We're all in store for a lot of changes. The major change, everyone is talking about, is the elimination of the "Salesperson" license. By April 30, 2012, all salespersons must become brokers. The exact educational requirements are not yet certain because they are set by "Rule" and the administrative rules have not yet been written.
Those of us with brokers licenses or those currently enrolled in a broker course have no concern. There is a window of opportunity right now for agents to get their brokers license and avoid the rush ... and the unknown.
We have a broker license course starting March 17th in Lake Zurich. If you want to get done now ... give us a call and we'll get you enrolled.
ANOTHER POINT ...
The education requirements for obtaining a real estate license will more than double next year. If you know anyone who would like to consider entering the real estate business please have them call. They can still obtain a license with the current 45 hour requirement but that will be over soon.
Vince DePaulPrudential Starck RealtorsSchool Office630-307-3467
Tuesday, January 12, 2010
Saturday, January 2, 2010
Gov. Quinn signs the new Real Estate License Act
Gov. Pat Quinn has signed the rewrite of the Illinois Real Estate License Act of 2000 which took effect January 1, 2010. Nothing like waiting until the last minute, hey, Governor.
The new license law is much the same as the old law but does include changes to the license categories that we've all heard about. But, don't panic. Those changes will be implemented over the next two years (through April 30, 2012) giving licensees plenty of time to make the transition.
Under the new law, “salespersons” will become “brokers” and existing “managing brokers” (office managers) will transition into the new category of “managing brokers.” If you already have a brokers license or are currently working on obtaining it, you don't have to do anything.
Some parts of the new law do take affect immediately such as new forms and amended language to some old forms. Be sure to check with your managing broker or you can find those new and amended forms at http://www.iarlicenselaw.org/.
The license law rewrite brings a lot of changes ... and let's face it change is not always easy. However, we're professionals and we will all adapt. Just keep you checkbook handy ... IAR stands to make a lot of coin from this new law.
The new license law is much the same as the old law but does include changes to the license categories that we've all heard about. But, don't panic. Those changes will be implemented over the next two years (through April 30, 2012) giving licensees plenty of time to make the transition.
Under the new law, “salespersons” will become “brokers” and existing “managing brokers” (office managers) will transition into the new category of “managing brokers.” If you already have a brokers license or are currently working on obtaining it, you don't have to do anything.
Some parts of the new law do take affect immediately such as new forms and amended language to some old forms. Be sure to check with your managing broker or you can find those new and amended forms at http://www.iarlicenselaw.org/.
The license law rewrite brings a lot of changes ... and let's face it change is not always easy. However, we're professionals and we will all adapt. Just keep you checkbook handy ... IAR stands to make a lot of coin from this new law.
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