CE Survival Guide – Major Changes to Illinois Real Estate Continuing Education

Life belt in the air

July 1, 2019 is an important day for Illinois real estate licensees.

Starting July 1, Brokers, Managing Brokers and Residential Leasing Agents are subject to new continuing education requirements. It’s been over a decade since we’ve seen major changes like this!

In January 2018, the Real Estate License Act was amended with significant updates that “modernize” education and renewal requirements. While some changes took effect right away, much of the implementation was deferred until now, so the IDFPR had time to develop transition plans. These plans included approving schools and courses that satisfy the new requirements.

Here are the facts you need to know to survive your next real estate license renewal.

FACT 1: Core A and Core B Continuing Education Courses Have Been Retired

Until today, most Brokers and 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.

FACT 2: You Probably 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The former Core A and Core B requirement has been replaced by a single “Core” curriculum requirement. Brokers and Managing Brokers must now complete:

  • NEW 4-Hour Core (Required Subjects)
  • 8-Hours of Electives

Residential Leasing Agents only need to complete a special 6-Hour core course (and no electives).

If you already completed some or all of your CE for the current renewal period, you may be exempt from the new requirement.

If it’s your first license renewal, you’ll need to complete 30 credit hours of Post-License education instead of continuing education.

FACT 3: 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.

The Core credit cannot be earned with self-study courses, whether book-based or online (such as PDFs). This means that only Electives may be completed in the traditional self-study format.

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.

This means that all real estate licensees must be sure that their CE (or Post-License education) includes this training in order to renew. This first impacts Brokers and Leasing Agents who renew their licenses in 2020.

There are more changes on the horizon. If you need someone to throw you that life preserver by reviewing your transcript or helping you navigate these new waters, Real Estate Institute is available to guide you to a successful license renewal. Here’s another resource that provides a summary of the major education changes.


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 continuing education courses and the renewal process. Please don’t hesitate to contact us online or at 800-995-1700.

 

Changes to Illinois Mortgage Advertising Rules – Effective Immediately

Tunnel of media, images, photographs. Tv, multimedia broadcast.

Gov. Bruce Rauner has signed into law the bill known as SB 2615, which amends the Residential Mortgage License Act of 1987 and makes minor changes to advertising requirements. The bill, which passed both houses of the Illinois Legislature unanimously, removes the need for mortgage companies licensed by the IDFPR to use the phrase “Illinois Residential Mortgage Licensee” in all advertisements.

As of August 10, 2018, mortgage advertisements in Illinois “must reference the Nationwide Multistate Licensing System’s Consumer Access Website” (www.nmlsconsumeraccess.org). In addition, all mortgage advertisements must now include the company’s NMLS unique identifier.

Now is a good time for companies to do a thorough review of their advertising policies and procedures to ensure continued compliance with state and federal advertising requirements. As always, MLOs are reminded that social media pages and posts promoting their employment are considered advertisements and must be compliant with all relevant laws. (We’ll discuss this further in our comprehensive CE class this year.)

Thanks to the folks at the Greater Midwest Lenders Association (www.GMLAonline.org) for spearheading this legislative effort to standardize Illinois advertising law with those found in many other states.

Peter


Real Estate Institute offers top-rated Mortgage Loan Originator Continuing Education and Pre-License courses in all three formats: Classroom, Live Webinar and Online, Self-Study. These courses were designed BY loan originators FOR loan originators covering topics you need to know to navigate today’s ever-changing lending landscape.

Should a Career in Real Estate Be Your New Year’s Resolution?

key-2323278_1920No time like the present!

New year, new you!

2018 will be the year I…

When the calendar turns the page from one year to the next, it’s human nature to sit back and contemplate what the previous year’s experiences taught us. Self-reflections may include questions like:

Did I do what I set out to do last year?
Am I happy with the choices I made?

Sometimes we know we are just where we’re supposed to be. Other times, we know we’re on the right path but not quite there yet. A new year offers us not only the opportunity to assess the previous year but also the chance to look ahead toward great possibilities. For many of us, it means a clean slate. We leave behind the things that aren’t bringing out our best, and we grow excited as we seek other avenues where we can develop our talents.

Here at Real Estate Institute, we’re fortunate to experience the excitement and eagerness of these seekers every single day. Something finally clicks in their minds and, before you know it, we have a new classroom filled with real estate pre-license students, eager to learn and excited to begin the process of exploring a new career path. They’re taking a first step that can lead to…

happiness, self-direction, the possibility of unlimited income,
helping others fulfill their dreams, loving what they do, freedom…

Happiness means something different for everyone. Only you can determine what it means for you. What we know for sure is that the opportunities you will find at the end of your broker pre-license course are endless and only limited by your own imagination. How much can you imagine?

Why not learn about what a career in real estate can offer you? Just think, if you start your broker pre-license education now, you can get licensed and start working for a real estate company just in time for the upcoming spring market.

We welcome the opportunity to discuss how you can begin to make your dreams a reality. You can learn more about Illinois real estate pre-license programs by attending one of our upcoming free real estate information sessions or by visiting us at InstituteOnline.com.


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 state licensing process. Please don’t hesitate to contact us at 800-995-1700.

New Brokers’ Quick Guide to the First Real Estate License Renewal

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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.

Education Overview

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.

2017 Illinois Managing Broker License Renewal in Two Simple Steps

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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) which includes:
12 hours of core and elective CE 
(via self-study, online or classes) plus 12 hours of interactive Broker Management CE (via classes or live webinars).

The current Managing Broker renewal period began May 1, 2015, and ends April 30, 2017. 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 2017. Licensees 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.
  • 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 no longer mails licensees a pre-printed renewal application. However, you can print the form online. Select Print Renewal and enter the requested information. 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 Real Estate Institute’s compliance experts. More information can also be found at InstituteOnline.com/Renew.

Illinois Doubles “Credit Reporting Fee” for Insurance CE Hours

Up-Arrow-BlueEffective March 2, the state-mandated fee for reporting Illinois insurance continuing education credit hours to the appropriate licensing authorities has increased from 50 cents per hour to $1 per hour. The fee is intended, in part, to fund online licensing services available through the National Association of Insurance Commissioners’ “State Based Systems” website, www.statebasedsystems.com. Producers can use the site to review their licensing information, monitor their remaining CE requirements, find approved education providers and more.

Real Estate institute offers insurance education approved by the Illinois Department of Insurance. Thousands of Illinois insurance producers complete our classroom and self-study continuing education courses each year. All state-mandated fees are required upon enrollment. State fees are subject to change without notice. We encourage students to complete courses promptly to avoid further fee increases.

Should You Become A Home Inspector? Read This First

magnifying-glass-red-houseAfter 25 years of “crawl spacing” (a friendly term that my friends and I call what we do), I sometimes ask myself why I love the home inspection profession so much.  If you think about the yucky stuff, like crawling around in hot attics and various spider-filled tight squeezes, you might wonder what’s wrong with me.

I asked my friend and colleague Corey why he thought we did it.  He said it’s because we have “FSO disease.”  We love to Figure Stuff Out, including why “stuff” doesn’t work. I can’t tell you how many times I walk by something and it just doesn’t seem right.  I will stare, test, prod and poke it until I figure out what’s wrong with the component I’m looking at.

Another reason I enjoy my work is that we get to use cool tools.  I purchased a thermal imager to help with my inspection business.  Today, I was shooting the ceilings of a condo and found a blue spot on the ceiling in a bedroom.  It didn’t even dawn on me that a register was missing in the room.  It turns out that the ductwork was placed to the point of discharge, but the register was never installed. Someone lived there for four years without heat or AC in the room.

But the biggest and most important reason I do this work is the feeling I get when I’m doing my closing interview with my clients and showing them all the issues that are present in the home they’re about to purchase.  When I finish, they look me in the eye, shake my hand and say “thank you” with the most sincerity. I can’t tell you how much I enjoy that feeling.  I help families with the largest purchase in their lives, and that’s pretty cool.

If you, or someone you know, would like to become an official member of the “FSO” community, please attend our upcoming Home Inspector Informational Seminar.  This no-cost seminar will cover the requirements for obtaining a home inspector license, what it’s like to enter this rewarding career field, and the tools that are used in this exciting profession.

My name is Charles Bellefontaine, and I love crawl spacing!

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Charles Bellefontaine is a veteran home inspector and licensed Illinois home inspector instructor. You can find out more about him at www.thehomeinspectors.com.