Cervantes Advances Bill to Reduce Barriers for Real Estate Licensing

Lawndale News Chicago's Bilingual Newspaper - Business

State Senator Javier Cervantes passed a bill in the Senate to expand real estate licensing in Illinois to brokers licensed in another state. “To modernize our real estate practices in Illinois, this legislation would promote greater diversity in the market for many residents to utilize,” said Cervantes (D-Chicago). “Allowing more brokers and managers from other states to operate in Illinois would benefit our residents and the businesses wanting to operate in our state.” Senate Bill 3740 would require brokers and managing brokers licensed in another state who are applying for licensure in Illinois to follow specific guidelines to obtain licensure. The legislation would require applicants who hold an active license in their home state to have practiced in that state for at least two years, be in good standing, pass a test on Illinois-specific real estate brokerage laws and complete a pre-license endorsement course. The bill would also expand DEI and fair housing continuing education requirements. “This legislation will reduce barriers for those who want to enter the profession,” Cervantes said. “Giving applicants the opportunity to take and pass a written examination limited to Illinois real estate law will provide more access to licensed real estate providers in our communities.” Senate Bill 3740 passed the Senate on Friday and heads to the House for further action.

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