Broker Management 6 hours -required
broker CE course
This course was authored by the Illinois Department of Financial and
Professional Regulation (IDFPR). The course and printed materials
are broken down into five different sections; Broker Licensing and
Responsibilities, Agency Agreements and Issues, Office Management and Escrow
Responsibilities, Risk Reduction and Disciplinary Actions.
The course is a six-hour, classroom or home study continuing education course delivered
through a combination of different learning techniques; lecture,
discussion, and small group exercises.
At the completion of the course there is a 50 question multiple
choice exam that will be proctored by Information Professionals, but will then
have to be sent to the Real Estate Education Foundation (REEF) for grading. Your
notice of Pass or Failure will be mailed to you from REEF in approximately 3
weeks. Information Professionals (or any real estate school) has nothing to do with the grading of the exam.
Only 1 re-test of the exam is allowed. A re-test fee of
$25 will be charged.
Core Course A _License Law, Agency & Escrow
3 hours core
Illinois Course License #564-000813
Also available home study
The Illinois Department of Financial and Professional Regulation (IDFPR)
requires every licensee to take both Core A and Core B.
The course deals with agency and typical situations that an agent will find
him/herself in and the agency requirements of those situations. Some of the
mechanics of escrow accounts are presented with emphasis on the handling of
funds, along with maintaining and disbursement of funds. Violations of the Real
Estate License Act are reviewed and discussion of sponsoring brokers and the
sponsoring broker's supervisory requirements.
Core Course B -Legal Issues
3 hours core
Illinois Course License #564-000815
Also available home study
The Illinois Department of Financial and Professional Regulation (IDFPR)
requires every licensee to take both Core A and Core B.
Core B deals with the licensee's issues, anti-trust violations, flood plains
and flood insurance, handling of stigmatized properties, RESPA, Do-Not-Call,
Can-Spam Act, lead hazards and more.
Elective Subject Areas - 3 hours each
Mechanics of Short-Sales
3 hours elective credit
Illinois Course License #564 (pending approval)
Only available classroom
The course deals with
the minimum guidelines and standards utilized by Lender and Mortgage Servicer
Loss Mitigation departments when reviewing short sale offers.
It provides an items checklist for creating an offer package, discusses
the NET needs of Bank and Lenders, demonstrates formulas used for short
sale calculations and provides updated FHA (Preforclosure Sale – PFS)
guidelines currently implemented by HUD. The
course will describe what will cause automatic rejections, how to resubmit a
short sale offer package and how to avoid problems.
This course will provide valuable information which will save both the
buying and selling consumer time and aggravation from delays caused by not
initially presenting a ready for approval package.
Understanding Leases
3 hours elective credit
Illinois Course License #564 (pending approval)
Only available home study
The student will review the subject of leases and learn basic lease law as it
pertains both to common law and specific state statute. Many licensees need to
discuss lease basics with their clients on a daily basis. These basics are
essential to any lease. They are important whether representing the lessor or
the lessee. Leases will be discussed in detail. Although there are numerous
kinds of real estate leases, a licensee will probably have most of his dealings
with simple commercial or residential leases. For leases more complicated than
these, the student will be encouraged to have their clients engage an attorney.
Finally, they will learn to avoid problems with inadequate leases..
You've Got A Deal! - Understanding Real
Estate Contracts
3 hours elective credit
Illinois Course License #564-001878
Only available home study
The student will review basic contract law that
students were introduced to prior to their licensing exams. Although students do
not need to discuss contract basics with their clients on a regular basis, these
basics become very important if a real estate contract doesn't close. Real
estate sales contracts will be discussed in detail. Although there are numerous
kinds of real estate contracts, a licensee will probably have most of his
dealings with the sales contract. Not only will they learn to fill-in the sales
contract properly, they will learn to explain it to their clients without
engaging in the practice of law. Finally, they will learn to avoid problems with
the real estate contract itself.
Financing and the Real Estate
Transaction
3 hours elective credit
Illinois Course License #564 (approval pending)
Only available classroom
The course covers the various differences between conventional, FHA insured
financing and non-conforming financing that are involved in real estate
transactions. The Illinois licensee will have a better understanding of the
financing process and the importance of subtle and not so subtle differences
between the types of financing. The various documents used in the closing
process will be discussed.
Disclosure - Sold today. Sued
tomorrow!
3 hours elective credit
Illinois Course License #564-000571
Only available classroom
One of our most popular courses, this course provides examples of different kinds of
misrepresentation. Effective handling of stigmatized properties and the advantages of
seller disclosure will be explained. Illinois residential disclosures and lead-based paint
disclosure requirements will be reviewed. Disclosure of a licensee’s real estate
license status will be presented. Most importantly, the course will focus on how to avoid
a misrepresentation law suit.
Environmental Issues In Your R.E.
Practice
6 hours elective credit
Illinois Course License #564-001464
Only available home study - the text is no longer being
published, if you have the text from a previous year you can still take this
course - We have the course approved until April 30, 2010
The course deals with the environmental problems associated
with real estate transactions today. The course will explain environmental problems such
as asbestos, radon, lust, formaldehyde, water well contamination, brownfields, lead based
paint hazards and more. The real estate practitioner will come away with a thorough
understanding of environmental hazards and what can be done to mitigate the problem.
Risk Management
3 hours elective credit
Illinois Course License #564-000567
Only available home study - the text is no longer being
published, if you have the text from a previous year you can still take this
course - We have the course approved until April 30, 2010
The course outlines the basic causes of risk and remedies
designed to minimize risk. The course will cover environment, agency, fair housing laws,
ADA, antitrust, and the unauthorized practice of law.
Red Flags in Property Inspection
3 hours elective credit
Illinois Course License #564-001015
Available classroom and home study.
This course covers the red flags that reveal serious and some not so serious
defects in a property. The course will train agents to help their clients in
evaluating the soundness of a property, while staying within the scope of their
license. The course will also point out to agents that although red flags are
obvious, the causes for the defect may not be. The course will reveal who to
contact for advice in various red flags.
Ethics and Real Estate
3 hours elective credit
Illinois Course License #564-001014
Available classroom and home study
Course deals with ethics and the real estate licensee. This course will
provide a background in ethics and the ethical thought process. The class will
present case studies portraying ethical dilemmas real estate licensees may find
themselves in. Class will consist of an introduction, lecture and case studies.
Buyer Agency. Dealing with the buyer as
client.
3 hours elective credit
Illinois Course License #564-001379
Only available classroom
Since
there were real estate licensees, the licensee has always looked out for the
best interests of the seller. Real estate contracts, in much the same way that
written real estate leases were written with the best interests of the lessor in
mind, have been written with the best interests of the seller in mind. Since
1995, Illinois real estate licensees have been regulated by Article 15. Article
15 requires, that in the absence of any other written agreement, the real
estate licensee is representing the party with whom the licensee is working.
This course will teach the licensee how to look out for the best interests of
the buyer as client.
Introduction to Commercial
3 hours elective credit
Illinois Course License #564-001386
Only available home study - the text is no longer being
published, if you have the text from a previous year you can still take this
course - We have the course approved until April 30, 2010
Provides a background for those involved in or thinking of
getting in commercial and industrial real estate sales. It reviews the
motivations that a purchaser has in the purchase of the different categories of
commercial and industrial properties and gives a general discussion of the
evaluation methods to be considered in each of the types. The course discusses
the financial elements involved in a real estate investment defines the key
terms in the income and expense analysis leading to a basic financial analysis
of an investment property. Depreciation of the properties is discussed.
Fair Housing
3 hours elective credit
Illinois Course License #564-001385
Only available home study
This course covers fair housing on the federal, state,
county and local level. Included is the text of the Civil Rights Act of 1968,
which as far as legislation goes, is quite explanatory itself. The student will
learn the protected classes on each of the levels of government and will learn
the practices expressly prohibited by law at each of these levels of government.
Agency-Who's on first?
3 hours elective credit
Illinois Course License #564-000572
Classroom only. Not available home study
The course provides a short history of agency including subagency, seller, and buyer
agency. There will be a discussion of common law agency and how it led to Illinois’
designated agency law. The requirements of designated agency will be presented. Much of
the time will be spent on disclosure requirements. The requirements and the pitfalls of
dual agency will be presented. Designated agency is probably the most often violated law
in Illinois real estate today. As the public becomes more aware of agency requirements, we
can expect more OBRE disciplines and more civil suits. This course will keep you from
being part of the statistics.
