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Real Estate Broker Pre-License


Please join us at our Free Information Session on Wednesday, August 15, 2018 at 5:30pm in the A-Building, Room 122A.
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Information Session


Real Estate License Renewal Requirements

Important Notice for Real Estate Students - Changes to Illinois State Real Estate Educational Requirements

Due to modifications of the Real Estate License Act of 2000 the following changes became effective May 1, 2011: Changes the license categories under the Act from Salesperson and Broker to Broker and Managing Broker. The term "broker" is what the public identifies with when it comes to the real estate licensee they work with in a transaction. The term "managing broker" clearly identifies the person(s) in the brokerage operation that have management authority and responsibility.

Broker

  • Increases the entry-level of licensure – now "broker" - from 45 hours of pre-license courses to 90 hours of pre-license courses.
  • Provides that 15 of those hours shall be "situational" offerings in a classroom or interactive setting.
  • Requires brokers to take 30 hours of post-licensure education within the first renewal period. 15 of those hours must be situational in an interactive setting.
  • Requires 12 hours of continuing education (CE) each renewal period (except the first period when the 30 hours of post-license coursework are taken).

Managing Broker

  • The current top category of licensure – "broker" – requires 120 hours of licensure (salesperson plus 45 hours). This bill creates the new category of "managing broker", and requires managing brokers to have 165 pre-license hours (the 120 broker hours, plus a 45 hour course of study focusing on management of an office, supervision of licensees, and administrative issues; 15 of those 45 hours would be situational offerings in an interactive setting).
  • Managing brokers would have to take the 12 hours per renewal of broker CE, plus an additional 12 hours of CE on broker management.

Transition Provisions

  • Provides that salespersons have until 4/30/12 to move to "broker" license category by either passing a proficiency exam (to be provided by pre-license course providers), or by taking 30 hours of education and passing an exam (provided by a pre-license course provider);
  • No new salesperson licenses after 4/30/11 – the end of the next salesperson renewal period – but extends that license period to 4/30/12.
  • New "broker management" license available 5/1/11.
  • Existing brokers who are not managing, no new requirements.
  • Brokers on record with IDFPR on 4/30/11 have until 4/30/12 to either pass a proficiency exam (given by a pre-license provider), or take 45 hours of coursework and pass an exam (given by a pre-license provider).

Broker Real Estate Sales License Renewals

If you were licensed as a Salesperson on or before April 30, 2007:
• 12 Hours of CE is Required
• 6 Core/Mandatory Hours
• 6 Elective hours

If you were licensed as a Salesperson between May 1, 2007 and April 30, 2008:
• Six Hours of CE is Required
• Three Core/Mandatory Hours
• Three Elective Hours

If you were licensed as a Salesperson on or after May 1, 2008:
• No CE is Required

Broker CE Requirements for 2010 Renewal

If you were licensed as a Broker on or before 4/30/2008
   • 18 Hours of Continuing Education Required: Six Core Credits + Six Elective Credits
   • Six Hours Broker Management

If you are a Broker previously Licensed as a Salesperson
   • 18 Hours of Continuing Education Required: Six Core + Six Elective Credits AND
   • Six Hours Broker Management due within 180 Days of Licensure

Licensed as a Broker Between 5/1/2008 and 4/30/2009. *If not previously licensed as a salesperson
   • 12 Hours of Continuing Education Required: Three Core Credits + Three Elective Credits AND
   • Six Hours Broker Management due within 180 days of licensure.

Licensed as a Broker on or after 5/1/2009 AND not previously licensed as a salesperson
   • Six Hours of Broker Management due within 180 days of Licensure


IMPORTANT NOTES

  • Continuing Education must have been completed during the renewal period of 5/1/2008 through 4/30/2010.
  • The additional six hours of broker management continuing education should be earned between 5/1/08 and 4/30/2010.
  • Continuing Education credit for broker courses may apply if the courses are dually licensed. IAR courses are dually licensed and include credit according to the following:
    • Brokerage Administration – Three Hours Core
    • Advanced Principles 2000 – Three Hours Core
    • Contracts – Three Hours Core
    • Sales & Brokerage – Three Hours Elective
    • Appraisal – Three Hours Elective
    • Finance – Three Hours Elective
    • Principles Review – NO CE CREDIT

If the broker courses were taken BEFORE 5/1/09 and used as CE credit for the salesperson's renewal, they cannot be used as credit towards broker's renewal. Continuing Education earned for IDFPR disciplinary purposes may not be used towards CE renewal.

Licensees must retain all original certification of completion for their files. They are evidence of satisfactory completion of Continuing Education credit in case of an audit.


FAQs

Do I need to worry about the conversion right now?

What are the new license categories under the revised act?

I am a real estate salesperson with an active license. How long will my license remain in effect?

What will the requirements be for a salesperson converting to a broker?

What will the requirements be for a broker converting to a managing broker?

What will the requirements be for a newly licensed broker effective May 1, 2011?

What will the requirements be for a newly licensed managing broker effective May 1, 2011?