The Different Types of Illinois Real Estate Managing Brokers

Whether you're a residential leasing agent or real estate broker exploring your future opportunities, a career as an Illinois managing broker has different career paths you could take. Whether working independently or mentoring other real estate professionals, getting licensed as a managing broker is how you take your real estate career to the next level.

On the other hand, maybe you're already a licensed Illinois managing broker looking to venture off and become self-sponsored or vice versa. Whatever it may be, let's dive in to help guide your real estate career journey. Your next move could be a click away.

Types of Managing Brokers:

In Illinois real estate, there is only one type of managing broker license, but there are different statuses you can hold. They are:

Self-Sponsored – this allows you to work independently. You're the designated managing broker sponsoring your own real estate license. You can still manage and sponsor other licensees if you are a self-sponsored managing broker.

Sponsoring – as a sponsoring managing broker, you will hold the licenses of leasing agents, brokers, or other managing brokers. All leasing agents and brokers in Illinois must legally have a licensed broker or managing broker sponsor their license. When you are a sponsoring managing broker, you're the designated managing broker responsible for the licensee's supervision.

Note: A sponsoring broker does not have to be licensed as a managing broker. It could be a company employing ten brokers or managing brokers that appoints a designated managing broker registered with the IDFPR to supervise all their other brokers/employees.