. Can I apply for a real estate license without a Social Security number? No, you must have a Social Security number to apply for your broker’s license. 3. Is this the entry level requirement? Yes, in Illinois the Real Estate Broker license is the entry level license that allows you to practice real estate under the guidance of a sponsoring broker. 4. Do I have to take both REALE 1130 and 1131? Yes, you must complete the required 90 hours of education, pass each course with a minimum score of 75 percent and meet the state mandated attendance requirements. 5. Where can I get more information on the state exam? The Illinois Real Estate Broker Examination is administered by Applied Measurement Professionals Inc., www.goAMP.com, (800) 345-6559. 6. Where can I get more information on applying for a state license? Check with the Illinois Department of Financial and Professional Regulation, www.idfpr.com, (312) 793-3000. Students must pass both the National and Illinois parts of the Real Estate Broker Examination with a minimum score of 75 percent. 7. Do I get a transcript from COD? After you successfully complete the required courses with a minimum score of 75 percent on the final exam and meet the attendance requirements, you will be mailed a Uniform Real Estate transcript. The hard copy transcripts are not needed at the time you register with AMP, schedule the exam with AMP, or take the license examination. The transcript is only needed after you pass the license examination and apply for the broker’s license with the IDFPR. 8. Is there a special license issued by the State of Illinois for a property manager? The State of Illinois issues only the following types of real estate licenses: broker, managing broker, and leasing agent. Licensed brokers must work under a sponsoring broker while performing the tasks normally associated with property management. 9. If I successfully completed the 75-hour course somewhere other than COD, can I take the 15-hour Reale 1131 class at COD and earn my transcript for that course? Yes, with a transcript showing successful completion of the 75-hour course. 10. Is there an age requirement to take the Illinois Real Estate Broker Exam? Yes, you must be 21 years of age to take the Illinois Real Estate Broker Exam. 11. After successfully completing the state broker licensing exam, how long does a student have to get a sponsoring broker and apply for their license? One year. EMPLOYMENT OUTLOOK According to the U.S. Department of Labor Bureau of Labor Statistics, “One of the most complex and significant financial events in people’s lives is the purchase or sale of a home. Because of this complexity and significance, people typically seek the help of real estate brokers and sales agents.” Real Estate Brokers operate real estate offices, work for commercial real estate firms overseeing real estate transactions, sell real estate, rent properties and arrange loans. The housing market is showing growth which creates a continued need for those in the real estate field. Successful people in the real estate field are; creative, self-starters, problem solvers, detail oriented, active listeners, critical thinkers, independent and skilled in sales and negotiation. GETTING STARTED Visit our website at cod.edu/programs/real_estate/index.aspx. Consult with an advisor: Debbie Hasse, M.Ed., Program Manager Continuing Education Student Resource Center (SRC), Room 1111 (630) 942-2679 Bev Carlson, M.B.A., Program Support Specialist Business and Technology Division Berg Instructional Center (BIC), Room 1728 (630) 942-2140 BT-15-19487(9/15)250 425 Fawell Blvd. Glen Ellyn, IL 60137-6599 cod.edu