Illinois Leasing Agent vs Broker: Which Real Estate Career Path is Right for You?

Quick Answer: Illinois leasing agents focus on rental properties, require 15 hours of education, and earn between $35,000 and $45,000 annually. Real estate brokers handle rentals and sales, require 75 hours of education, and earn $50,000-$120,000+ with potential for high commissions.

---

Starting a real estate career in Illinois? You have two main entry points: becoming a leasing agent or going straight for your broker license. While both offer solid opportunities in Illinois's diverse real estate market, they require different time investments, education levels, and offer distinct earning potential.

This guide breaks down the key differences between Illinois leasing agents and brokers, helping you choose the path that aligns with your career goals, timeline, and financial expectations.

What Does an Illinois Leasing Agent Do?

Leasing agents specialize in the rental market, helping tenants find apartments, condos, and rental homes while working with landlords to fill vacancies. Your daily responsibilities include:

• Property showings and tours for prospective tenants
• Application processing and tenant screening
• Lease preparation and explaining rental terms
• Market research to price rental properties competitively
• Customer service for current tenants and property owners

Leasing Agent Requirements

Age: 18 years minimum

Education: 15 hours of pre-licensing coursework

Exam: Pass the Illinois leasing agent state exam

Sponsorship: Must work under a managing broker

Renewal: Every 2 years with continuing educationIllinois Real Estate Continuing Education

Timeline: Most people complete the process in 2-4 weeks

Annual Salary Range: $35,000-$45,000 (often salary plus bonuses)

Pros and Cons of Being a Leasing Agent

Advantages:

• Quick entry into real estate (minimal education required)
• Lower upfront costs
• Steady income potential
• Great stepping stone to a brokers license
• Learn the business with less financial risk

Disadvantages:

• Limited to rental properties only
• Lower earning potential than brokers
• Must work under supervision
• No commission on property sales

What Does an Illinois Real Estate Broker Do?

Real estate brokers can handle both rental and sales transactions, representing buyers and sellers in property purchases. Your responsibilities include:

• Listing properties for sale and marketing them effectively
• Working with buyers to find and purchase homes
• Negotiating contracts and managing transaction details
• Coordinating closings with lenders, attorneys, and other professionals
• Building client relationships for repeat business and referrals

Broker License Requirements

Age: 18 years minimum

Education: 75 hours of pre-licensing coursework (includes 15-hour interactive component)

Exam: Pass both state and national portions of the broker exam

Sponsorship: Must work under a managing broker

Post-licensing: 45 hours of additional educationIllinois Post Licensing Real Estate Continuing Education required within the first two years

Renewal: Every 2 years with 12 hours of continuing educationIllinois Broker Real Estate Continuing Education

Timeline: Most people complete the process in 2-4 months

Annual Salary Range: $50,000-$120,000+ (commission-based, highly variable)

Pros and Cons of Being a Broker

Advantages:

• Unlimited earning potential through sales commissions
• Can work in both rental and sales markets
• More career advancement opportunities
• Potential to become a managing broker or open your own firm
• Higher professional status and recognition

Disadvantages:

• Longer education requirement (75 vs 15 hours)
• Higher upfront costs and ongoing expenses
• Income can be unpredictable, especially starting out
• More complex licensing and renewal requirements

Head-to-Head Comparison: Leasing Agent vs Broker

Career Progression: From Leasing Agent to Broker

Many successful Illinois real estate professionals start as leasing agents before upgrading to broker licenses. This path offers several advantages:

The Upgrade Process

If you're already a licensed leasing agent, you can upgrade to a broker license by:

1. Completing the additional 60 hours of broker education (75 total minus the 15 you already have)
2. Passing the broker exam
3. Meeting all broker licensing requirementsIllinois Broker Real Estate LicenseIllinois Broker Real Estate LicenseIllinois Broker Real Estate License

Why Start as a Leasing Agent?

• Learn the business with lower financial risk
• Build client relationships in the rental market
• Develop professional skills before handling sales transactions
• Generate income while deciding if real estate is right for you
• Network with industry professionals who can mentor your career growth

Illinois Market Considerations

Chicago Metro Area

• High rental demand creates strong opportunities for leasing agents
• Competitive sales market requires strong broker skills and local knowledge
• Higher average incomes for both career paths due to property values

Suburban Markets

• Mix of rental and sales opportunities
• Family-focused market often favors experienced brokers
• Lower competition than Chicago but smaller transaction volumes

Downstate Illinois

• Limited rental markets may favor broker licenses
• Lower property values affect commission potential
• Tight-knit communities value relationship-building skills

Making Your Decision: Key Questions to Ask

Choose Leasing Agent if:

• You want to enter real estate quickly with minimal investment
• You prefer steady income over commission variability
• You're unsure about a long-term commitment to real estate
• You want to learn the business before handling sales transactions
• You're primarily interested in rental properties

Choose Broker if:

• You're committed to a long-term real estate career
• You want maximum earning potential
• You're comfortable with commission-based income
• You want to work in both rental and sales markets
• You have the time and resources for a comprehensive education

Getting Started: Your Next Steps

If You Choose Leasing Agent:

1. Enroll in the 15-hour pre-licensing courseIllinois Residential Leasing Agent Real Estate LicenseIllinois Residential Leasing Agent Real Estate License through an approved provider
2. Schedule your state exam after completing coursework
3. Find a sponsoring managing broker to work under
4. Apply for your license through the Illinois Department of Financial and Professional RegulationIdfpr.illinois.gov

If You Choose Broker:

1. Complete the 75-hour pre-licensing educationIllinois Broker Real Estate LicenseIllinois Broker Real Estate LicenseIllinois Broker Real Estate License, including the interactive component
2. Pass both state and national exams
3. Secure sponsorship with a managing broker
4. Plan for post-licensing educationIllinois Real Estate License Renewal Ce Vs Postlicensing Explained Blog requirements in your first two years

The Bottom Line

Both leasing agents and brokers play important roles in Illinois real estate. Leasing agents offer a faster, lower-risk entry point with steady income potential, while brokers provide greater earning potential and career flexibility with higher education requirements.

Your choice depends on your career goals, risk tolerance, and timeline. Remember: you can always start as a leasing agent and upgrade to a broker license later as you gain experience and confidence in the field.

Key Takeaways

• Leasing agents get started faster with less education, but have limited earning potential
• Brokers require more upfront investment but offer unlimited income potential
• Both paths require working under a managing broker and ongoing education
• Career progression from leasing agent to broker is common and practicalPost Licensing Vs Continuing Education Blog

Ready to start your Illinois real estate career? AceableAgent's state-approved coursesIllinois Real Estate License provide the flexible, comprehensive education you need for either path. Choose our 15-hour leasing agent courseIllinois Residential Leasing Agent Real Estate LicenseIllinois Residential Leasing Agent Real Estate License for quick entry or our 75-hour broker programIllinois Broker Real Estate LicenseIllinois Broker Real Estate LicenseIllinois Broker Real Estate License for full career potential.