In Illinois, the three most important words in real estate are transition, transition and transition. Due to a signicant amending of the Illinois Real Estate License Act, Illinois real estate licensees will be facing significant changes in Illinois real estate licensing and real estate education.
As of May 1, 2012, Illinois will no longer have a real estate salesperson's license. The entry level license is now a newly defined broker's license which requires 90 hours of pre-license education and 30 hours of post license education. Current Licensees are not exempt from the changes.
All licensees currently holding a salesperson's license must transition to the "new" brokers license by April 30,2012. Failure to do so will result in the loss of license and future re-licensing would fall under the new broker licensing requirements.
There are two options available to meet the transition requirement. The licensee's may complete a proficiency exam administered by Applied Measurement Professionals (AMP), the states real estate license testing service, or complete a licensed 30 hour course provided by a licensed Illinois real estate school. If the licensee fails the proficiency exam, he must successfully complete the 30 hour class.
Licensee's choosing to transition by proficiency exam must complete 18 hours of continuing education prior to April 30, 2012. Continuing education requirements are waived for those who complete the 30 hour class. The class may be completed on a home study basis or in an actual class setting. It appears that the class option is the more popular option due to the fact that the licensee completes a school exam and no testing service profieciency exam is required and that continuing education requirements are waived.
All licensees holding a broker's license that are self-sponsored or manage a real estate office must transition to the "new" managing broker's license. Failure to do so by April 30, 2012 will result in the loss of ability to self-sponsor or manage a real estate office.
There are two options available to meet the transition requirement. The licensee may complete a proficiency exam administered by Applied Measurement Professionals (AMP), the states real estate license testing service, or complete a licensed 45 hour course provided by a licensed Illinois real estate school. If the licensee fails the proficiency exam, he must successfully complete the 45 hour class.
Licensee's choosing to transition by proficiency exam must complete 30 hours of continuing education prior to April 30, 2013. 12 hours of broker managemnet continuing education requirements are waived for those who complete the 45 hour class. The class may be completed on a home study basis or in an actual class setting. It appears that the class option is the more popular option due to the fact that the licensee completes a school exam and no testing service profieciency exam is required and that continuing education requirements are waived.
As of May 1, 2012, transition provisions no longer apply. Any individual who desires a real estate license, must meet the new more stringent requirements. The AMP proficiency exam will be offered until March 15. A licensee may still meet transition requirements by completing coursework and submitting application no later than April 30, 2012.
Licensee's currently licensed as brokers who are not sel-sponsored and do not manage a real estate office must complete 12 hours of continuing education and renew their license by April 30, 2012. As of May 1, 2012 these license will be unable to self-sponsor or manage a real estate office without meeting the current requirements.
In response to these significant changes, the Illinois Academy of Real Estate has merged with Your House Real Estate Academy. Because of this partnership, we are able to offer the classes necessary to meet the educational requirements of the Illinois Real Estate License Act. We offer transition classes, pre-license broker classes, post license broker classes and managing broker classes.
We are available to answer any question that an Illinois real estate licensee or prospective licensee might have.
