How to Complete Your 2015 Illinois Managing Broker License Renewal in Two Simple Steps

IDFPR opens license renewal window
The Illinois Department of Financial and Professional Regulation (IDFPR) is now accepting Managing Broker license renewal applications.  Follow these instructions for a timely renewal:


Step 1 – Complete 24 Credit Hours of Continuing Education

Illinois real estate Managing Brokers need a total of 24 hours of continuing education (CE) in 2015 which includes: 12 hours of core and elective CE (via self-study, online or classes) plus 12 hours of interactive Broker Management CE (via live classes or live webinars). It’s important to note that this education requirement is different (and takes more planning) than in previous renewal periods.

The current Managing Broker renewal period began May 1, 2013, and ends April 30, 2015. If you complete continuing education courses with Real Estate Institute, our school reports your course completions to the IDFPR.

Exceptions

    • New Licensees: Managing Brokers who are in their first renewal period might not need 24 hours of CE in 2015. Individuals in their first renewal period who completed the Managing Broker pre-license courses during the renewal period are exempt from the Broker Management CE requirement. These licensees are required to complete only 12 hours of core and elective continuing education. (If you transitioned from a Broker license to a Managing Broker license, you are not in your first renewal period and need 24 hours of CE.)
  • Attorneys: Currently licensed Illinois attorneys are exempt from the education requirements!   Don’t forget to submit your license renewal application. See below.


Step 2 – Submit Your New License Application

After you have completed your CE requirement, you must renew your license with the IDFPR. There are two ways to renew your license:

  1. Apply Online – The IDFPR permits online license renewal applications to be submitted up to 90 days before the license expires. This option allows you to complete the entire renewal application and pay online. Click here to apply online.
  2. Mail Your Application – The IDFPR typically mails licensees a copy of the renewal application 60 days before the license expires. This application can be completed and returned with payment. If you use the paper application, we strongly recommend that you send it to the IDFPR via USPS Certified Mail so that you receive confirmation of delivery to the IDFPR. Delivery confirmation will be critical in the event of a delay in license renewal. It will take the IDFPR several weeks to process your application.

If you have questions about your education requirements for renewal, please call 800-995-1700 to speak to one of our compliance experts. More information can also be found at InstituteOnline.com/Renew.

 

 

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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