SB3018 Summary

• Amends the Real Estate License Act of 2000 to modify license expiration, renewal, and restoration procedures for managing brokers, brokers, salespersons, and leasing agents.

• Extends the first renewal period for salespersons through April 30, 2012, and requires brokers with first licenses after April 30, 2011 to complete 30 hours of post-license education (including 15 hours of situational and case studies) and pass an examination before first renewal.

• Allows licenses expired for more than 2 years but less than 5 years to be restored beginning May 1, 2012 by applying to the Department, paying required fees, completing continuing education for the most recent pre-renewal period, and providing proof of fitness.

• Requires licenses expired for more than 5 years to meet new license requirements, while allowing military personnel, those in military training, and state employees to renew licenses within 2 years without paying lapsed renewal fees.

• Directs the Department to maintain a register of licensed persons, issue pocket cards, and provide sponsoring brokers with renewal notices and listings of their sponsored licensees.