How to Meet the Upcoming Deadline for Illinois Managing Broker License Renewal in 2021

Illinois Managing Brokers – it’s go time. The window is quickly closing to meet the Illinois Department of Financial and Professional Regulation’s (IDFPR) deadline for license renewal applications.

If you have yet to renew your license, do not fret. Real Estate Institute is here to act as a resource to ensure you have completed your proper, and required, education to renew your license. We’ve informed you of what you need to know about Illinois Managing Broker License Renewal in 2021, but let’s review again in light of the April 30th deadline.

Note: if for some reason, you did not receive any communications from IDFPR about this renewal window, please update your contact information with the state to receive future notices. To update or add your email address, click here.

To renew your Illinois Managing Broker License Renewal, you must:

  1. Complete Continuing Education
  2. Submit Your License Renewal Application
  3. Download Your New License

Complete Continuing Education

If you are feeling the pressure of this deadline and having flashbacks to writing a school book report the night before it was due – take a deep breath. The team at Real Estate Institute is here to help.

You must complete: 

  • 12 hours of Core and Elective CE, including:
    • 4-Hour Core
    • 1-Hour Sexual Harassment Prevention Training
  • 12-hour Broker Management CE course (curriculum updated this year)

See, not so bad. With your brains and Real Estate Institute’s support – you can knock those CE courses out in plenty of time.

We do want to remind all Managing Brokers that you can now complete your entire requirement anywhere, at any time with Online Distance Education.

Please remember, if you are a newly licensed Managing Broker renewing for the first time, you may be exempt from Broker Management CE. Our team of professionals is happy to verify your requirement – reach out to us.

Submit Your New License Application

Once you’ve completed your required continuing education, the finish line is in sight. The next step is to renew your license with the IDFPR by application – you are required to pay a $200 renewal fee. Submitting your application can be achieved in one of two ways:

Real Estate Institute strongly recommends that you opt in for online renewal to ensure you meet the deadline. If you choose to renew by mail-in, request proof of delivery to ensure that it reaches the IDFPR by April 30th.

Download Your New License

At this point in your Managing Broker license renewal journey, we hope you breathe a sigh of relief. All that’s left to do is download a copy of your license once IDFPR has processed your application and notified you via email.

Ready to Renew your Managing Brokers License?

You now understand what is required to meet the April 30th deadline – begin your renewal process by visiting the IDFPR website.

What You Need to Know About Illinois Managing Broker License Renewal in 2021

The Illinois Department of Financial and Professional Regulation (IDFPR) recently e-mailed Managing Brokers, announcing that these licensees are officially “In Renewal,” which means the department is now accepting online license renewal applications.

If you didn’t receive this e-mail 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 you complete the required education.

Step 1 – Complete Continuing Education
Managing Brokers must complete 24 credit hours of continuing education (CE) consisting of 12 hours of core and elective CE plus the 12-hour Broker Management CE course. The specific CE requirements have changed for the 2021 renewal and include two new required courses: 4-Hour Core and Sexual Harassment Prevention Training.  Additionally, the Broker Management CE curriculum has been updated for 2021. 

Also new for 2021 – Managing Brokers can complete their entire requirement anywhere, at any time with Online Distance Education.

All of Real Estate Institute’s CE courses are compliant with the new requirements. To learn more about the recent education changes, click here

Note: Some newly licensed Managing Brokers renewing for the FIRST time may be exempt from Broker Management CE.  The licensing professionals at Real Estate Institute are happy to verify your requirement. If you are newly licensed, simply reach out.  We’re here to help!

Step 2 – Submit Your New License Application
After you have completed your continuing education requirement, you must renew your license with the IDFPR. There are two ways to renew your license:

  1. Renew 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 paper application.

Step 3 – Print Your New License
Once the IDFPR has processed your license renewal application, you should receive an e-mail indicating that your new license is available. Upon receiving this e-mail, you may log in and download or print a copy of your license. Note: Managing Brokers are required to carry a printed or electronic copy of their license.


Real Estate Institute has been a leader in real estate education for over 25 years. Our team of compliance 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.

What’s Changed for Illinois Real Estate Managing Broker Continuing Education?

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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.

 

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.

 

Online Real Estate Licensing and Company Renewals

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By now, you probably received this notice from the IDFPR’s Division of Real Estate (DRE), which advises all real estate licensees that beginning October 1, paper applications for new licenses and renewals (for most license types) will no longer by accepted.  Instead, applicants must use the Online Services Portal.

The move to online licensing significantly speeds up the licensing process by automating tasks that formerly required more than one person or department to intervene.

When to Use Online Licensing Services

Beginning in October, the Online Services Portal should be used to:

  • Apply for a new license
  • Renew an existing license
  • Request a change of sponsorship
  • Terminate sponsorship
  • Update or make changes to licensee information

What About the 45-Day Sponsor Permit Card?

The new online workflow eliminates the need for a temporary sponsor permit card. As a result, this document will no longer be accepted by the DRE. Instead, Leasing Agents, Brokers, and Managing Brokers must use the Online Services Portal to request that their license be sponsored by a Managing Broker or licensed organization. Using this new system, a change of sponsorship can be completed within days.

Special Notice Regarding Branch Renewals

Last month, Gov. Bruce Rauner signed HB5210 into law, which eliminated the requirement for licensed real estate businesses to obtain an additional license for each of their branch office locations. This change will reduce costs and administration for real estate brokerages.

However, it will take some time for the DRE to fully implement this change and put in place an alternate process to ensure the DRE remains aware of locations where a brokerage conducts business with consumers. In the interim, these licensees must renew their branch license, but the DRE will waive the fee typically required for renewal. Branch license renewals are due by October 31, 2018 and may be renewed online here.

In Closing

Most licensees are having a positive experience with the new systems and online features, but as with any new process, there will be some quirks and problems to overcome. For example, we’ve already seen that the Online Services Portal lacks key features required by larger organizations, such as the ability to delegate access to non-licensed users who are responsible for license administration within the organization. Thankfully, the DRE has been very responsive to feedback and ideas. They are acting fast to fix bugs and make long-term improvements through ongoing investment in the technology.

If you have ideas for updates or new features for the Online Services Portal, let us know. We frequently participate in IDFPR meetings, sharing feedback we’ve received. You can comment on this blog post or send us feedback through the Contact Us form on our website.


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

Three Things That Every Illinois Real Estate Broker Should Remember About Disclosing Their Status as a Licensee

Real estate brokers help to create successful transactions for their clients, but they often participate in their own transactions, too. This may include buying or leasing a primary residence, the purchase or sale of investment property, etc.

When an Illinois licensed real estate broker engages in a transaction, there are special disclosure requirements that can be easily overlooked. In general, these requirements are in place to ensure that the other party in a transaction is aware of the licensee’s status – because the licensee is perceived to have more knowledge and therefore may be able to take advantage of the other party.

Failure to disclose that you are a licensee is a violation of license law that may expose you to penalties up to and including revocation of your license.

Key Requirements

  • Disclosure must be made to all parties when a licensee is selling, leasing or purchasing any interest in real property.
  • Disclosure must be made in writing.
    • You may do so when you first meet or interact with the other party or include the disclosure as part of your written offer.
    • If you include the disclosure on a contract that you submit, avoid adding a small note next to your signature (on the last page). In the past, the IDFPR has suggested that licensees add the required text in large/clear print at the top of the contract to ensure that the receiving party sees it before they review and sign the contract.
  • Disclosure requirements apply to the following parties:
    • Sole owners.
    • Joint tenants and tenants by the entirety.
    • Land trusts.
    • General partners in a partnership.
    • Officers, directors, majority shareholders and controlling shareholders of a corporation.
    • Managers or majority or controlling members of a limited liability company.
    • Anyone else with a direct or indirect interest in the subject property.

Business Entities

It’s noteworthy that licensees often get into trouble when a business entity is involved in the transaction. It’s critical to remember that brokers must disclose their status even when they are not personally a party to the contract. For example, Happy Investments LLC may be the buyer, but if Lucy Licensee is a manager of that LLC, she must still make the required disclosure.

Final Advice

Lastly, although it’s not required by law, it never hurts to also communicate orally to help ensure the other party has received your notice. You may even consider asking for a written acknowledgement of the disclosure.


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

IDFPR Introduces Online Licensing for Real Estate

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Streamlining New License Application Processing

Over the past two years, the Illinois Department of Financial and Professional Regulation (IDFPR) has moved to implement more efficient processes that streamline the ways we interact with government.

This month, the Real Estate Division took a big step forward with the introduction of an online licensing process for new license applicants. Initially, this feature is being offered to Brokers and other individuals who have recently passed a state licensing examination.

What License Applicants Should Know

Up until now, individuals who passed the state license examination (currently administered by PSI/AMP) were required to complete and submit paperwork that is provided to them immediately after their examination. Because Illinois Real Estate Brokers are required to be sponsored by a Managing Broker, they must identify which person or company will sponsor their license. A license cannot be issued without a sponsoring broker.

While the paper-based process is still available (for now), information about successful exam completions is now being transmitted from PSI/AMP to the IDFPR. Upon receipt and processing, the IDFPR will send the individual an e-mail that invites them to apply online for their new license. The online application process eliminates the need to submit paperwork and payments by mail.

Applicants who take advantage of the new online portal will enter all required information electronically, including attachment of required documents and payment – by credit card or electronic check. Importantly, the applicant will be required to identify the sponsoring/managing broker with whom they seek to affiliate. Once submitted, the applicant will be able to monitor the status of their application. Upon approval by the IDFPR and sponsoring broker, the applicant will receive an e-mail notification that their new license has been issued.

What Sponsoring and Managing Brokers Need to Know (and Do)

This new process impacts two major areas for sponsoring brokers:

  1. 45-day permit sponsor cards
    With the traditional paper application process, there was a long delay that resulted from mailing, check processing, and application review. The 45-day permit helped to eliminate bottlenecks and enabled new licensees to get to work quickly. With the introduction of online licensing, most of these bottlenecks have been eliminated, which means that new license applications can be approved in just a few days. As such, there is no longer a need for sponsors to issue a 45-day permit.

  2. Online approval (or rejection) of sponsorship requests from licensees
    As new license applicants submit their online application, they will be required to choose their sponsoring/managing broker. (The IDFPR website will provide a list they may search/choose from.) As part of the application approval process, an e-mail will be sent to the sponsoring/managing broker with a notification that directs them to log in and approve or reject the applicant’s request. Therefore, it’s critical that sponsoring licensees have a valid e-mail address on-file with the IDFPR and monitor their inbox for these important messages. (Messages will be sent by FPR.Notice@Illinois.gov)

What’s Next?

Development of the online licensing portal is ongoing and soon, an online application process will be available to real estate business license applicants (Corporations, Partnerships, and LLCs). Sometime later, sponsoring and sponsored licensees will be able to request and approve sponsorship changes through an online process.


Real Estate Institute has been a top real estate education provider in Illinois for 25 years. Our students have consistently outperformed other state exam candidates. A reputation for highly-rated instructors and superior customer service explains why we have over 150,000 alumni nationwide.

The One Resource Your Real Estate Brokerage Might Be Missing

Hands_Holding_String_of_LightsBookkeeping, recruiting, marketing, budgeting … the list of demands on a managing broker or office manager is long and varied.  From budgeting software to interior design, real estate brokerages rely on tools, resources, and consultants to get the job done efficiently and effectively.  While it may or may not be immediately apparent, a relationship with an IDFPR-approved real estate school can go a long way to help with compliance and recruiting.  When selecting a school to support your office success, make sure it has the following resources.

  • Customer Service Team – You need a school with a team of individuals dedicated to helping your agents.  A good customer service team is not only knowledgeable about the school’s courses, but can answer questions about initial licensing and the licensing renewal processes.   
  • Designated Contact – Sometimes, managing brokers and managers have questions or concerns with company compliance.  Organizing continuing education for the office or questions about the licensing process during an acquisition, for example, are very common issues that a school can assist with.  Having a designated contact who can help you address these issues can be an invaluable resource during stressful times.
  • Helpful Resources – Understanding the needs of a real estate business should be important to the school.  Tools to help you recruit new agents and maintain the ones you have should be available from the school you choose.

If you have any questions about how Real Estate Institute can help, visit our Contact Us page or call Tanya Rinsky, Director of Strategic Client Relationships, at (847) 423-5006.

Real Estate’s Leadership Crisis

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With over 94% of real estate brokerages running in the red, one of the biggest challenges we see in the industry is a crisis of finding and developing tomorrow’s company leaders.

The problem stems from the fact that most real estate brokerage managers/owners, despite being good salespeople who have risen to a certain level of success in their own real estate production, aren’t necessarily good business owners. Typically, these producers get fed up with current company leadership and start believing they can do it better. They then launch out on their own with their new company, only to fail more than 75% of the time.

So how do we help prevent this craziness? The answer is simple: Training.

Companies need to develop and/or outsource leadership development programs that can help train their own agents to be leaders. Unfortunately, most companies refuse to do this, out of fear that they’re simply training a future competitor. As a result, the task falls on trade organizations and real estate schools. The National Association of Realtors®, through its various member-only subsidiaries, used to have one of the best programs available to learn how to start, grow and maintain a successful brokerage. Unfortunately, over time this program became watered-down and has virtually disappeared.

So, the gap in professional education falls to the real estate schools or seminar trainers/consultants. One such school in Illinois, Real Estate Institute, has launched a two-day program called “Building & Growing Your Real Estate Brokerage” in conjunction with my seminar company and based upon my book, “The Real Estate Entrepreneur.” This intensive crash course covers the essential information that future brokerage leaders should have before launching into company ownership, or at the very least, within the first two years of ownership.

The program covers such essential topics as:

  • The Importance of Your Company Vision
  • Your Niche
  • To Franchise or Not to Franchise
  • Policies and Procedures Issues
  • Commission Structures From the Inside Out
  • Targeting and Recruiting Agents
  • And More! 

This course will save a future broker-owner THOUSANDS of dollars in wasted time and energy. Kudos to the Real Estate Institute for stepping up and filling the leadership educational gap in our industry.



Cliff Perotti is a 32-year veteran in the real estate business and has consulted with some of the largest brokerages in the world.  He holds 11 national designations and is the author of “The Real Estate Entrepreneur… A guide to Launching & Growing a Real Estate Brokerage” (McGraw-Hill).


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.