We always advise Broker Pre-License students about their Post-License Education and Continuing Education (CE) requirements, once they successfully pass our school final exam and the state licensing exam. But during all the terminology, laws and rules that they are studying and learning, the nuances of required education and license renewal can be easily forgotten. Here is a quick guide to help new Brokers navigate and understand what is required.
All Real Estate Brokers licensed by the Illinois Department of Financial and Professional Regulation (IDFPR) are required to complete education during each two-year license renewal period (by April 30 in even numbered years). As a follow up to their pre-license education, newly licensed Brokers are required to take a 30-hour Post-License Education program during their first renewal. All subsequent renewals require a 12- hour Continuing Education program. In a previous blog, we discussed changes to the license law and how it will impact Brokers.
What does the law say about Brokers and their first license renewal period?
Brokers are required to complete 30 hours of post-license education, including a school-administered examination for the course, prior to their first renewal of that license. This course must address the practical application of pre-license topics to the practice of real estate as set forth in law. Furthermore, Brokers completing the 30-hour Post-License program during their first renewal period shall not be required to complete any continuing education during that renewal period. The 30-hour Post-License requirement must be completed within the two years immediately prior to the Broker’s first renewal.
How does this affect you?
- If you received your first Broker’s license between February 1, 2016 and January 31, 2018, you will need to complete a 30-hour Post-License program by the April 30, 2018 renewal deadline.
- If you will be issued your first license after February 1, 2018, you do not need to take the 30-hour Post-License program this renewal period. You will need post-license education by April 30, 2020.
What should you do?
First, determine when your license was issued by the IDFPR. You can call us – we are happy to provide you with this information. Or you can find your license issue date on the IDFPR website. If you are uncertain about education requirements and how they pertain to you, call an IDFPR-approved pre-license and continuing education provider for more information.
Real Estate Institute has been a leader in real estate education for 25 years. Our team of experts is standing by to answer your questions about your requirements, our courses and the renewal process. Please don’t hesitate to contact us at 800-995-1700.