Illinois REALTORS® General Counsel Betsy Urbance and Legal Hotline Attorney Anneliese Fierstos hosted a live Zoom event answering questions about changes to the Real Estate License Act (RELA). If you missed the live review, or want a refresher, watch now!

Time: 8:42 | You will learn about:

• ensuring protection of private property rights
• seeking positive changes for REALTORS®
• process behind rewrite every 10 years
• efforts with IDFPR and IL General Assembly

Time: 11:10 | You will learn about:

• moving away from paper licenses and sponsor cards
• email notices replacing paper
• virtual offices
• privacy and storage of electronic records

Time 19:18 | You will learn about:

• The age limit change for brokers and managing brokers
• Continuing education changes for brokers and leasing agents
• Managing broker responsibilities: earnest money, contract negotiations for new licensees

Time 10:19 | You will learn about:

• Illinois Real Estate Recovery Fund changes
• “wholesaling” vs. flipping or investing
• what constitutes a compliant Guaranteed Sales Plan

Time: 16:24 | You will learn about:

• absence of “ministerial acts”
• new continuing education categories
• compensation entities and rules for married licensees
• CE becoming a finable offense
• what an unlicensed personal assistant can’t do
• criminal histories

Join Illinois REALTORS® Chief Legal Counsel Betsy Urbance and Legal Hotline Attorney Anneliese Fierstos as they walk you through the changes to the Illinois Real Estate License Act in our new six-episode web series.

Teams and Advertising. Licensing and Education. Going Paperless. The Rules are changing. Let us help you protect your business. Must-see RELA Web Series — the Rules of the Real Estate License Act — coming next week!