Information Professionals Real Estate School 708-687-8049 Broker to Managing Broker We will soon have only two sales licenses in Illinois Brokers must transition to Managing Broker If you don’t transition you’ll be a Broker which we always knew as a Salesperson I’m already a Managing Broker. I’ve been a Managing Broker for 14 years! No, Your Not! Under the new law you must get a Managing Broker License. Your license now starts with 475 A Managing Broker’s License starts with 471 It’s a brand new license! If you hold your own license (sponsor yourself) you must transition to Managing Broker Proficiency Test can only be taken one time. If you fail – you must take the 45 hour class Advertised date is April 30, 2012 however Not giving the Proficiency Test after March 15, 2012 Another way to transition is to take the 45 hour transition course 45 hour course can be taken home study Pay transition fee by April 30, 2012 $150 Renew by April 30, 2013 $200 CE for Renewal Become a Managing Broker by Proficiency Test 12 hours Broker Management + 18 hours CE CE for Renewal Become a Managing Broker through the Transition Course 18 hours CE No Broker Management hours needed Information Professionals Real Estate School 708-687-8049