Illinois License Act Changes for 2018
Published Tuesday, October 24, 2017
It's not unusual to see changes in laws for licensing and regulating different professions, and the practice of real estate, and real estate education, is no exception. There will be a few changes for 2018 in the Illinois Real Estate License Act that will affect you, so I wanted to give you just the basics for now. If you're interested in a longer discussion of the significant changes, our Director and Instructor Mike Fair lays them out in his blog, which you can find here at www.MikeFairRealEstateEducator.com.
Leasing Agents: Leasing agents can continue to operate under a 120-day permit, but must be enrolled in a leasing agent prelicense course no later than 60 days after beginning to engage in residential leasing activities, and must be licensed within the time frame of the 120-day permit. Your House Academy offers a leasing agent prelicense course.
Continuing Education: The current requirement for broker continuing education is 12 hours consisting of 6 hours of required Core A and Core B classes, and 6 hours of other courses. Exams are currently required for all courses. The update to the license act, which will not affect the 2018 renewal cycle, keep the 12 hour requirement, but it will consist of a single 4-hour core curriculum, established by the board, and 8 hours of elective credit. Credit for courses completed in a classroom or through a live, interactive webinar or distance education program won't require an exam. Credit for home study will still require passing an in-person, proctored exam by a score of at least 75%.
30-hour Broker Post Licensing: Hours won't change, but like the continuing ed discussed above, credit for courses taken in a classroom or live webinar setting will not require an exam.
Of course, there are many other changes to the License Act. If any others arise that directly affect our students, we'll be sure to let you know! Feel free to call me or Mike at 630-844-0222 if you would like to discuss them.