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Illinois To Become an All Broker State

In order to adequately prepare someone to represent the public in a real estate transaction, Illinois is in the process of transitioning to an all broker state.

There will be two categories of real estate sales licensees; broker and managing broker. Increased education and an experience requirement have been incorporated into the rewrite of the Illinois Real Estate License Act.

Real Estate Course work and proficiency exams will be determined by Administrative Rule and will be offered through licensed Illinois real estate schools.

The Revised Act is awaiting the Governor's approval and when signed will become effective on December 31, 2009.

We will keep you posted as more details become available.

Mike Fair, Director

Illinois Academy of Real Estate

Posted by Michael Fair on 11/13/2009 02:39 PM

Comments (3)

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3 Comments on Illinois To Become an All Broker State

NOV

This is interesting Michael. What are your thoughts on this becoming a requirement?

As an Illinois Broker I think this a great move in the right direction. It will be interesting to see what fall out we get in terms of agents not moving forward and brokers moving back to other companies. From 2 agents in my office I get totally opposite views-1 said she may not bother, the other said, about time. I for one welcome the additional education and training needed to work in the industry.

Heather,

It will probably thin the herd, which could be a good thing. Right now, I am really taking a "wait and see" approach. Only time will tell as the law is enacted.

Corinne, while I am and have been a broker for over 30 years, I am self sponsored and not active in the field. I am very interested in the response of active brokers. Thanks for the comment.

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