Illinois Real Estate Schools and Classes

How to Find a School That Meets the Educational Requirements for Illinois Real Estate Licensing

A recent Google search for Illinois real estate classes resulted in an impressive return of 28,100,000 in 0.64 seconds.

The first three pages contained seven organic links and eleven sponsored links that led to sites that are in compliance with the definitions and regulations found in the Illinois Real Estate License Act.The other 30 were irrelevant or for the most part links to marketing companies or pages designed to generate income by marketing using Google Ad words, practices which can mislead the unsuspecting consumer.

Real estate licensing in Illinois is regulated by the Illinois Department of Financial and Professional Regulation which is responsible for compliance with The Real Estate License Act of 2000 and the Administrative Rules associated with the Act.

Section 5-30 sets forth the educational requirements for Illinois Real Estate Licensing.

Section 5-30. Education requirements to obtain an original broker or salesperson license.

(a) All applicants for a broker's license, except applicants who meet the criteria set forth in subsection
(c) of this Section shall

(i) give satisfactory evidence of having completed at least 120 classroom hours, 45 of which shall be those hours required to obtain a salesperson's license plus 15 hours in brokerage administration courses, in real estate courses approved by the Advisory Council or

(ii) for applicants who currently hold a valid real estate salesperson's license, give satisfactory evidence of having completed at least 75 hours in real estate courses, not including the courses that are required to obtain a salesperson's license, approved by the Advisory Council.

(b) All applicants for a salesperson's license, except applicants who meet the criteria set forth in subsection (c) of this Section shall give satisfactory evidence that they have completed at least 45 hours of instruction in real estate courses approved by the Advisory Council.

(c) The requirements specified in subsections (a) and (b) of this Section do not apply to applicants who: are currently admitted to practice law by the Supreme Court of Illinois and are currently in active standing.

(d) A minimum of 15 of the required hours of pre-license education shall be in the areas of Article 15 of this Act, disclosure and environmental issues, or any other currently topical areas that are determined by the Advisory Council.

Approved courses are licensed by the Illinois Department of Financial and Professional Regulation and must be conducted by a pre-license school which according to Article 1 of the License Act means a school licensed by the IDFPR offering courses in subjects related to real estate transactions, including the subjects upon which an applicant is examined in determining fitness to receive a license.

The fact is that there are only 86 schools licensed by the IDFPR to provide approved pre-licensing classes. Of the 86, only 33 are licensed to provide some form of distance education. So why the return of 28,100,000 in a search for "Illinois Real Estate Classes"? By the way, 6 of the 33 appeared on the first 5 pages as either organic or sponsored links, the balance of the relevant links were marketing sites.

One type of marketing site claims to be an Illinois school, but is really an affiliate who resells a licensed school's course. An entity may only claim to be an approved school if they are one of the 86 licensed schools. If you have any problems or complaints with this type of "school" the IDFPR has no authority in another state to help you resolve the issue. In order to preserve your Illinois legal rights, it is best to register directly with the licensed school at the web site of the licensed school.

Beware of any "school' claiming to be approved by the Illinois Real Estate commission. Illinois does not have a Real Estate Commission. Real estate is regulated by the Illinois Department of Financial and professional Regulation.

Beware of any "school" that claims to be licensed in multi-states, while a few are, this is not common. Before enrolling, go to the web site of the IDFPR and check to see if it is a licensed school or an affiliate marketer. For your legal protection it is best to deal directly with the provider rather than a middleman. Maybe you can even negotiate a reduced course fee since no commission will be paid to a middleman.

Beware of any "school" with an out of state address or no address in there contact information. Section 1450.275 of the Administrative Rules states that a pre-license school must provide an office in Illinois for the maintenance of all records and office space for customer service.

Beware of any substantial misrepresentation, misleading or untruthful advertising, including without limitation guaranteeing success or a pass score on any exam. These are grounds for discipline under Section 1450.315 of the Administrative Rules of the Illinois Real Estate License Act.

Illinois real estate sales is a profession that falls under the Real Estate License Act of 2000 and is regulated by the Illinois Department of Financial Regulation. Beware of any misleading advertising about courses and requirements and if you have any questions, consult IDFPR.

Mike Fair, Director
Illinois Academy of Real Estate

HUD Issues New Mortgage Rules

HUD issues new mortgage rules to help consumers shop for lower cost loans.  New good faith estimate will will help borrowers save nearly $700.00.

Notary Act to Change

The new law will provide that for the period from June 1, 2009 until July 1, 2013 notaries will be required to create a notarial record (to be kept for seven years) of each act performed in connection with a document of conveyance. Notaries are authorized to charge up to $25 for notarial records required under this legislation. These records are not subject to inspection or copying under the Freedom of Information Act. The notarial record must contain:

1)    the date of the notarial act;

2)    the type, title or description of the document of conveyance being notarized, the PIN used to identify the residential real property for assessment or taxation purposes, and the common street address for the property;

3)    the signature, printed name and residence street address of each person whose signature is the subject of the notarial act and a certification by the person that the property is residential real property;

4)    a description of the satisfactory evidence reviewed by the notary to determine the identity of the person whose signature is the subject of the notarial act;

5)   the date of the notarization, the fee charged for the notarial act, the notary's home or business phone number, the notary's residence street address, the notary's commission expiration date, the correct legal name of the notary's employer or principal, and the business street address of the employer or principal;

6)     the notary public shall require the person signing the document of conveyance, including an agent acting on behalf of a principal under a duly executed power of attorney, to place his/her thumbprint on the notarial record.

New Illinois Laws, 2009

Have reviewed Frank Watson Senate Republican Leader's New Laws for 2009 an "A" to "Z" review of more than 100 new laws that are slated to take effect January 1.

Of particular interest to the real estate Industry:

Annexation (SB 2677/P.A. 95-0931)
Fairness in Lending (SB 1879/P.A. 95-0961)
Home Ownership Consumer Education (SB 2387/P.A. 95-0863)
Rental Property (SB 2366/P.A. 95-0857)
Zoning Decisions (SB 2014/P.A. 95-0843)