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Illinois To Become an All Broker State

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Education & Training with Illinois Real Estate Academy/Your House Academy 471.012866

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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Heather Fitzgerald
REALTY WORLD-Harbert Company, Inc. - Greenwood, IN
REALTOR Greenwood Indiana Real Estate

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

Nov 13, 2009 06:47 AM
Michael Fair
Illinois Real Estate Academy/Your House Academy - Aurora, IL
Illinois Real Estate Educator

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.

Nov 13, 2009 07:58 AM
Randy Schulenburg
Schulenburg Realty, Inc. - Pingree Grove, IL
Schulenburg Realty, Inc.

As an Active Broker I view this change as one that is designed primarily to generate more revenue for the State of IL.  As a broker I have been through plenty of education and typically think most of it is pretty basic.  I'd like to see a change in the education system that rewards those who deserve better.  Perhaps an apprenticeship program similar to real estate appraisers would be appropriate.

Dec 31, 2009 08:30 AM
Anonymous
Mike Fair

Randy,

While the change may generate more income for the state (through a possible increase in license fees) I don't believe that is the primary intent.  I regularly attend the meetings of the educational advisory council of IDFPR and find that many of the proposed changes are based on complaints, and quite frankly, the complaints are basic.

Check out IDFPR's website and look at the disciplinary actions.  Agency violations, Escrow violations, not paying state income tax, writing checks to the IDFPR with insufficient funds and failure for brokers to adequately supervise their licensees.  Simple things that for some reason are not so simple for those who end up in front of the Disciplinary Board.

The State's answer is more education.  I agree to a point, but would support more proactive enforcement.  The current law is an apprenticeship type of situation.  Under the law, the broker is responsible for training and supervising the licensee, the reason for the state mandated broker management course.

The idea of an educational system with rewards is interesting.  What types of thought do you have about that?

Thanks for your comment,  Mike  

Jan 02, 2010 02:54 AM
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