Important Real Estate Division Announcements

Important Real Estate Division Announcements

The Illinois Department of Financial and Professional Regulation is going paperless! 

New real estate licensees and those transferring licenses will need to use the IDFPR online services portal after Oct. 1, according to a release from the Division of Real Estate. Paper applications will be accepted until Sept. 30.

According to the release, licensing for new licensees will be handled through the portal for:

  • Brokers
  • Managing brokers
  • Leasing agents
  • Brokerage branch offices, corporations, partnerships and LLCs
  • Pre-license and CE instructors.

Fees can be paid by eCheck or credit card. More information available here.

Rule Requiring the Licensing of Real Estate Branch Offices Eliminated!

As of January 1, 2018 Illinois, real estate brokers will no longer need to obtain a license for every branch office they operate. They will simply need to notify the Department of Financial and Professional Regulation regarding each new office.

Real estate firm licenses are currently up renewal which includes branch office licenses. According to sources at the IDFPR, branch office licenses must be renewed by October 31, 2018. Because the license is being eliminated, there will be no fee for the renewal.

Any real estate firm planning to open a branch office prior to January 1, 2019, must complete the current branch license application and submit to the IDFPR. Because the license will be eliminated on January 1, there is no fee for licensing the branch office.

Licensing a new branch location and renewing branch licenses must be completed through the online services portal and on-line renewal portal.

Reported by Mike Fair, YourHouseAcademy.com

No comments (Add your own)

Add a New Comment


code
 

Comment Guidelines: No HTML is allowed. Off-topic or inappropriate comments will be edited or deleted. Thanks.