Real Estate Licensees Required to “Step Up or Step Out”

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.”

2 thoughts on “Real Estate Licensees Required to “Step Up or Step Out”

  1. I hold an IL state RE salesman license for 20 + years. What is the new law requires me to do to keep my salesman license and sell RE.

    Is there anybody represented the salesman group to listen the IMPROVED requirement?/
    What are we achieving by the new law by eliminating the salesman category????
    Or is it another new something??

    So, all those involved in selling the RE should be a BROKER !!!

    I am confused more than I was!!!

    Thanks,
    George Mathew.

    • George – you are not alone with your questions. Professional associations and the IDFPR supported legislation passed in 2009 creating these new license classifications and making other amendments to the Illinois Real Estate License Act of 2000. The license law updates were designed to impose stronger professional standards for Illinois real estate licensees and provide the public additional consumer protections in real estate brokerage transactions. All of these changes are intended to increase Illinois consumers’ confidence in the real estate profession.

      Still, I am frequently asked why the new license categories were adopted. One explanation I’ve received is that most all of the public currently refers to real estate salespersons as “brokers”, so the “salesperson” title was eliminated to better match common terminology. Then, the “managing broker” license was added to clearly identify those licensees with supervision and management responsibility.

      Check out our new website pages for more information on the specific requirements to transition your salesperson license to a broker license.

What are you thinking?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s