Once signed by the governor, the rewrite of the Illinois Real Estate License Act of 2000 (SB 1894) will go into effect December 31, 2009. The license law rewrite will bring changes, but the Illinois Association of REALTORS® will be there to provide information, answer questions and make your transition a smooth one.
Watch this video from IAR President Mike Onorato about www.IARlicenselaw.org, the new Web site IAR has created to be your resource for the latest news and information.
At www.IARlicenselaw.org, you’ll find license law talking points, Q&As, the text of the legislation and the list of provisions – including advertising, disciplinary and agency rule changes – that go into effect December 31. Other provisions, such as the changes in licensure categories and required coursework will be phased in over a longer time period.
For example:
- Salespersons as of April 30, 2011 have until April 30, 2012 to either pass a proficiency examination given by a course provider OR take 30 hours of education and pass an exam. NO new salesperson licenses will be issued by the State after April 30, 2011.
- Existing brokers, who do not choose to act as a managing broker, have no transitional requirements.
- Those brokers on record as managing brokers with the Illinois Department of Financial and Professional Regulation on April 30, 2011 will have until April 30, 2012 to either pass a proficiency examination, given by a course provider OR take 45 hours of education and pass an exam.
Go to www.IARlicenselaw.org to learn more and check the site frequently as information will be updated.
