Q & A on the Illinois Managing Broker License Renewal

By IAR Education Manager Carrie Elliott and IAR Legal Hotline Attorney Betsy Urbance

Betsy Urbance, Legal Hotline Attorney

Carrie Elliott, Education Manager

By April 30, 2013 Illinois managing broker licensees must have completed the continuing education (CE) requirements and applied to renew their license through the Illinois Department of Financial and Professional Regulation (IDFPR).

 What is Required | Questions and Anwers

Q: What if I have too many Core CE hours and not enough Elective?

Your Core hours will count towards Elective CE hours, however elective hours do not count towards your Core requirement. Keep in mind that credit hours for the same course cannot be repeated within the same cycle.

Q: I took CE before the transition deadline last year. Will that count for my renewal?

If you are a broker who has transitioned to managing broker, continuing education completed from 5/1/10 through 4/30/13 will count towards the 4/30/13 renewal.

Q: When is the IDFPR renewal open? It is open now.

Visit https://www.idfpr.com/renewals/RealEstateManagingBroker.asp. You can renew online with a credit card or print a paper copy and mail in your renewal to the Illinois Department of Financial and Professional Regulation, PO Box 7086, 320 West Washington Street, Springfield, IL 62791.

Q: I’m from another state, what do I need to do to be a Managing Broker?

Review IDFPR’s Reciprocity Application for Licensure Under the Real Estate License Act https://www.idfpr.com/DPR/RE/Forms/recip.pdf

Q: I’m a licensed attorney in good standing in the State of Illinois. 

What do I need to do to renew as a managing broker? You will just be required to complete the renewal forms and pay the license renewal fees required by IDFPR. You are EXEMPT from all continuing education including the Broker Management CE.

Q: How can I find out what continuing education hours I already have? 

Use the Illinois Association of REALTORS® Education Lookup: http://www.illinoisrealtor.org/lookup to check your EDUCATION CREDITS for courses taken AND PASSED through the Illinois Association of REALTORS® Licensing and Training Center.

Q: Why can’t I find my CE hours on your website? 

If you took your CE through a provider other than the Illinois Association of REALTORS® Licensing and Training Center or your local association, your CE will not be reflected in IAR’s Education Lookup. You will need to contact the other school directly for your records.

Q: If my license is in a “holding company” do I still need CE?  

Yes. Your “holding company” is your sponsoring broker so you hold an active sponsored real estate license. You are, thus, subject to CE requirements.

Q: I transitioned by taking the 45-hours and took the Broker Management CE by mistake. Can I use any of these hours?

Yes, you can use the Broker Management CE hours as Elective CE hours for your regular CE requirement.

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