The hot topic for Illinois real estate licensees is the transition that will take place beginning in May of 2011. Earlier this month, the Association of Illinois Real Estate Educators (AIREE) held its 2010 Winter Conference at DePaul University Conference Center in the Chicago Loop. The conference was attended by over 100 educators from throughout the state.
Changes to the Illinois Real Estate License Act signed into law by Governor Quinn in 2009 will eliminate the real estate salesperson license category. Those individuals who currently hold real estate salesperson licenses will be required to take additional education and apply for what will be a new category of broker license. Real estate salespersons who don’t transition to the new license will lose their license and be forced to stop practicing. During this same transition period, individuals holding a broker license under the current standards must either take additional education or give up the privilege of self-managing and managing others.
Scott Toban of the Real Estate Institute addressed the conference, explaining the new licensing standards. He explained that each licensee has a one-time option to pass a proficiency examination demonstrating that they don’t need the additional education. Scott also spoke about the new increased education requirements for initial licensure and entry into the real estate business in the state of Illinois. Scott, by appointment of the governor, serves on the Illinois Real Estate Administration and Disciplinary Board and Real Estate Education Advisory Council.
Alan Toban, founder of the Real Estate Institute, addressed the conference to explain the new way training must be delivered. Alan explained, “Licensees will no longer be asked to merely memorize dates or lists of rules. The new law insists students receive training that will prepare them for real-life situations affecting the public they serve.” Alan further explained, “Under the new law, a consumer of real estate services is to receive written notice from a licensee declaring whose interests the licensee is actually protecting.”