IL Managing Broker CE Package

The Illinois Real Estate License Act of 2000 [225 ILCS 454/5-70(b) and (f)] establishes that managing broker licensees must, in addition to the 12 hours of continuing education required of all brokers and managing brokers, also take the 12-hour Broker Management CE (BMCE) course during every license term. This BMCE course provides a refresher on Illinois State laws and regulations, particularly regarding the Real Estate License Act and the Administrative Code (the rules) of the Illinois Department of Financial and Professional Regulation (IDFPR).

In Chapter 1, you’ll learn about the recent amendments to the license act and associated rules, along with other relevant legal amendments and industry updates that apply to your practice as an Illinois real estate managing broker. In Chapter 2, you’ll review the requirements regarding the supervision of sponsored licensees, particularly regarding advertising, supervision, training, teams, agency, and more.   In Chapter 3, you’ll focus specifically on the designated managing broker’s duty to provide new broker licensees with supervision and oversight in multiple areas, including escrow, brokerage agreements, transactions, agency disclosures, advertising, and more, as well as how designated managing brokers can provide proof of that oversight and training. In Chapter 4, you’ll finish up the course by reviewing what managing brokers must know regarding business operations and a brokerage’s office policies and procedures. While the sponsoring broker is charged with creating that office policy manual, it’s the designated managing broker’s responsibility to train everyone at the brokerage according to the manual’s requirements and to implement those policies.    

COURSE HIGHLIGHTS:

• Identify the amendments to the Illinois Real Estate License Act of 2000 and the Illinois Department of Financial and Professional Regulation (IDFPR) rules, and discuss current market conditions, industry chan

This Illinois 6-hr Core course is approved for real estate broker and managing broker continuing education as required by the Illinois Real Estate License Act. This course will cover state license law with a focus on recent amendments. This course also delves into essential knowledge and skills specific to agency, brokerage agreements, disclosures, and escrow. Additionally, federal and state fair housing laws are covered, ensuring you can provide fair and equitable treatment to all.

COURSE HIGHLIGHTS

• Learn about recent amendments to the Real Estate License Act and review general business requirements—such as requirements for record maintenance and using unlicensed assistants—to which Illinois real estate brokers must adhere.
• Gain a better understanding of conduct that is considered unprofessional and unlawful and the enforcement process for violations of license law.
• Improve your ability to fulfill agency disclosure requirements and the duties you owe to consumers, clients, and customers.
• Recognize requirements and restrictions specific to agency when working as a team, confidentiality, duties after termination, acting as the principal in a transaction, and acting as a residential leasing agent.
• Improve your understanding of the different types of brokerage agreements and the compensation structures inherent to each type of agreement.
• Learn about your responsibilities in fulfilling property, environmental, and compensation disclosure requirements.
• Review requirements for escrow accounts, deposits, disbursements, and recordkeeping, and the disciplinary actions that can be imposed for noncompliance with these requirements.
• Discover advertising requirements, tactics, and prohibitions to lawfully reach consumers.
• Enhance your ability to provide fair and equitable services by learning about protected classes and lawful practices under the federal Fair Housing Act and Illi