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Illinois salesperson licensees transitioning to broker have until April 30, 2012 to complete the transition process and to renew the transitioned license. This may appear to be more than enough time to complete the process, but in reality is less than 3 months down the road.
Those who transition by proficiency exam may complete the application process on-line, however those who transition by completing a 30 hour class must submit a paper application. According to sources at the Illinois Department of Financial and Professional Regulation, "the Department is processing 300 - 500 transition applications a week and current processing time is 4 to 6 weeks. Obviously, if 5,000 or more salesperson licensees wait until January to April to transition, it will significantly impact processing time."
In addition, many of the 28,500 currently licensed brokers not transitioning to managing broker must renew by the same April 30, 2012 deadline. You do the math, processing time could be months rather than weeks.
According to the Department, it is best to complete the transition sooner rather than later and that any transition after February would require not only transition, but renewal at the same time. Transition applications are available at the IDFPR and additional transition information at ILAcademy.com
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