law

Sponsoring Broker and Post-License Education (Illinois)

An Illinois broker cannot practice independently and may act for only one sponsoring broker at a time, under a written agreement. Starting or ending a sponsorship requires notice to IDFPR within 24 hours, and on termination the license becomes inactive immediately. A new broker must complete 45 hours of post-license education (three 15-hour courses) before the first renewal; until then the broker cannot bind the sponsoring broker, and the designated managing broker must directly handle earnest money and negotiations and approve advertising.