Four IDFPR Website Features Every Sponsoring Broker Should Use

Computer_Phone_Notebook_IDFPROver the past few years, the Illinois Department of Financial and Professional Regulation (IDFPR) has taken big steps to offer more information and services at its website. The resulting features offer some efficiencies that most real estate sponsoring brokers haven’t yet discovered. Here are four features you should use:

  1. This easy-to-use lookup tool enables consumers, licensees, and others to check the status of a professional license. For sponsoring brokers, it offers these important features:

    • Check to see whether your personal or business license is in good standing. (Look for an “ACTIVE” status.)
    • View a list of all licensees (e.g., Managing Brokers, Brokers, Leasing Agents) who the sponsoring broker currently sponsors. (See the list of “subordinate” licensees.)
    • Using the above list, you can confirm that the sponsored licensees have an “ACTIVE” status. TIP: It’s especially important to do so at the start of a renewal period. It’s not uncommon for licensees to overlook the renewal … and you need to be sure that they are currently licensed to practice.

       

  2. Use this feature to print an official copy of your license(s). This is especially important for sponsoring brokers, who are still required to display a copy of the license for each sponsored licensee.

  3. Using the Online Services Portal, individuals and businesses can apply for a new license. This currently includes:

    • Leasing Agent, Broker, and Managing Broker license candidates who recently passed the state exam
    • Pre-License and Continuing Education Instructor candidates
    • Real Estate Businesses, including Corporations and LLCs
    • Real Estate Branch Offices

    New licensee candidates should be encouraged to use this system, which offers faster processing and online payment of the license fee(s).

  4. This is a big one. Now, sponsoring and sponsored licensees can request a change of sponsor without relying on paper forms. This means that it’s no longer necessary to use the 45-day sponsor card and mail in the corresponding form and fees to the state.

    To use this feature, you must create an account and login to the Online Services Portal . Once logged in, click the Online Services menu, then Licensure Options.
    Online Services Menu

    Using this feature to initiate a change of sponsor request will trigger an automated, online process. The terminating sponsoring broker, new sponsoring broker and licensees will all be notified of the request by e-mail. Below is an example of the message a sponsoring broker might receive.

    Four IDFPR Website Features Every Sponsoring Broker Should Use - E-Mail

    The affected licensees will have three days to respond affirmatively. If the required approvals are not provided, the request will be cancelled.

    TIP: Be sure to have your e-mail address on file with the IDFPR. You can provide or update that here.

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


Instructions for Completing Your Illinois Real Estate License Transition Application

What does it take to really complete the license transition? Many agents believe that once they’ve completed the education requirements, they are finished. This misunderstanding may cost you dearly. Completing the education requirement is only the first step in the process.

Step 1
Either complete a transition education program or pass the state proficiency exam. If you are unsure whether you have satisfied this requirement, please contact the state-approved school where you enrolled. If you passed the proficiency exam, the school was notified and should have contacted you. If you completed a transition education program, you should have received a certificate of completion from the school. You will need this certificate to complete Step 2.

Step 2
Send in your new license application. All applications for license transition must be received by the Illinois Department of Financial & Professional Regulation (IDFPR) no later than April 30, 2012. To apply for your new license, choose the scenario that applies to you:

Scenario 1: You completed a transition education program.
You must apply for the new license using the state’s paper transition form and pay the state fee.

  • Real Estate Institute students received an envelope with their certificate of completion, state transition application form and even an envelope addressed to the IDFPR. Don’t forget to include your check or money order for the transition fee.
  • Students from other schools must go to IDFPR RE Transtion and click on “Transition Forms.” You must include your certificate of completion (provided by the school) and payment.

Scenario 2: You passed the proficiency exam.
You have the option of applying for the new license online or on paper. Your results have already been transmitted to the IDFPR by the state’s testing service (AMP).

Scenario 3: You are a broker and do not want to transition to the new managing broker license.
You are not transitioning to a new license type and will lose your ability to self-sponsor or manage other licensees; therefore, you do not need to apply for a new license. You must complete 12 hours of continuing education before your license renewal.