After renewal FAQs – Managing Broker 2021 license renewal
Now that the 2021 license renewal deadline has passed, Managing Brokers may have questions. Illinois REALTORS® has answers to assist you.
Q. I renewed my license through the online portal and the IDFPR website is not showing my new expiration date. How do I know if it was processed?
A. The online License Lookup is updated daily and any changes should appear the next business day after your renewal application has been processed. However, it could take a few days or more depending on volume for the online renewal to get processed and show on License Lookup. We recommend printing a copy of the confirmation page as proof that your renewal was submitted timely.
Q. Can I still practice real estate as a Managing Broker after April 30, 2021 if I have not completed the required education and/or completed the renewal application and paid the fee to the Illinois Department of Financial and Professional Regulation?
A. No. Contact an Illinois REALTORS® Education Specialist at 217-529-2600 or the Illinois Department of Financial & Professional Regulation to learn your options: IDFPR 1-800-560-6420 or [email protected].
Q. What if I haven’t completed my education in time to meet the renewal date of April 30, 2021 for the managing broker license?
A. Do not renew! If you renew without completing the required education you could face a public license discipline and fines of up to $2,000.
Q. What is the fee for renewing late?
A. The late renewal fee includes a $50 late fee increasing your renewal fee from $200 to $250.
Q. If I have completed my education, paid the fee and submitted the renewal form on or before April 30th but have not received the email to print my license, may I practice now?
A. Yes. Make sure you keep records of your completed education, online renewal confirmation and payment for proof purposes in the case of an audit. Primary source verification and evidence that you are licensed can be obtained free of charge by visiting the IDFPR “Print My License” website or IDFPR online License Lookup database. If IDFPR does not have a current email address for you, please notify them immediately. Click here to login and change your email address under “Online Services – Update My Contact Info”.
Q. What should I look for in my email for license renewal confirmation?
A. Official IDFPR Notifications come from [email protected]
Q. I’m currently a managing broker, but I want to revert to a broker license. Can I do that during the managing broker renewal cycle?
A. Yes. A managing broker may transfer to a broker license when the managing broker license is currently in active status. NOTE: After transferring to a broker the managing broker license will be canceled and you would need to take the current pre-license education and pass the state exam to get a new managing broker license. For more information, see IDFPR’s transfer application.
Q. After I renewed my license, when can I start taking CE for my next renewal?
A. You must wait until after the renewal deadline has passed and complete your education after May 1, 2021 for the 2023 renewal.
Q. What do I do if I receive a Deficiency Notice from IDFPR?
A. If you receive a deficiency notice email from Illinois Department of Financial and Professional Regulation (IDFPR) do not ignore it! You must respond to a deficiency notice within 60 days to avoid disciplinary action and substantial fines. Take one of these actions to remedy the deficiency:
- Provide evidence of compliance by submitting copies of the certificates of course completion for the each of the courses identified in the notice to the Department.
- Immediately complete the courses identified in the notice to satisfy the deficiency and submit the certificates of completion along with the IDFPR deficiency citation fine. Your submission will not be reviewed or considered until payment is received by check or money order.
Completing your continuing education requirements in a timely fashion during each renewal cycle will help your license remain in good standing. Be sure to update your email address regularly with IDFPR to ensure you receive all notifications. Contact an Illinois REALTORS® Education Specialist at 217-529-2600 or [email protected] if you have questions.