Two years ago the State of Illinois institiuted required courses for measuring the competence of those who hold the "Broker's License". It accomplished its objective - weed out those who should not be brokers. Surprise !!! Sme brokers took the optionT to go back to salesperson.
That was four years ago. Now Illinois Real Estate License Law, amended for January 2010, elininates the salesperson classification effective May 1, 2012. What do you think will happen to all those brokers who opted to become salespersons? Do you think they can go through broker licensing with flying colors?
What I believe is that there will be a reductioin in the 39,000 agents in the Chicago market area, and the intended result will be realized - Real Estate agents that are competent in their task.
This may backfire. Now salespeople are sponsored by brokers who have the responsibility of supervising them. May 1, 2012 no one will be supervising anyone and it becomes the State of Illinois's responsibility. They have attempeted to cover that gap by having Broker Managers, but if you don't want to manage other salespeople you can just have an individual company. I fail to see how this is a plus.
There currently are single company brokers who have no clue about what their responsibilities are, and I am not sure this change will cure that.
Comments(3)