Managing Broker License Renewal

The deadline to renew your managing broker license is April 30, 2017.

Check your license renewal requirements:

IDFPR License Renewal page

Renewal Checklist

Renewal Q&A 

What happens if you miss the deadline?

When will you receive your license?

 


 

For Managing Brokers licensed prior to February 1, 2015, a total of 24 CE hours are required before April 30, 2017.

A minimum of 12 hours must be regular CE: Core A, Core B and Elective. CE Hours hours should include one Core A and one Core B course. A maximum of six hours of Elective CE are allowed. 

In addition to the regular CE hours, you will be required to complete 12 hours of "Broker Management CE."  The Broker Management continuing education is not available online or by home study.

The interactive component of this CE requirement for Managing Brokers is satisfied with state-approved live webinars (Feb. 8 & 9, Mar. 1 & 2, April 6 & 7 and April 19 & 20) or live classroom courses (available at 25+ branch locations).

 

For Managing Brokers licensed after February 1, 2015, since this will be your first renewal as a Managing Broker, you are required to take 12 hours of regular CE (a minimum of six Core and six Elective CE hours) before April 30, 2017.

Core hours should include one Core A and one Core B course.

A maximum of six hours of Elective CE are allowed.

The 12-hour "Broker Management CE" course is not required.

 

For Managing Brokers licensed after February 1, 2017, check your license issued by the Illinois Department of Professional Regulation for your expiration date. 

If licensed AFTER February 1, 2017, you should have a renewal date of April 30, 2019 and will not need to take CE or renew by the April 30, 2017 date. 

 

 


What happens if you miss the renewal deadline?

If you miss the April 30, 2017 Managing Broker Renewal deadline, your license will go into a non-renewed status until you complete the required education and submit your renewal application. You should not send in the application until all of hte CE requirements are met. Renewing without completing the required educaiton could result in a fine of $25 per credit hours that you were deficient. 

Is the online renewal still available if you miss the renewal deadline?

The IDFPR online renewal is no longer available after May 1, 2017, so you will be required to submit a paper application to the IDFPR and pay the late renewal fee. 

Review the CE requirements for the Managing Broker Renewal 

Can I still transfer back to a Broker license if the renewal deadline has passed?

In order to transfer to the Broker license, the Managing Broker license must be active, which means you would have had to complete the required CE and have submitted your renewal application.  You do have the option of transferring after your new Managing Broker license is issued by following these guidelines:

  • If you transfer in the first year of your renewal cycle (May 1, 2017 - April 30, 2018), you would need another 6 hours of CE< 3 core and 3 elective.
  • During the second year of hte cycle (May 1, 2018 through April 30, 2019), you would need all 12 hours of CE (6 hours of Core A & B and 6 hours of elective).
  • Complete the Managing Broker to Broker Transfer Application and pay the transfer fee. 

I renewed prior to April 30, 2017. When will I receive my license?

The Department implemented the electronic licensing portal last year and all licensed professionals may now access a digital, printable copy of their license.  If you renewed online, the online licensee lookup database updates within one to two business days of your online application. If you did not receive an email notification with instructions on how to print your license, you will need to contact IDFPR with your current email address and ensure your contact information is up-to-date.  IDFPR’s online address change webpage may be found here.  Additional questions or concerns regarding your license status may be sent to FPR.LMU.illinois.gov, or by calling 800-560-6420.
 
If you need assistance navigating the late renewal process and what education is required for your license, the Illinois REALTORS® Education team is here to help.  You may contact us at education@illinoisrealtors.org, or by calling (800) 523-5077.
 
 
 
 
 

 

 

 

 

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