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Broker Transition

A New Phase for Real Estate License Law in Indiana

Background on the broker transition: As of July 1, 2014, all real estate licensees in Indiana hold a broker's license. Prior to June 30, 2014, all salespersons were required to complete and pass a 24-hour transition course, and apply to the Indiana Professional Licensing Agency for their broker's license. Because of a recent revision to License Law, the deadline for brokers to complete their regular 16 hours and renew their licenses was extended to June 30, 2014. In addition, between the time period July 1, 2013 and June 30, 2014, brokers were required to complete an 8 hours of continuing education that must include a 2 hour Indiana license law course as required by the Indiana Real Estate Commission.

We have been monitoring IPLA records to update our membership database with new license numbers. If you have completed the transition, please help us get your record up-to-date. Send an email to membership@mibor.com today with your new license number so we can update your membership record.


 

What You Need to Know: 

License Renewal + CE
As of July 1, 2014, all active real estate licensees in Indiana are on the same three year license renewal cycle.  Brokers who are licensed for the first time July 1, 2014 or after, must complete a specific 30 hour course to satisfy their continuing education requirement for their first three year renewal period. All other Brokers MUST complete 12 hours of continuing education each and every year, and may not take all 36 hours in the same year.  As in the past, the Indiana Professional Licensing Agency will conduct compliance audits and members will be required to submit proof of completion of these hours.


New Terminology

Principal Broker = Managing Broker
The term Principal Broker has been eliminated from Indiana law and replaced with the term Managing Broker. If you were previously referred to as the Principal Broker of your firm, the state now recognizes you as the Managing Broker of your firm.

Branch Managing Broker = Branch Manager
The state now recognizes Branch Managing Brokers as Branch Managers.

Salesperson = Broker
All salespersons will now be recognized as Brokers. Thus, all new incoming licensees will assume the title of Broker.


Starting a Real Estate Career

As of July 1, 2014, the first step for anyone wanting to start a real estate career in Indiana is to successfully complete a 90 hour pre-licensing Broker course. However, the state will only grant a license to those who are 18 years old and have earned a high school diploma or passed an equivalency exam. 

Once a Broker’s license has been granted, the new licensee must complete 30 hours of post-licensing education – in lieu of continuing education – during the first two years of licensure.


License Status: I've Completed the Broker Transition, But...

Does the state of Indiana shows your license as expired? As of July 1, 2014, you may not participate in a transaction or otherwise perform any duties of an active licensee. Are you in possession of a certificate showing you had completed the required 24 hour Broker Transition Course on June 30 or before? If so, you can apply for a new Broker's license until December 31, 2014 or within one year of the date your certificate was issued - whichever comes first - without having to complete the new 90 hour pre-licensing Broker course for reinstatement. Contact the Indiana Professional Licensing Agency at 317-234-3009 or pla9@pla.in.gov with questions. 

License Status = Pending
If your real estate license is pending with the state of Indiana, there may be an issue with your new license application/license renewal request. Or, you may be caught up in the logjam that accompanied the license law transition deadline. Regardless, you may not participate in a transaction or otherwise perform any duties of an active licensee until the situation is resolved. Contact the Indiana Professional Licensing Agency at 317-234-3009 orpla9@pla.in.gov with questions.

License Status = In Referral

Salespersons: If you renewed your real estate license with the state of Indiana before June 30, you are now a Broker with a license in referral. You do not have a continuing education requirement, but you must renew your license every three years. In order to reactivate your license in the future, you must first complete a 24 hour broker education course.

Brokers: If you renewed your real estate license with the state of Indiana before June 30, you remain a Broker with a license in referral. You do not have a continuing education requirement, but you must renew your license every three years. In order to reactivate your license in the future, you must first complete certain CE requirements based on the date you apply for activation.

License Status = Inactive 

An inactive licensee may not participate in a transaction or otherwise perform any duties of an active licensee.

Salespersons: If you renewed your real estate license with the state of Indiana before June 30, you are now a Broker with an inactive license. You do not have a continuing education requirement, but you must renew your license every three years. In order to reactivate your license in the future, you must first complete a 24 hour broker education course.

If you DID NOT upgrade your license to Broker status or DID NOT move it to inactive or referral status before June 30, are today considered unlicensed by the state of Indiana and should review the “Start a Real Estate Career” section above.

Brokers: If you renewed your real estate license with the state of Indiana before June 30, you remain a Broker with an inactive license. You do not have a continuing education requirement, but you must renew your license every three years. In order to reactivate your license in the future, you must first complete certain CE requirements based on the date you apply for activation.

License Status = Unassigned

Salespersons: Unassigned real estate Salesperson licensees who DID NOT upgrade their license to Broker status or DID NOT move it to inactive or referral status before June 30, are considered unlicensed by the state of Indiana and should review the “Start a Real Estate Career” section above.

Brokers: If you renewed your real estate license with the state of Indiana AND completed the 24 hour continuing education requirement before June 30, you today remain a Broker with an unassigned license. You do have a continuing education requirement; see the “License Renewal + CE” section above. And, you must renew your license every three years. In order to reactivate your license in the future, you must first complete certain CE requirements based on the date you apply for activation.


Questions?

We are happy to talk through this with you. Contact us at membership@mibor.com with questions.

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