March 10, 2009
FOR IMMEDIATE RELEASE

Contact:
Mary Schaefer
217/529-2600

Illinois REALTORS® Promote Homeowner Rights, Real Estate Industry

Hundreds of Illinois REALTORS® convened in Springfield on March 10, 2009, the Illinois Association of REALTORS® (IAR) 33rd Annual Capitol Conference to lobby state lawmakers on issues affecting homeowners and the real estate industry.

In addition to participating in briefings on important legislative and regulatory issues facing the industry, attendees visited personally with their lawmakers to press for passage of the Illinois Association of REALTORS® (IAR) 2009 legislative agenda.

A top priority on the REALTOR® agenda is support for Senate Bill 1894 and House Bill 2498, companion bills that are a joint effort of the REALTOR® Association and the Illinois Department of Financial and Professional Regulation. The bills rewrite the Illinois Real Estate License Act, which otherwise is set to expire this year. The major components of the rewrite bills include increased educational requirements, a simplified license structure and greater consumer protections.

Under the proposed legislation, the entry-level salesperson license would become a “broker” license and would double the hours of pre-license educational study required. Brokers then would have to earn another 30 hours of education after initially being licensed and would have to complete another 12 hours of continuing education every two years after that. A new license, called the “managing broker,” will be created for supervising brokers. They too would have increased educational standards.

“This legislation is good for consumers as well as REALTORS® because it strengthens educational requirements and better trains and prepares Illinois real estate licensees for the complex and challenging business of real estate transactions,” said REALTOR® Pat Callan, president of the Illinois Association of REALTORS®. “In this economy, consumers must rely even more on the expertise of qualified real estate professionals to help them through the process of buying or selling a home.”

Consumers will also benefit from provisions in the legislation that would increase consumer protections and enforcement. It would create criminal penalties for the unlicensed practice of real estate and would also allow for the private right of action on unlicensed practice. The legislation also strengthens investigation and enforcement procedures.

REALTORS® also reminded lawmakers that the housing market plays a key role in strengthening state and local economies.

“A stabilized and stronger housing market is going to be a vital part of any economic rebound,” said Callan, broker-owner of Realty Executives Premiere in Wheaton. “REALTORS® are working at the local, state and national levels to promote housing stimulus plans that provide incentives for home buyers, effectively stem foreclosures and add liquidity to the credit markets so individuals and small business can obtain loans.”

“For most people, buying a home is one of the biggest investments they will ever make and it’s important that their property rights be protected and that they stay informed about issues affecting them, especially additional fees and restrictions. The IAR Capitol Conference is an opportunity for Illinois REALTORS® to play a role in influencing legislation important to property owners and making sure their voices are heard,” Callan said.

The Illinois Association of REALTORS® is a voluntary trade association whose 57,000 members are engaged in all facets of the real estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS® works to protect the rights of private property owners in the state by recommending and promoting legislation that safeguards and advances the rights of real property ownership.

-30-