It has been coming for a long time, and the Illinois License Law is now here. There is one basic change in licensing, no more Salesperson license. Everyone needs to pass a proficiency test to become a Broker or Managing Broker. From what I can tell, not too many agents are particularly happy about the change, however, some feel it will ensure a better quality of agent.
The proficiency testing has officially begun for Illinois Real Estate Agents. Licensees all over the state are preparing to pass the proficiency examination. You may have heard that the state has created two tracks for current salesperson licensees: take a one-time proficiency exam or a 30-hour transition course.
Right now, the only option available to transition your license is to take the exam. The transition coursework is not yet available. The IDFPR is finalizing the rules that are required for the implementation of transition course programs. Word on the street is that these programs may not be available until sometime in the spring.
The proficiency exam was created by Applied Measurement Professionals (AMP) and is administered by approved schools like the Real Estate Institute. The exam is available in paper-based or computer-based formats. Those that take the computer-based test receive instant results. This will be a long blog, because below will break down ALL the details for you!
According to Real Estate Institute’s http://www.instituteonline.com, Alan Tobin “We offer daily computer-based testing in the Chicago area. The testers we’ve seen have done very well. Those that take the computer-based test are relieved that they don’t have to wait three weeks for their results. We’ve also received consistent feedback about the examination. Tester’s that passed were definitely glad they prepared.” Alan added, “They tell us that the exam is ‘tough but fair’ which was the goal in creating the exam.”
COMPLETE LICENSE DETAILS BELOW. PROVIDED BY Chicago Association of Realtors http://www.chicagorealtor.com/
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If you are a broker who wants to remain a selling broker (non-managing):
Brokers licensed by April 30, 2011, can transition by completing 12 hours of continuing education (6 core and 6 elective hours) and renewing their licenses with the IDFPR on or before April 30, 2012.
If you are a broker who wants to become a Managing Broker:
- Illinois Brokers licensed on or before April 30, 2011, who want to retain managing capacity, will transition to a Managing Broker licenses.
- Sole proprietors must complete the transition to Managing Broker by April 30, 2012.
Options to Complete the Transition
Proficiency Exam
Passing the Broker to Managing Broker proficiency exam before March 15, 2012, and applying for a Broker license with IDFPR on or before April 30, 2012. Additionally, 12 hours of continuing education (6 core and 6 elective hours) must be completed by April 30, 2012, and an additional 6 hours of continuing education (3 core and 3 elective) by April 30, 2013. This totals 18 required hours of continuing education to be completed by April 30, 2013.
- Brokers who elect this option may take the proficiency exam only ($50-Dates for testing coming soon) or enroll in a 4-hour preparatory course to review before taking the exam ($105 for the course and exam).
- There are no re-takes. Brokers who do not pass the proficiency exam will be required to complete the 45-hour Broker to Managing Broker transition course (see below) and then pass a pre-licensing exam.
Course Work
Completing a 45-hour Broker to Managing Broker transition course and passing a pre-licensing exam on or before April 30, 2012. Applying for a Broker license with IDFPR before April 30, 2012.
- Brokers who elect this option may enroll in the 45-hour course after April 30, 2011, when it becomes available.
- Brokers who complete the 45-hour course and do not pass the pre-licensing exam may re-take the exam.
- This option includes an additional 18-hour continuing education requirement (9 core and 9 elective hours) to be completed by April 30, 2013.
- An additional Broker Management course is not required.
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