People often think the terms agent and broker are interchangeable, but they are in fact not. Up through 2012, the State of Illinois issued an agent license for real estate. However, that all changed in 2012, when the state revamped their licensing and requirements. Pursuant to that change, there are now broker and managing broker licenses in Illinois, with the broker being very similar to what the agent license used to be in Illinois. Therefore, if you are just getting starting in real estate in Illinois, and would like to represent buyers, seller, tenants, landlords, or act as property managers, you would want to obtain a broker’s license.