Prior to renewing a license, the licensee shall be required to complete the continuing education between May 1, 2008 and April 30, 2010.
(There is no longer a CE exemption for licensees that were “grandfathered”).
• Licensed as a Broker on or before 4/30/2008, Or Brokers previously licensed as a Salesperson - 18 hours of CE is required:
6 hours core/mandatory, 6 hours elective, and 6 hours of the Broker Management Course.
• Licensed as a Broker between 5/1/2008 and 4/30/2009, if NOT previously licensed as a Salesperson, 12 hours of CE is required:
3 hours core/mandatory, 3 hours elective, and 6 hours of the Broker Management Course.
• Licensed as a Broker on or after 5/1/2009 and not previously licensed as a Salesperson, 6 hours of the Broker Management Course.
You may access the Real Estate License Act of 2000 and Administrative Rules Website at http://www.idfpr.com/DPR/RE/REALEST.asp
It is the responsibility of each licensee to properly renew their license. The licensee must accurately fill-out a renewal application and send the renewal application, together with the fee, to the Licensing Department in Springfield before the renewal date. If a renewal form is not received in the mail, it remains the responsibility of the licensee to file the renewal application. The licensee will also have the option to renew via Internet or telephone using a credit card.
Renewal Dates: April 30, 2010
Note - A person whose license has been expired for more than 2 years shall be required to meet the requirements for a new license, including completing all pre-license education and passing the exam. See Section 5-55(a) of the Act.
If you need additional information, please visit: http://www.idfpr.com/faq/BRE/toggleBRERealEstateFaq.asp
Accelerated Discount Learning Centers, Inc. offers a Broker Management 18 Hour Package for Real Estate Brokers to fulfill the requirements to renew their license before April 30th. The courses offered are:
6 hours of Broker Management
6 hours of Core A & B
6 hours of Ethics and Real Estate
New Federal RESPA rules became effective on January 16, 2009 and new forms are required to be used as of January 1, 2010. Lenders are required to use a new Good Faith Estimate form (GFEs) and a new HUD-1 Settlement Statement (HUD-1).
RESPA (Real Estate Settlement Procedures Act) is a HUD consumer protection statute which covers closing costs and procedures. It also requires that consumers receive disclosures at various times concerning fees involved in a closing and also prohibits cost inflating “kickbacks.”
These new rules standardize the Good Faith Estimates of Closing Costs, promote transparency, and allow buyers to make educated decisions when shopping for a lender. These new rules apply to all residential contracts.
As of January 1st, 2010 the amended Act created some new forms and amended some of the old forms. It is increasingly important that you are using the most recent forms. The forms can be downloaded at the Illinois Association of Realtors® website store.
As of January 1, 2010, the Act requires a written office policy for real estate brokerage offices. The written policy should include, but not limited to the following topics: Agency, Fair Housing, non-discrimination and harassment, clients’ confidential information, advertising, Sponsored licensees’ supervision and training, disclosures, risk management, earnest money and escrow handling as well as any other provisions the managing broker deems pertinent.
Accelerated Discount Learning Centers, Inc. is one of the first to offer Broker Management as a self-study format. We offer courses which fulfill the State of Illinois Continuing Education requirements.
Self-Study courses are ready for you any time—no waiting for the next seminar or webinar that fits into your schedule. All of our classes are Online. The distance learning format allows you to read at your own pace, when it is convenient for you. Sign up today and if you decide you would rather sit in a classroom, we will refund your money. No questions asked.
The Illinois Real Estate License Act of 2000 is intended to protect the public through the regulation of all real estate licensees. Although the Act was passed in 2000, it is amended each year.
On January 1st 2010 The Illinois Human Rights Act was amended by Public Act 96-447 (HB 721) which added “order of protection status,” as a protected class. What this means for housing is that housing cannot be denied to a person based on the fact that the person is covered by an order of protection in Illinois, or any other state.
Happy New Year! 2009 flew right on by. April 30th is going to be here before you know it. Brokers need to take a broker management course, along with 6 hours of mandatory courses and 6 hours of elective continuing education. To all of our students in 2009, we wish you a Happy and Prosperous New Year!
According to the IDFPR (Illinois Department of Financial and Professional Regulation) www.IDFPR.com website there are only ten continuing education schools which have been approved to provide the mandatory Broker Management course in an online format. There are over 20 schools that provide the course in a classroom setting, but only ten that offer the convenience of studying anywhere, anytime. Accelerated Discount Learning Centers is one of the companies approved to provide an online self-paced course.
