Back in January 2018, changes to the Real Estate License Act became effective, including significant updates to “modernize” education and renewal requirements. While some changes took effect right away, much of the implementation was deferred until 2019, so the IDFPR had time to develop transition plans for these significant changes. Among other things, the IDFPR needed to approve schools and courses that satisfy the new requirements.
Brokers and Residential Leasing Agents were the first to experience the impact of these changes, as they prepared for their 2020 renewal. Managing Brokers are up next, as you complete the education required for your upcoming renewal.
Here’s what you need to know to be successful with your upcoming Managing Broker license renewal. As a reminder, Managing Brokers must complete 24 credit hours of education before renewing.
Core A and Core B Continuing Education Courses Have Been Retired
For the previous renewal, Managing Brokers had to complete 12 hours of Core and Elective CE before renewing their license. That included the following:
- 3-Hour Core A (Required Subjects)
- 3-Hour Core B (Legal Subjects)
- 6-Hour Elective or Core B
Now, all Core A and Core B courses are no longer available. (The course approvals have expired, for all schools). The subjects that were formerly categorized as Core B may still be offered as Electives at a school’s discretion.
You Need to Complete a New “Core” CE Course
The former Core A and Core B requirement has been replaced by a single “Core” curriculum requirement. Managing Brokers must now complete:
- NEW 4-Hour Core (Subjects required by state law)
- 8-Hours of Electives
Online Distance Education Is the New Self-Study
As part of the new requirements, Core continuing education courses may only be completed in an interactive format. This includes classes, webinars, and online distance education courses. The good news is that all courses completed in an interactive format do not require a final exam.
Core credit cannot be earned with a self-study course, whether book-based or online (such as PDFs). This means that only Electives may be completed in the traditional self-study format.
Sexual Harassment Prevention Training Is Required
Effective January 1, 2020, every Illinois professional licensed by the IDFPR, including real estate licensees, must complete at least one hour of sexual harassment prevention training before renewing their license. The training must be provided by a division-approved education provider.
All real estate licensees must be sure that their Elective CE hours include sexual harassment prevention training before renewing their license.
Broker Management CE Is Still Required
Managing Brokers must complete 12 credit hours of Broker Management, which may only be completed in an interactive format (live webinar, class, or online distance education). Self-study is not permitted.
More to Come
There are more changes on the horizon. If you need help, Real Estate Institute is available to guide you to a successful license renewal. Here’s another resource that provides a summary of the significant education changes. For future updates, subscribe to the Real Estate Institute blog and you’ll receive an email with the latest posts.
Real Estate Institute has been a leader in real estate education for over 25 years. Our team of experts is standing by to answer questions about your requirements, our continuing education courses and the renewal process. Please don’t hesitate to contact us online or at 800-995-1700.