What Every Managing Broker Needs to Know About Their 2013 Renewal

Do you have a Managing Broker (471) license? Have you started thinking about your 2013 renewal requirements?  If so, you may be finding it difficult to determine the education requirements.  How much CE do you really need? 12 hours? 15 hours? 18 hours? What about Broker Management CE?

So how do you figure it out? We checked in with the IDFPR to be sure.  We confirmed that these are the requirements.

 Education requirements for your 2013 Managing Broker license renewal:

How did you
become a
Managing Broker?

Core
& Elective
Requirement

Broker Management Requirement

Deadline for education completion and license renewal

Passed the Broker to Managing Broker Proficiency Exam

18 hours*

12 hours
of live instruction

April 30, 2013

Completed the 45-hour Broker to Managing Broker Transition Course

18 hours*

Exempt
for 2013 renewal

April 30, 2013

Initial applicant through
45-hour Managing Broker Pre-License course and state exam

12 hours*

12 hours
of live instruction

April 30, 2013

* Any continuing education credit earned after April 30, 2010, can be counted toward your 2013 continuing education requirement.

Now that you know what your education requirements are, you’re ready to get started.  Let us know if we can help. More information is available at the following links:

Real Estate Institute: http://www.instituteonline.com/Illinois-Real-Estate-Continuing-Education-Managing-Broker.asp

 Illinois Department of Financial and Professional Regulation: http://www.idfpr.com/dpr/re/BrokerMgBrokerTransitionChart.pdf

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