Some corporations and LLCs still need to reinstate non-renewed real estate licenses

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Almost four months after the Illinois REALTORS® and the Illinois Department of Financial and Professional Regulation (IDFPR) reported 1,400 corporate real estate licenses hadn’t been renewed on time, the association continues to get queries about the subject.

Managing brokers who didn’t renew their entity licenses on Oct. 31, 2016 can download the reinstatement form and send it to IDFPR as quickly as possible, return receipt requested. This form can’t be completed or submitted online.

Any brokerage operating under a non-renewed entity license can be subjecting itself to certain serious consequences.

Illinois REALTORS® suspects that the Department’s change from mailing renewal notifications to electronic means may be the reason managing brokers missed the deadline.

Other questions?

The IDFPR’s address is: Illinois Department of Financial and Professional Regulation, Division of Real Estate, 320 West Washington St., Springfield, IL 62786.

REALTORS® with licensing questions can call Real Estate Licensing at 800/560-6420.

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