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License Transition Is Not the Same as Renewal
Remember that your license transition and renewal are two separate requirements and as such will require separate applications and fees.
- Sales to Broker – You will need to transition AND renew by April 30, 2012. There are two separate applications unless you file after Feb. 1, 2012 (per IDFPR it will be the same application form and one check to pay both fees). There are two fees: $125 to transition and $150 to renew (after Feb. 1, 2012 you can pay with one check or, if you are paying online, with one credit card payment). Initial indications from IDFPR are that if you wait you won’t be able to practice until your license comes back to you (could be more than six weeks).
- Broker to Managing Broker – You will need to transition by April 30, 2012 and renew by April 30, 2013. There are two separate applications and two fees: $150 to transition and $200 to renew.
- Broker staying Broker – You will only need to renew. There is one application and one fee: $150 to renew.
Still Have Questions About Transition? Call the IAR License Transition and Proficiency Hotline at 877-538-5861 or go to IARlicenselaw.org and review the IAR Legal Webinar on transition (note: longer download time for this program).