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
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