Myth #1: Broker post-license education is a type of continuing education.
Many education providers are calling post-license education a CE option. This is not the case. Post-license education is actually a follow-up to your pre-license training, and it takes the place of continuing education for newly licensed brokers. It is a one-time requirement. Post-license education must be provided by an IDFPR-approved pre-license provider. Education providers that are only approved as continuing education providers cannot offer this course. Importantly, post-license credit will not be accepted by the IDFPR as continuing education credit and vice-versa.
Myth #2: If you transitioned from the Salesperson to Broker license, this is your first renewal.
If you transitioned your license, this is not your first renewal. You must complete 12 credit hours of continuing education (not 30 hours of post-license education) by April 30, 2014.
Myth #3: Ethics is required by the state for renewal.
The state does not have an ethics requirement. The IDFPR does require 12 credit hours of core and elective education. Specific provisions for core courses can be found here. Some real estate boards require ethics, but this is not needed for your license renewal. (Real Estate Institute includes an ethics elective in its 12-hour CE package.)
Myth #4: Attorneys are exempt from all broker renewal requirements.
Active Illinois attorneys are exempt from the continuing education requirements, but they must submit the renewal application and fee to the IDFPR by April 30, 2014.
Myth #5: Out-of-state licensees have different license renewal requirements.
If you live out of state and hold an Illinois Broker license, you must complete the same requirements as a Broker who lives and works in Illinois. Brokers licensed prior to February 1, 2012 must complete the 12-credit-hour continuing education requirement. Brokers licensed on or after February 1, 2012 must complete 30-hour post-license education. Brokers must also submit the renewal application and fee to the IDFPR by April 30, 2014.
Real Estate Institute is approved by the Illinois Department of Financial and Professional Regulation. Pre-License Provider #510.000158 and Continuing Education Provider #562.000161. Each year, thousands of licensees choose Real Estate Institute for its flexible continuing education and post-license education programs. If you have questions about your education requirements, our compliance experts are available at 800-995-1700 from 9 a.m.- 5 p.m., Monday through Friday.