Spersontobroker2012

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Spersontobroker2012

  1. 1. Salesperson Requirements for License Renewal 2012 Information contained here is subject to change without notice and will update when IDFPR provides the Administrative Rules for License Act 2010 What has changed? What are my options? What is my deadline? What are my costs? Brought to you by: With permission from:
  2. 2. What has changed? Brought to you by: With permission from:
  3. 3. Salesperson Licensees What has changed? <ul><li>Category of Licensure </li></ul><ul><ul><li>Effective April 30, 2012, Illinois will recognize the following categories of licensure for real estate: </li></ul></ul><ul><ul><ul><li>Broker </li></ul></ul></ul><ul><ul><ul><li>Managing Broker </li></ul></ul></ul><ul><ul><li>The Illinois Real Estate License Act no longer includes the category of salesperson. </li></ul></ul><ul><ul><li>All salesperson licensees who will remain in real estate as a licensed professional are required to obtain a broker license on or before April 30, 2012. </li></ul></ul>Brought to you by: With permission from:
  4. 4. <ul><li>Transition Period begins May 1, 2011, and ends April 30, 2012 </li></ul><ul><ul><li>The transition period lasts one year. </li></ul></ul><ul><ul><li>You may use the transition period to obtain one license </li></ul></ul><ul><ul><li>In other words, you won’t be able to transition from salesperson to broker and then transition from broker to managing broker. </li></ul></ul>Salesperson Licensees What has changed? Brought to you by: With permission from:
  5. 5. What are my options? Brought to you by: With permission from:
  6. 6. Salesperson Licensees What are my options? <ul><li>Options # 1 and 2 </li></ul><ul><li>Become a Broker DURING Transition Period </li></ul><ul><li>Through proficiency Prep (Option #1) </li></ul><ul><li>January 2011 until March 15, 2012 </li></ul><ul><li>Through 30-hour transition course (Option #2) </li></ul><ul><li>May 1, 2011 until April 30, 2012 </li></ul><ul><li>IDFPR will allow individuals who obtain a salesperson license now until April 30, 2011 to transition to broker license during the transition period. </li></ul><ul><ul><ul><li>more detail on next slide… </li></ul></ul></ul>Brought to you by: With permission from:
  7. 7. Salesperson Licensees What are my options? <ul><li>There are 2 ways to complete requirements during </li></ul><ul><li> Transition Period </li></ul><ul><ul><li>Proficiency Exam (Option # 1) </li></ul></ul><ul><ul><li>30 Hour Transition Course (Option # 2) </li></ul></ul>Brought to you by: With permission from:
  8. 8. Salesperson Licensees What are my options? <ul><li>Option #1 </li></ul><ul><li>Proficiency Exam </li></ul><ul><li>All individuals licensed as a salesperson on or before April 30, 2011 are eligible to sit for proficiency exam </li></ul><ul><ul><li>Select a proficiency prep class with RANWC (click here for registration) </li></ul></ul><ul><ul><li>Take and pass proficiency exam on or before March 15, 2012 </li></ul></ul><ul><ul><li>Proficiency exam available from January 2011 to March 15 th , 2012 </li></ul></ul><ul><li>PASS and also complete 18 hours of CE Credit </li></ul><ul><ul><li>9 CORE and 9 Elective </li></ul></ul><ul><li>Then apply for broker license with IDFPR </li></ul><ul><ul><li>Fees: </li></ul></ul><ul><ul><li>Transition to broker: $125.00 </li></ul></ul><ul><ul><li>Renew broker license: $150.00 </li></ul></ul><ul><li>Deadline to complete CE and apply for broker license: </li></ul><ul><li>April 30, 2012 </li></ul>Brought to you by: With permission from:
  9. 9. Salesperson Licensees What are my options? <ul><li>Proficiency Exam </li></ul><ul><li>What if I fail? </li></ul><ul><li>No retakes allowed for proficiency exam </li></ul><ul><li>Must complete 30 hour transition course </li></ul><ul><li>Transition courses expected to roll out May 1 st , 2011 </li></ul><ul><li>All RANWC transition courses expected to include all required CE for renewal </li></ul>Brought to you by: With permission from:
  10. 10. Salesperson Licensees What are my options? <ul><li>Option #2 </li></ul><ul><li>30 hour Transition Course </li></ul><ul><li>Take Transition Course and pass related exam(s) </li></ul><ul><ul><li>If you fail the related exam(s), a retake is allowed </li></ul></ul><ul><ul><li>All required CE included in 30 hour course </li></ul></ul><ul><ul><li>Transition course not available until May 1, 2011 </li></ul></ul><ul><li>After passing exam(s), apply for broker license </li></ul><ul><ul><li>Transition to broker license: $125.00 </li></ul></ul><ul><ul><li>Renewal of broker license: $150.00 </li></ul></ul>Brought to you by: With permission from:
  11. 11. <ul><li>What is my deadline? </li></ul>Brought to you by: With permission from:
  12. 12. Salesperson Licensees What is my deadline? <ul><li>Deadlines </li></ul><ul><li>your deadline depends on which option you choose </li></ul><ul><ul><ul><li>Proficiency Exam </li></ul></ul></ul><ul><ul><ul><li>Must pass proficiency exam on or before March 15, 2012 </li></ul></ul></ul><ul><ul><ul><li>Pay fees to IDFPR for transition to broker license </li></ul></ul></ul><ul><ul><ul><li>Must complete 18 hours of CE before April 30, 2012 </li></ul></ul></ul><ul><ul><ul><li>Pay fees to IDFPR to renew broker license </li></ul></ul></ul><ul><ul><ul><li>30 Hour Course </li></ul></ul></ul><ul><ul><ul><li>Must complete and pass on or before April 30, 2012 </li></ul></ul></ul><ul><ul><ul><li>Pay fees to IDFPR for transition to broker license </li></ul></ul></ul><ul><ul><ul><li>Pay fees to IDFPR to renew broker license </li></ul></ul></ul><ul><ul><ul><li>No additional CE needed (it’s included in the 30 hour course) </li></ul></ul></ul>Brought to you by: With permission from:
  13. 13. What are my costs? Brought to you by: With permission from:
  14. 14. <ul><li>1 st quarter 2011 proficiency prep courses are discounted for the early birds </li></ul><ul><li>Proficiency prep course pricing increases $10 per quarter </li></ul><ul><li>Transition course pricing expected in spring 2011 </li></ul>What are my costs? i nformation contained here is subject to change without notice Brought to you by: With permission from:
  15. 15. What are my costs? (RANWC Member Pricing) i nformation contained here is subject to change without notice <ul><li>IDFPR does not offer discounts for license renewal fees </li></ul>Brought to you by: With permission from: Proficiency prep class w/exam & 3 hrs CE credit @ RANWC 18 hrs CE in a classroom $35 per 3 hrs 18 hrs CE via self study $22.95 per 3 hrs Total $89.00 (1 st qtr 2011) $210.00 if CE was taken with proficiency prep class 15 hrs of CE= $175 $137.70 You decide Fees to IDFPR to receive broker license after passing exams (this license expires in 2012) Fees to renew broker license in 2012 Total $125.00 $150.00 $275.00
  16. 16. Questions? <ul><li>RANWC Members are encouraged to email their questions to the RANWC Education Department: [email_address] </li></ul><ul><li>You can also call Ramona Ruskuls , RANWC Director of Education, for clarification of contents contained in this slideshow. (847)506-5030 </li></ul>Brought to you by: With permission from:

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