IL Real Estate Broker Management

The Illinois Real Estate License Act of 2000 [225 ILCS 454/5-70(b) and (f)]  establishes that managing broker licensees’ continuing education requirements must include a 12-hour Broker Management CE (BMCE) course during every license term. This course provides a refresher on Illinois State laws and regulations, particularly the Real Estate License Act of 2000 and the Administrative Code (rules) of the Illinois Department of Financial and Professional Regulation (IDFPR). Chapter 1 covers myriad topics, beginning with the recent amendments to the license act and associated rules, along with other legal amendments and industry updates that licensees must know. Chapter 2 reviews the importance of supervising sponsored licensees, particularly regarding advertising, supervision, training, teams, agency, and more. In Chapter 3, you’ll focuses specifically on the designated managing broker’s duty to provide supervision and oversight to new broker licensees. Chapter 4 covers what managing brokers must know regarding business operations, as well as a brokerage’s office policies and procedures.