Michael Fair's (mikefair) Blog

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Education & Training - Illinois Real Estate Academy/Your House Academy - 471.012866
RECENT BLOG POSTS
In Illinois, the three most important words in real estate are transition, transition and transition.  Due to a signicant amending of the Illinois Real Estate License Act, Illinois real estate licensees will be facing significant changes in Illinois real estate licensing and real estate education...
01/07/2012
Mike Fair, President and Director of the Illinois Academy of Real Estate in Aurora, one of the oldest and most recognized real estate schools in Illinois, and Vince DePaul, CEO and Director of Your House Academy in Bloomingdale, are pleased to announce the merger of their two schools creating on...
08/03/2011
The Illinois Department of Financial and Professional Regulation (IDFPR) has sent over 70,000 post cards to notifying Illinois real estate licensees that they may now begin the transition process. Salesperson licensees must transition to a newly defined broker's license by completing a proficienc...
05/18/2011
I appreciate all of your comments on my previous post.  Thank you Lenn, for letting me know how to change my settings to eliminate unwanted spam. I apologize to all who view this as an ad, agree with you and will be editing it in a different way.  It was not my intent to make this post a blatant ...
05/04/2011
This License has Replaced the Illinois Salesperson's License A broker is any person who for compensation or valuable consideration is employed either directly or indirectly by a licensed real estate brokerage firm to perform certain acts: to sell, offer to sell, buy, offer to buy, negotiate the p...
05/03/2011
Chicago-IDFPR announces new transition rule for Illinois Real Estate License Act. Illinois has eliminated the salesperson real estate license category.  As of May 1, 2011 all new real estate licensees must obtain a real estate broker's license.  This new license requires 90 hours of pre-license e...
04/14/2011
Illinois Transition to an All Broker State The real estate license category of salesperson is being replaced by a new category, "real estate broker". This new license class of "broker" is not the same as broker licensing in the past. The new "broker" will not be able to manage a real estate offic...
07/28/2010
Major changes are taking place in the Illinois real estate industry.  The Illinois Real Estate License Act of 2000 was amended by Public Act 96-856 and became effective 12-31-09. The Act contains numerous changes and additions including: changes in obtaining a license changes in maintaining a lic...
05/13/2010
On December 31, 2009, Illinois Governor Quinn Signed SB1894 into law.  Among other consumer protection provisions, the bill includes a rewrite of the Illinois Real Estate License Act. Some of the changes take place immediately and others will be phased in over a period of time beginning May 1, 20...
01/02/2010
In order to adequately prepare someone to represent the public in a real estate transaction, Illinois is in the process of transitioning to an all broker state. There will be two categories of real estate sales licensees; broker and managing broker.  Increased education and an experience requirem...
11/13/2009
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Michael Fair

Illinois Real Estate Educator
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