Form Il 505-0342 - Instructions For Real Estate School Approval Application For Proprietary School (Private Real Estate Schools) And Colleges/universities

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Important Notice: Completion of this form is necessary to
accomplish the requirements outlined in The Real Estate License
Act of 2000. Disclosure of this information is REQUIRED.
Failure to comply may result in this form not being processed.
This form has been approved by the Forms Management Center.
Office of Banks and Real Estate
INSTRUCTIONS
REAL ESTATE SCHOOL APPROVAL APPLICATION
PROPRIETARY SCHOOL (PRIVATE REAL ESTATE SCHOOLS) AND
COLLEGES/UNIVERSITIES
PROFESSION CODE 110
1. An applicant seeking approval as a real estate school shall apply on forms provided by Office
of Banks and Real Estate and submit them with the appropriate fee. Information pertaining
to the approval procedure for real estate schools is cited in The Real Estate License Act of
2000 and the Administrative Rules. Once approval is granted, the school must offer
classroom instruction in the required curricula.
2. Read carefully the entire Illinois Application packet for Real Estate Schools.
3. Submit the following items in a binder with dividers to :
Office of Banks and Real Estate
Real Estate Education
500 East Monroe Street, Suite 200
Springfield, Illinois 62701
217/782-3338
a)
School application signed by School Administrator
b)
Course Curriculum for all courses seeking approval
c)
Submit 2 copies of the Master Course Analysis Form.
The Master Course
Analysis form must have the school’s embossed seal showing on each copy.
d)
Submit all examinations with answer key for each course. The 45 hour course
must have a minimum 100 question final examination and the 15 hour course
must have a minimum 50 question final examination. All courses must give a
mid-term.
e)
Application fees are NON REFUNDABLE. Fee Chart Enclosed.
School Application Fee
$1,000.00
Branch Application Fee
$ 150.00
Instructor Application Fee
$ 100.00
Course License Fee
$ 100.00
MAKE CHECKS PAYABLE TO: OFFICE OF BANKS AND REAL ESTATE
IL 505-0342
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