Illinois Real Estate License Transition Period Ends in April 2012 - Have You Taken The Exam?
As most agents and brokers in Illinois know, the license law requires us to transition to the new licensing requirements: from salesperson to broker, from broker to managing broker. The transition period ends in April 2012. We even have a transition clock which is kinda neat, like the national debt clock, only not as scary.
Essentially, we're all going to be brokering real estate come May 2012 (this is focused on selling and buying real estate, not appraisals or others). No salesperson licenses have been issued since this past April. Everybody will be brokers, but broker managers have the distinction of being Managing Brokers. All our business cards will show that Yolanda Hoversten is a Broker (which I am now). If I were hired to manage an office or branch I could transition to Managing Broker provided I pass the exams and complete the necessary CEs. However if I don't manage an office or branch, I'm merely Managing Broker Eligible, which I can't advertise. Nice. All manager brokers now will transition to Managing Broker licensee. Confused yet? If not, keep reading -- it's simple really.
Prior to the transition, a high school graduate could take the 45 hour salesperson course, pass the national and state exams, pay the dues, find a broker sponsor, then list and sell real estate. All is good.
Prior to transition, a licensed salesperson could earn a broker's license provided they took the necessary courses, passed the exams, and paid the higher dues, which I did. With the broker's consent, the licensee could call himself or herself a Broker or an Associate Broker whether they managed an office or not. Broker Managers go through the same courses, pass the national and state exams, pay the extra dues for the broker manager's license, find a broker sponsor, get hired as a broker manager, and all is still good.
If you now possess a Salesperson License you can take a one-time proficiency exam (no retakes allowed) and take 18 hours of CE by April 30, 2012. Or you can take the 30-hour transition course (and pass the exam).
If you now possess a Broker License and want to remain a broker and not obtain a managing broker license, you will just need to complete 12 hours of CE to renew your broker license.
Managing Broker License:
If you already have a Broker License you can take a one-time proficiency exam (no retakes allowed) and complete 18 hours of regular CE and 12 hours of broker management CE by April 30, 2013. Or you can take the 45-hour transition course (and pass the exam,) and complete the 18 hours of regular CE by April 30, 2013.