Yes: in Illinois, real estate agents need a state license issued by the Illinois Department of Financial and Professional Regulation (IDFPR). You can check a name yourself on IDFPR License Lookup.
Real estate agents in Illinois: what buyers ask
Who pays the real estate agent in Illinois?
Commissions are negotiable and not set by law. Since August 17, 2024, offers of compensation are banned from the MLS and buyers sign a written agreement first.
What must a seller disclose in Illinois?
An Illinois seller of one to four units, a condo or a co-op must complete the 24-item disclosure report and deliver it before the contract is signed (765 ILCS 77). If it arrives after signing, the buyer may cancel within 5 business days and get the earnest money back.
Check a real estate agent yourself
- License required · Illinois Department of Financial and Professional Regulation (IDFPR)
- Titles you will see: Managing broker, Broker, Residential leasing agent
- Check a name yourself: IDFPR License Lookup
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