Online real estate licensing makes work easier in Illinois in 2018. The Illinois Department of Financial and Professional Regulation (“IDFPR”) now uses online real estate licensing in Illinois, an upgrade from paper applications. Not only are licensing applications online, but also the real estate license renewals and applications to transfer from one firm to another are now digital. By moving everything online the IDFPR is better able to efficiently process applications to avoid delays in processing.
IDFPR director comments on the transition to online real estate licensing in Illinois
Kreg Allison, director of the Division of Real Estate at the IDFPR recently made a statement regarding online real estate licensing. “Everything is going online, and paper applications are going to disappear as a whole in 2018. Anybody who wants to start a new real estate brokerage firm or obtain a managing broker license, real estate broker license or leasing agent license will have to do so online, whether it’s an initial application or a renewal,” Allison stated[i].
For most Illinois real estate professionals, the first experience with online licensing will come with their annual license renewal, now online. The deadline for license renewals is April 30, 2018. Additionally, licensed real estate agents who change jobs and move among real estate firms should experience a quicker and more efficient process when filing to transfer to another firm. Allison stated that, “A lot of brokers jump shop every two years, so that’s a meaningful thing.[ii]
New online real estate licensing tools are also improved in 2018
Real estate professionals and the consumers who work with them are better able to research the status of an Illinois real estate agent’s license using the new online search tool. This is important, especially when agents are in the process of transferring or renewing their license. A real estate transaction involving an agent without a properly issued license can be a significant problem. The upgraded IDFPR license system also allows users to learn more about real estate brokerage firms including information about the other branches of brokerage firm and how many licensed agents are associated therewith.
Illinois licensing attorney Michael V. Favia offered comments on the IDFPR online upgrades
“As a former IDFPR Chief Prosecutor, current defense counsel and attorney overseeing a busy real estate legal practice, I can appreciate many of the much-needed changes for the industry,” stated licensing attorney Michael Favia.
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[i] Chicago Agent Magazine, New real estate rules and regulations: What agents can expect in 2018. By Jason Porterfield, Jan. 2, 2018.
[ii] See HNi above.