I appreciate all of your comments on my previous post. Thank you Lenn, for letting me know how to change my settings to eliminate unwanted spam.
I apologize to all who view this as an ad, agree with you and will be editing it in a different way. It was not my intent to make this post a blatant ad, but to get the word out to Illinois brokers and agents that pre-license classes were now available and felt that active rain would be a good way to do so.
Because of the changes to the Illinois License Act that I have shared previously, there have been no real estate pre-license classes available in Illinois. The last real estate salesperson's exam was given on March 15 and the new broker exam is scheduled to begin April 8.
Many licensees and potential licensees have been inquiringabout obtaining an Illinois real estate license and when I explained the situation realized they had to wait until pre-licensing classes became available.
Classes became available May 1 and I have been attempting to notify as many people as possible in as many way as possible and this post was one of those ways. It certainly seems to have attracted some attention.
However, I certainly could have done the post differently and will be correcting it. I realize now, that I could have share the information with a link back to our school and its class. I apologize for posting an add, because as some have suggested, it certainly can be perceived that way.
I appreciated particularly appreciated the comments that overlooked the advertising issue and commented on the topic.
The salesperson name was changed to broker with no change in responsibility as has been noted by some, but other parts of the process may well serve to professionalize the real estate industry in Illinois. It was not simply a name change, but a name change bringing significant changes in educational requirements.
Existing licensees have not been grandfathered in to a name change. When Governor Quinn signed Senate Bill 1894 (significant changes to the License Act) it was announced that the bill's stringent education requirements help to ensure that Illinois' real estate agents are fully trained and up to date on Illinois real estate laws and home buyer protections.
Existing salesperson licensees must transition to the new broker name by passing a proficiency exam administerd by the state testing service, Applied Measurement Professionals or complete an addition 30 hours of transitional education. As a "broker" they must be associated with a licensed entity and supervised by a managing broker.
Existing broker licensees may remain brokers, but if they do not transition to manging broker before the next renewal, they too, must be associated with a licensed entity and be supervised by a managing broker.
Any broker wishing to be a self-employed broker or wishing to manage a licensed business entity must transition to managing broker. They may transition by passing a proficiency exam or completing an additional 45 hours of coursework. In addition, the managing broker will need 24 hours of continuing education every renewal period and 12 of those hours must be in state mandated broker management topics.
The new license, as of May 1, 2011, must complete 90 hours of pre-license education, 30 hours of post license education prior to first renewal and if they wish to become a managing broker, must be licensed for 2 out of the past three years, complete a 45 hour broker management course and pass a state exam.
These changes will significantly impact the real estate industry in Illinois. It is expected that 25% or more of existing licensees will surrender their licenses in light of the new requirements. Due to increase costs in licensing and education real estate sales will become a career decision rather than something to try. Licensee's will be better educated serving both the public and the industry.
The total impact remains to be seen, but there is no doubt the face of the Real Estate Industry in Illinois has changed. For better or worse? Only time will tell.