D.R. Legal News: Your Transition Checklists

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February 2011

Your Transition Checklists

License Law transition period runs May 1, 2011 through April 30, 2012

Legal counsel for the Illinois Association of REALTORS® have prepared the following checklists to help you understand the steps you and your agents need to take to transition to the new license categories in the rewrite of the Illinois Real Estate License Act (Public Act 96-856).

The transition period lasts one year and you may use the transition period to obtain one license. You will not be able to transition from salesperson to broker and then transition from broker to managing broker. If you seek two license status changes you will need to meet the regular/non-transition requirements to obtain one of the licenses sought. 

BROKER STAYING BROKER:

I am a broker licensee and I want to remain a selling broker and not manage. What do I do?

  • Take 12 hours of regular CE to renew your broker license on April 30, 2012. No new license is needed.

Download the transition flow chart (pdf): Broker choosing to remain non-managing broker

 

SALESPERSON TO BROKER:

I am a salesperson and now I want to become a broker licensee. What do I do?

  • First you must decide from these two options: 
    (1) Sometime between May 1, 2011 and April 30, 2012 take and pass an AMP-prepared/pre-license provider provided 50-question proficiency exam. (You only have one chance to pass the test.) 
    — OR — 
    (2) If you do not take or do not pass the proficiency exam then take a 30-hour pre-license provider prepared course and 50-question exam at the end. (You have four chances to take and pass the test.)

  • Then next: 
    (1) If you pass the proficiency exam, take 18 hours of regular continuing education (CE) to renew your broker license on April 30, 2012. (The renewal period is three years since salespersons renewed by April 30, 2009 – so at the rate of six hours per year, you would owe 18 hours.) 
    — OR —
    (2) If you take the 30-hour course/test option, no CE is due to renew your broker license on April 30, 2012.

Download the transition flow chart (pdf): Salesperson transitioning to broker

SALESPERSON TO MANAGING BROKER

I am a salesperson now and I want to hold a managing broker license before the end of the transition period. What do I do?

  • Choose one of these two options: 
    (1) Study for and take the test to get a broker license now before May 1, 2011 (additional 75 hours to get broker license prior to April 30, 2011); then use transition provisions to obtain the managing broker license. (See “Broker to Managing Broker” chart below.) 
    — OR —
    (2) Transition to broker license as outlined on page 4 during the transition period and take the hours required to obtain a managing broker license. Note that you must have been licensed for two of the last three years to obtain the managing broker license this way. (Section 5-28 of the Act)

 

BROKER TO MANAGING BROKER

I am a broker licensee and I want to get the managing broker license. What are my options?

  • First you must decide from these two options: 
    (1) Take and pass an AMP-prepared/pre-license provider provided 75-question proficiency exam. (You only have one chance to pass the exam.) 
    — OR —
    (2) If you do not take or do not pass the proficiency exam, take a 45-hour pre-license provider prepared and provided 45-hour course and a 75-question exam at the end. (You have four chances to take and pass the test.)
  • Then next: 
    (1) If you pass the proficiency exam, take 12 hours of Broker Management CE and 18 hours of regular CE to renew your managing broker license on April 30, 2013. (Note there will be a three-year renewal period since your broker license would have been renewed before April 30, 2010. This change will occur through the rules adoption process.)
    — OR —
    (2) If you take the 45-hour course option, there is no 12-hour Broker Management CE requirement for the first renewal, and you will only need 18 hours of regular CE to renew before April 30, 2013.* 

Download the transition flow chart (pdf): Broker transitioning to managing broker

*The rules currently on file call for a April 30, 2013 renewal date for managing broker licensees; they presume that all broker licensees have 120 hours of pre-license credits (no matter how their original broker license was obtained); and, any duly-licensed broker in good standing as of April 30, 2011 can avail themselves of the transition options to obtain the managing broker license.  

 

 

Breakout Text: 

Proficiency Exams, Prep Classes

For those who opt to take the proficiency exams for the License Law transition period, the exams are available now at more than 60 pre-license branch locations statewide. To help you get ready to take the state-approved proficiency exam, IAR has developed an exam prep training program also available at many of the branch locations. Note: Transition classroom courses will not be available until spring 2011.

Learn more at IARlicenselaw.org