Monthly Archives: November 2011

License Transition Is Not the Same as Renewal

Latest on License Law

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).

Introduce Co-op agent to CRR

If you enjoyed working with the co-op agent on your transaction you may want to introduce him or her to CRR. We have a simple to complete Excel form under Section 3 on CRRForms.com Co-op Agent Recruiting Form that may peek their interest. Simply insert four pieces of information, sign the bottom, keep a copy and give the original to the co-op agent.

As you know, we pay a $75.00 referral fee to you for each agent who joins and lists you as the agent introducing them. Plus, you will be included in our contest going on until August 1st.

Good luck and thanks for your help!!

License Transition Should be Done Now

Remember, don’t what until the last minute. There are over 50,000 agents in Illinois who will be transitioning to the broker license. It will be much better to do it early than late. Plus, this is a two step process. Following your coursework or proficiency exam, you must first apply for your new broker license. The deadline is April 30, 2012. But, secondly, you must then renew your license. That too has a deadline of April 30, 2012. https://skitch.com/zabielski/f75ww/http-www.idfpr.com-dpr-re-salespersonbrokertransitionchart.pdf