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Lansing IL Broker Courses for Real Estate Licensing in Illinois

Did You Know?

Lansing is a village in Cook County, Illinois. Lansing is a south suburb of Chicago. The population was 28,331 at the 2010 census.
Lansing is located at 4133'57?N 8732'45?W / 41.56583N 87.54583W / 41.56583; -87.54583 (41.565785, -87.545791). It is 6.9 miles (11.1 km) south of the Chicago city limits at 138th Street, and 25.6 miles (41.2 km) from the Chicago Loop. Lansing is bordered by Glenwood and Thornton to the west, Calumet City and South Holland to the north, Lynwood to the south, and by Munster and Hammond in Indiana to the east.

Featured Course Options for Real Estate Broker Licensing in Lansing

100% Online Home Study Package - Self-Paced
75 Hour Discounted Package for new brokers in Lansing
Mixed Online Option - Self-Paced + Attend Pre-Schedules Live Webinars for Extra Preparation
75 Hours Online Plus Live Webinars
Online - Only 60-Hour Real Estate Topics Course

Online - Only 15-Hour Applied Real Estate Principles Course

Why Should You Choose IBA for Your Real Estate Education?



How does one become a real estate broker? To become a real estate broker in Illinois, you must first take pre-licensing courses before you sit for the exam.


We have online classes to make sure you study in your busy schedule. The 60 hour online self study broker pre-licensing course lets you learn at your own pace and complete the work on your schedule. You can trust IBA Education to provide the best education.

Steps to Becoming a Real Estate Agent in Lansing
1. Successfully complete an approved 75 clock hour Pre-Licensing course with 60 hours of Pre-Licensing education and 15 mandatory interactive hours.
2. After you complete all the course materials, meet the minimum time requirement, and pass the practice exam, you must pass a course final exam.
3. You will have 3.5 hours to take this 140-question test comprised of two portions, covering both state and national requirements.

Get your real estate license online with the Illinois Broker Academy! We're a fully-accredited school with some of the best online real estate classes in the industry.
Broker Course Package from $199. Complete your 75 Hours Pre-license courses Online with continued Instructor Assistance and support, 24-Hour Access to Courses, and superior customer service in Lansing.


What Types of Seller or Buyer Queries Do Lansing Licensed Brokers and Realtors Handle?

The best way for agents to get leads is?

Getting leads is the main goal of most real estate agents and most companies that market to real estate agents. When you become an agent, you will be inundated with calls from marketers trying to sell you on the next best internet marketing platform. We use online internet lead generation tools like Zillow, but they are usually not the highest quality leads. Many internet lead sites give leads to multiple agents, and many internet buyers or sellers are just testing the waters. We have had the best leads from our own website and from our circle of influence. Your circle of influence is your friends and family, and anyone who is an agent in Lansing should know that term well. Your circle of influence can also be past clients who become your friends or at least your advocate after they see how good you are at your job. You cannot concentrate on only getting leads, you must also do a great job for the leads you have before, during, and after the buying or selling process.
The old-fashioned ways of providing awesome service and talking to people all the time are the best ways to make money in real estate.

What are the loan types available?

A loan is a sum of money that one or more individuals or companies borrow from banks or other financial institutions so as to financially manage planned or unplanned events. In doing so, the borrower incurs a debt, which he has to pay back with interest and within a given period of time. The recipient and the lender must agree on the terms of the loan before any money changes hands. In some cases, the lender requires the borrower to offer an asset up for collateral, which will be outlined in the loan document. A common loan for American households is a mortgage, which is taken for the purchase of a property.
Loans can be given to individuals, corporations, and governments. The main idea behind taking out one is to get funds to grow one's overall money supply. The interest and fees serve as sources of revenue for the lender.
Types of Loans
Loans can be classified further into secured and unsecured, open-end and closed-end, and conventional types.
1.Secured and Unsecured Loans
A secured loan is one that is backed by some form of collateral. For instance, most financial institutions require borrowers to present their title deeds or other documents that show ownership of an asset, until they repay the loans in full. Other assets that can be put up as collateral are stocks, bonds, and personal property. Most people apply for secured loans when they want to borrow large sums of money. Since lenders are not typically willing to lend large amounts of money without collateral, they hold the recipients' assets as a form of guarantee.
Some common attributes of secured loans include lower interest rates, strict borrowing limits, and long repayment periods. Examples of secured borrowings are a mortgage, boat loan, and auto loan.
Conversely, an unsecured loan means that the borrower does not have to offer any asset as collateral. With unsecured loans, the lenders are very thorough when assessing the borrower's financial status. This way, they will be able to estimate the recipient's capacity for repayment and decide whether to award the loan or not. Unsecured loans include items such as credit card purchases, education loans, and personal loans.
2.Open-End and Closed-End Loans
A loan can also be described as closed-end or open-end. With an open-ended loan, an individual has the freedom to borrow over and over. Credit cards and lines of credit are perfect examples of open-ended loans, although they both have credit restrictions. A credit limit is the highest sum of money that one can borrow at any point.
Depending on an individual's financial wants, he may choose to use all or just a portion of his credit limit. Every time this person pays for an item with his credit card, the remaining available credit decreases.
With closed-end loans, individuals are not allowed to borrow again until they have repaid them. As one makes repayments of the closed-end loan, the loan balance decreases. However, if the borrower wants more money, he needs to apply for another loan from scratch. The process entails presenting documents to prove that they are credit-worthy and waiting for approval. Examples of closed-end loans are mortgage, auto loans, and student loans.
3.Conventional Loans
The term is often used when applying for a mortgage. It refers to a loan that is not insured by government agencies such as the Rural Housing Service (RHS).

Do you need a resume for real estate?

As a real estate agent, you need a resume that will sell you just as well as you sell the property.
Five Realtor Resume Writing Tips
Before you start writing, make sure you know how to write a resume in a way that best emphasizes your strengths.
Real estate agents have a large impact on many peoples' lives. The act of buying and selling a home can be extremely stressful for regular folks, and they rely on the experience and expertise of realtors to make the process as smooth as possible.
As a real estate agent, you'll have many diverse responsibilities. A successful agent in Lansing has to be adept in a variety of skills, such as:
1.Generating leads through various marketing campaigns, like phone calls, email, and online ads.
2.Negotiating deals between buyers and sellers can also lead to the need to resolve conflicts.
3.Holding open houses as well as escorting potential buyers to properties that match their needs.
4.Creating legal documents like lease agreements, contracts, and deeds.
5.Consistently keeping up to date with the local and national real estate market trends.

Is paying 6% to sell a home required?

Traditionally, sellers will pay 6% to their real estate agent. The agent in Lansing will split the difference between themselves and the buyer's agent. This number has been the standard commission rate since the mid-20th century. But sellers don't have to pay this 6% commission; they have other options.
Discount agents may take as little as 3% to sell a home. Flat fee services can connect sellers with real estate agents who will take over the process - all for a flat fee that saves sellers thousands of dollars. Sellers can also take on the job of being a real estate agent, listing their homes online or through multiple listing services (MLS.)

How mortgage brokers makes money?

Mortgage brokers are people too - they need to feed their families and pay their bills. They're not helping you negotiate a better home loan deal from the goodness of their hearts. Brokers usually work on commission, which can come in two parts: the upfront commission and a recurring monthly commission.
The upfront commission is the most common, and the amount varies from lender to lender, between 0.3-0.7% of the loan value. So, for example, if you ended up taking out a $500,000 home loan, and your broker was working on a 0.5% commission, they would make $2,500 straight up.
The recurring commission is based on the remaining loan amount for each year of your home loan and paid to your broker on a monthly basis. This type of commission is less common and pays a smaller percentage, often less than 0.3%.

Is paying 6% to sell a home required?

Traditionally, sellers will pay 6% to their real estate agent. The agent in Lansing will split the difference between themselves and the buyer's agent. This number has been the standard commission rate since the mid-20th century. But sellers don't have to pay this 6% commission; they have other options.
Discount agents may take as little as 3% to sell a home. Flat fee services can connect sellers with real estate agents who will take over the process - all for a flat fee that saves sellers thousands of dollars. Sellers can also take on the job of being a real estate agent, listing their homes online or through multiple listing services (MLS.)

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ABOUT ILLINOIS REAL ESTATE BROKER (AGENT) LICENSE COURSES

Illinois Real Estate Act of 2000 law requires that an individual complete 75 hours of real estate educational training in order to take the state broker's licensing examination. These 75 hours consist of a 60-hour Real Estate Broker Topics course and a 15-hour interactive training course, which can both be taken online. Both of these classes can be taken online and include an Illinois state required final examination. You can enroll in these courses by adding them to your cart from our course pages. Each of our courses include the course material, audio presentations, exercises, and practice quizzes. All of our topics courses also come with
Unlimited Online Access, Dedicated Customer Support, Course Access from Any Internet Device, Instructor Assistance, Printable Materials, Progress Tracking, and an Education Administrator