Last-Minute Tips for Brokers and Leasing Agents to Beat the September 30 Renewal Deadline

Deadline Clock

In response to the COVID-19 pandemic, the Illinois Department of Financial and Professional Regulation (IDFPR) previously announced that all professional licenses with expirations between March 30, 2020 and July 31, 2020 were extended through September 30, 2020. As a result, the deadline to complete post-license and/or continuing education was also extended through September 30, 2020. For real estate licensees, this change impacts Brokers (formerly 4/30/2020) and Residential Leasing Agents (formerly 7/31/2020).

The license renewal deadline for Brokers and Residential Leasing Agents is only weeks away. For those who have yet to renew their licenses, this can cause panic. But it doesn’t have to.

Follow the steps below to maintain your license. Each step offers tips on the fastest way to stay compliant (so you can keep working).

Complete Your Education

Brokers and Residential Leasing Agents in Illinois are required to complete education before renewing their license. The type and amount of education depends on when your license was issued. Find out the original issue date of your license using the IDFPR license lookup.

  • Brokers whose licenses were issued before 2/1/2018 require 12 hours of core/elective continuing education (CE). The specific CE requirements have changed for the 2020 renewal and include two new required courses: 4-Hour Core and Sexual Harassment Prevention training. All of Real Estate Institute’s CE courses are compliant with new education requirements. While live classes are permitted and remain available, online distance education is the fastest and most flexible option.
  • Brokers whose licenses were issued from 2/1/2018 – 11/1/2019 are renewing for the first time and must complete a Broker Post-License program (instead of continuing education).
  • Brokers whose licenses were issued after 11/1/2019 were issued licenses that expire on April 30, 2022. While renewal is not required at this time, there are compelling reasons to complete a 45-hour Broker Post-License program sooner, rather than later, including increased supervision requirements until post-license is completed.
  • Residential Leasing Agents whose licenses were issued before 5/1/2018 require 6 hours of core continuing education (CE). Those licensed after 5/1/2018 are exempt from CE because this is their first renewal.

Renew Your License

Most Brokers and Residential Leasing Agents know that they must pay the renewal fee to the IDFPR but are unsure of the exact process. Read the following for specific details about the renewal process:

  • After completing your required education, you may renew the license. The IDFPR license renewal fee is $150 for Brokers and $100 for Residential Leasing Agents for the two-year period.
    (Tip: This close to the deadline, it is important to find an education provider that will quickly issue your certificate of completion.)
  • The IDFPR strongly encourages Brokers to renew online. You may have received a PIN via e-mail from the IDFPR.
    (Tip: It’s not needed to renew. The license number, plus one of the following is needed to renew: Social Security number, date of birth or the IDFPR-issued PIN. A paper-based renewal form is also available to print with this information.)
  • Licensees who completed a change of sponsor or updated any of their personal contact information after 2/1/2020 may not be able to renew online. If you are unable to renew online, you will need to print a paper renewal form and mail it in with your payment. Mailed renewal forms must be received prior to the renewal deadline to be considered on-time.
  • Reminder: Renewing a license without completing the required education will likely lead to penalties or fees. Make sure your education is complete prior to submitting your renewal.
  • You can begin the renewal process by visiting the IDFPR website.

Real Estate Institute has been a leader in real estate education for over 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.

 

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