In our completely unscientific study this week, it looks like broker licensees are in the lead. We’ve had considerably more inquiries and more transition enrollments from brokers than salesperson licensees. Since salesperson licensees significantly outnumber brokers in Illinois, we found this surprising.
We’re still scratching our heads trying to figure out why. With all the time and effort that has been spent to obtain and maintain the salesperson license, letting it go just doesn’t make sense. We assume a lot of salespersons still do not understand the change. Salespersons do not have the option of renewal. Transitioning from the salesperson license to the NEW broker license is the only option. So what’s the holdup!?!
- Are salespersons waiting until closer to the deadline?
- Are they waiting for the market to recover?
- Are they hoping the state will change the rules?
The bottom line is that if the transition requirements (education and submitting the paperwork and fees to the state) haven’t been met by April 30, 2012, you can no longer work as an agent – no more commissions, no more referrals, no more license. When an average commission would pay for 10 transitions, keeping an active real estate license seems like the right thing to do. We know that the market will get better. We know that there will be referral opportunities. It would take legislation to change this law, and it’s just not changing.
It’s time to take back the lead!