Are Final Exams Required for Upcoming Real Estate License Renewal?

Last year, some important amendments to the Real Estate License Act took effect. While most of the changes were subtle, there was an impact for Illinois Real Estate Managing Brokers. As the license renewal deadline approaches for Managing Brokers, our customer service team has been fielding lots of questions about the changes. Here is the key question and answer…

Do the license law changes impact your 2019 Managing Broker license renewal?

Yes, but not in a significant way.

Although the amended license law made some changes to curriculum and the way courses can be offered, the real impact of those changes won’t be felt until the next license renewal period. That’s because the state needed to finalize administrative rules that describe how those changes will be implemented. The proposed rules (which may be final by the time you read this) defer the impact of the changes to avoid confusion about requirements during this renewal period.

However, the Illinois Department of Financial and Professional Education (IDFPR) determined that some aspects of the amended license law were very clear and could be implemented in advance of the rulemaking process. This contradiction led to some confusion among licensees.

How does this impact Managing Broker Continuing Education?

The current two-year Managing Broker renewal period began May 1, 2017, and ends April 30, 2019. As a reminder, most Illinois Managing Brokers must complete 24 credit hours of continuing education that includes: 12 hours of core and elective CE (via self-study, online distance education, classes or live webinars) plus 12 hours of interactive Broker Management CE (via classes or live webinars) before renewing their licenses.

You may be pleased to learn that if you attend a live, interactive CE course via classroom or webinar, you are no longer required to complete a final exam for that course. Keep in mind that you must attend the entire course. (Attending review classes for self-study CE courses is not permitted.) This applies to core, elective, and Broker Management CE.

When it comes to core and elective CE, attending live training is not for everyone, especially with the requirement to complete 12 hours of interactive Broker Management CE. You may be looking for another way to avoid taking a final exam. If you’re feeling a little adventurous and willing to try something new, “online distance education” may interest you. This new interactive course delivery method became available in 2018 as a result of the amended license law.

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Online distance education is a modern approach to self-study that has some pros and cons depending on your perspective.

No one relishes the idea of taking a test. It’s important to know that although a final exam is not required with online distance education courses, there must be interactivity, which includes quizzes/knowledge checks along the way to make sure you’ve gone through the entire course.

Note: The state does not permit the 12-credit-hour interactive Broker Management CE course to be completed in an online distance education delivery method.

In summary, the course format you choose will determine whether a final exam is required.

The IDFPR will soon begin accepting license renewal applications, so it’s important that Managing Brokers complete their required CE now.


Real Estate Institute has been a leader in real estate education for over 25 years, offering top-rated Continuing Education and Pre-License courses in multiple formats: Classroom, Live Webinar and Online Distance Education. Real Estate Institute’s team of experts is standing by to answer questions about your requirements, our courses and the renewal process. Please don’t hesitate to contact us at 800-995-1700.

 

Last-Minute Tips for Brokers to Beat the April 30 Deadline

Motion blur shot of a cheerful business woman crossing the finish line (shutterstock_122081617)The license renewal deadline for Illinois real estate Brokers 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 in Illinois are required to complete education before renewing their license. The type of education depends on what date your license was issued. Find out the original issue date of your license by checking the Illinois Department of Financial and Professional Regulation (IDFPR) license lookup page at their website.

  • Brokers whose licenses were issued before 2/1/2016 require 12 hours of core and elective continuing education. While live classes are permitted, self-study or online distance education (new for 2018), are the fastest and most flexible options. Self-study courses can be completed anywhere, anytime and require a proctored exam. Online distance education and classes don’t require a final exam, based on recent real estate license law amendments. Finding live classes in your area at this late date may be a challenge. We recommend trying out online distance education. Real Estate Institute offers convenient continuing education options here.
  • Brokers whose licenses were issued from 2/1/2016 – 1/31/2018 require post-license education. Half of this 30-credit-hour requirement must be delivered via interactive instruction, such as a live class or webinar. With limited time remaining, webinars are recommended because they offer very flexible attendance options – review your post-license education options.
  • Brokers whose licenses were issued after 1/31/2018 won’t have to renew until 2020, so no education is required at this time. Even so, these Brokers should complete their post-license education well before their deadline to get it out of the way so they don’t have to worry about it later. (Tip: You can get started as soon as 5/1/2018.)

Renew Your License

Most Brokers know that they must pay the renewal fee to the Illinois Department of Financial and Professional Regulation (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 the two-year period. (Tip: This close to the deadline, it’s 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 with this information.
  • You can begin the renewal process by visiting the IDFPR website and selecting the renewal method offered for your profession.

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.

What You Need to Know About Illinois Broker License Renewal in 2018

Alarm Clock_Apr 30_1 Text Line_No BkgThe Illinois Department of Financial and Professional Regulation (IDFPR) recently e-mailed Brokers, announcing that they are officially “In Renewal.” The department is now accepting online license renewal applications.

If you didn’t receive this announcement, you may need to update your contact information with the state to receive future notices. To easily update or add your e-mail address, click here.

Remember, you cannot renew your real estate license until your required education is complete. It’s important that you follow these instructions for a timely renewal.

Step 1 – Complete Continuing Education or Post-License

Illinois real estate Brokers need 12 hours of core/elective continuing education (CE) every renewal period, EXCEPT Brokers who are in their first renewal period. Brokers in their first renewal period are required to complete a 30-hour Broker Post-License program. (If you were licensed on or after February 1, 2016, you must complete Post-License.)

The current Broker renewal period began May 1, 2016, and ends April 30, 2018. If you complete CE or Post-License education with Real Estate Institute, our school reports your course completion directly to the IDFPR.

Step 2 – Submit Your New License Application

After you have completed your CE or Post-License 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 application can be completed online, printed and mailed 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. Delivery confirmation will be critical in the event of a delay in license renewal. It will likely take the IDFPR several weeks to process your application.

If you have questions about your education requirements for renewal, online resources are available: Continuing Education FAQs and Post-License FAQs. More information can also be found at InstituteOnline.com/NextSteps.


Real Estate Institute has been the local leader in Illinois real estate education for over 25 years. More Brokers choose Real Estate Institute than any other provider for their required license renewal education every season. 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.

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.

Should I Renew My Real Estate License?

Is it time to break up with the IDFPR?I’m probably not the only one with an Illinois managing broker’s license who is thinking, “Is this the year I officially retire from real estate?”  I’m sure that this is a question that echoes in the minds of many this time of year when we must complete our continuing education and renew our license. I have been licensed for over 31 years – that’s a lifetime! I faithfully complete my CE and renew my license every two years. It’s been a part of my life for so long.  But  I ask myself, is it time to break off the relationship?  Is it time to write that “Dear John” letter to the IDFPR?

At this point in my life, I am a self-sponsored managing broker working out of my home. I question keeping my license because I am not actively working with the public in real estate. Recently, I faced an IDFPR audit and survived. Believe me, even though I always do things by the book, I almost threw in the towel after that experience!  However, I still like to dabble: buy a house or two every now and then and help out an old friend or family member.

And now it’s renewal time … Should I or shouldn’t I?

And my answer is… I am going for it!  I am going to complete the 24 credit hours of CE and renew my managing broker’s license. I have given it a lot of thought and have decided that renewing is the right thing to do.

Here’s why…

As long as I continue to have a passion for real estate, want to  learn new things  and help a few others, I will continue to renew my license. I have worked so hard to get this far. Like I said, my license and I have shared a lifetime together, and I am not ready to break up!

Maybe this is the year I can make a difference. Maybe this is the year I can give back and become more involved.

I have not given up hope, folks. I’m sure you feel the same.  See you in CE class.

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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Why Brokers Cannot Renew Their Illinois Real Estate Licenses

You’ve renewed your Illinois real estate license in the past, so you know it’s not complicated to complete the online renewal process at the IDFPR website. Why is this year different?

Brokers call our compliance experts every day with this question. As the April 30, 2014 deadline nears, the anxiety level for Brokers is bound to increase. We’ve uncovered one of the stumbling blocks to a successful renewal.

Follow these steps and you’ll be on the right track.

  1. Complete your 12-credit-hour continuing education requirement. Real Estate Institute offers last-minute CE. Click here for details.
  2. Print out this instruction sheet with tips from the IDFPR on how to pay by credit card.
  3. Renew Online. The IDFPR allows you to complete the entire renewal application and pay online.
  4. Track down your pocket card with your license number. Here’s where the problem lies. With the license transition, all licenses with the prefix “476” were eliminated and will not be accepted. You must use your new Broker license number, which begins with “475.”
  5. Decide which identifier you will enter (PIN, SSN, or Date of Birth) along with your license number.
Remember: your license number will start with 475, NOT 476
Remember: your license number will start with 475, NOT 476

6.  Once you successfully log in, complete the requested information and submit your $150 renewal fee to the state.

Remember, it’s important to renew before April 30 to avoid late fees.

Loan Originators May Face Delayed Renewal-Are Your Fingerprints Expiring?

As we approach the loan originator license renewal period this year, PLEASE check your fingerprint expiration date inside the NMLS system.  Fingerprints expire every three years per FBI rule, and there WILL be states that will require a refreshed criminal background check for renewal this year.  We don’t have a comprehensive list of states that will be requiring updated criminal background checks (or credit checks) at this point, but the NMLS will be releasing its state-by-state renewal requirements list in the upcoming weeks.  Please make sure to check that list (we’ll link to it on this blog and at www.InstituteOnline.com as well) when it’s released so you are not surprised by a requirement that you cannot quickly satisfy because of expired fingerprints.

IF your fingerprints are expired and you are licensed in a state that will require an updated CBC (criminal background check), please do not wait until the last minute to be re-printed.  Reviewing CBCs is a time consuming process for state regulators – many states only have one person to review these reports – and you don’t want to be forced into a delayed renewal because you waited until the deadline to be re-fingerprinted.

More thoughts from the AARMR conference to come both here and in our all-new 2013 CE courses.

Thanks for reading, and happy originating!

Peter

Illinois Leasing Agent Renewal Deadline Approaching

July 31, 2012, is the deadline for all Illinois Residential Leasing Agents to renew their licenses. Leasing Agents must complete an IDFPR-approved 6-credit-hour continuing education course before license renewal.  The renewal occurs every two years (in even numbered years). However, if you were licensed during the current renewal period (first-time renewal), you are not required to complete continuing education but must complete the renewal application and submit the fee.

Once you have completed your CE requirement, active licensees must fill out a renewal application and pay the renewal fee. The state allows you to renew as follows:

  • Online with a credit card
  • By mail

Real Estate Institute has created a special six credit-hour course including topics specifically meaningful to residential leasing. The course is offered in a self-study format, allowing you to study at your own pace before taking the required exam near your home or office. Click here for more information. You can view the course book online and begin immediately. If you have questions about your renewal requirements, you may call the knowledgeable customer service representatives at Real Estate Institute at 800-995-1700 or call the IDFPR at 217-782-3414.

For additional resources, click the links below.

Frequently Asked Questions: Click here.

IDFPR Renewal: Click here.