Exploring the Division of Real Estate

The Illinois Department of Registration and Education was established on July 1, 1917, as the original state agency with the authority to regulate real estate professions. Through time, the Department’s name and regulatory authority evolved and on March 31, 2004, the Illinois Department of Financial and Professional Regulation (IDFPR) was created.

Today, the IDFPR is composed of four Divisions:

·          Division of Banking

·          Division of Financial Institutions

·          Division of Professional Regulation

·          Division of Real Estate

The Division of Real Estate is the Division that regulates the following six professions and entities:

       
       ·          Appraisal Management Companies

·          Auction 

·          Community Association Management

·          Home Inspection

·          Real Estate Appraisal

·          Real Estate Brokerage

The mission of the Division of Real Estate is to serve, safeguard, and promote the public welfare by ensuring that qualifications and standards for licensed real estate related professions are properly evaluated, uniformly applied, and systematically enforced.

The Licensing and Education Section, headquartered in Springfield, IL, oversees the issuance of licenses to individuals who are determined to be qualified to practice in their chosen field. The Section also maintains licensing records and oversees the renewal of licenses.

The Enforcement Unit is headquartered in Chicago. It ensures that state laws governing the conduct and practices of real estate professionals across Illinois are upheld. The Enforcement Unit which consists of the Investigations Section and Prosecutions Section:

·         conducts compliance examinations

·         investigates allegations made against licensed professionals

·         prosecutes those cases that indicate a violation of law has occurred.

In an effort to increase the awareness of, and compliance with, the Illinois Real Estate License Act of 2000 and Administrative Rules, the State of Illinois developed a Real Estate Examination Program. The purpose of the program is to ascertain compliance with the Act and Rules by Illinois real estate sponsoring brokers. These examinations are conducted by the Division’s Real Estate Examiner.

In addition, the Division employs a team of professional investigators to gather evidence and verify consumer complaints.

Finally, the Division maintains a prosecutorial staff to bring Department complaints before an Administrative Law Judge.

Four boards and committees assist in the administration and enforcement of Illinois laws governing licensed real estate professionals. These boards and committees help establish standards and rules for the implementation and enforcement of licensing and education, review case files, and recommend disciplinary action to the Department.

The Division’s Boards include:

·         Real Estate Administration and Disciplinary Board

·         Real Estate Appraisal Administration and Disciplinary Board

·         Auction Advisory Board

·         Community Association Manager Licensing and Disciplinary Board

The Division provides a number of services on their website at https://idfpr.illinois.gov/DRE.asp.

These services include:

Consumer Complaints
Consumer complaints may be made by downloading and filing a complaint form. Complainants will receive a letter confirming the receipt of a complaint.

License Look-up
License look-up allows someone to look up an individual or entity holding a professional
license, either by name or license number to determine license status and see if the licensee has ever been disciplined.

Continuing Education Look-up
CE Look-up allows a licensee to verify continuing education requirements for the current renewal period.

Renewals
Renewal information for professionals who are renewing a license.

Licensure Application Forms
Licensure application forms and examination candidate handbooks detailing licensing and examination requirements are available for review and download.

Acts and Rules
The Acts and Rules that regulate licensed professionals are available for review and download.

Boards and Committees
Information regarding the four boards and committees including public minutes are available.

Update Contact Information
A licensee can maintain and update his license information on the website.

Communications and Publications
The website provides the major source of communication with the licensed professional. Important notices are posted on the site and the Divisions provide numerous publications to give the licensed professional regulatory guidance.

Monthly Disciplinary Reports
Conduct and discipline reports provide a routine summary of actions taken by the Illinois Department of Professional and Financial Regulation.

Anyone interested in a career as a real estate broker must meet the qualifications and requirements of the Illinois Real Estate Act. Once the individual is licensed they will be under the jurisdiction of the Real Estate Division. 

~Mike


Questions about this information or information about obtaining a residential leasing agent license or managing broker license may be sent to mail@yourhouseacademy.com.
If you are passionate about real estate, interested in investing in real estate, or just looking for a new career with growth potential, a real estate license could be the right move.  People can get started in real estate investing without a license and do ok. But those who want to take their investments to the next level, have control of their assets, build their network, and have direct access to the MLS need to get realtor training and get their real estate license. Does this sound like you? If so, give us a call at 630-844-0222 or check out our Real Estate Courses link on the main page to get started in real estate today and build your new career now!  We would love to help you get there.




Sources: Division of Real Estate Brochure
https://idfpr.illinois.gov/DRE.asp