Many licensed real estate professionals wonder if they can keep their license without actively working in real estate. The good news? You can hold a real estate license without practicing. Whether you want to pause your real estate career or maintain your license for personal knowledge, it is possible to keep it valid without conducting transactions.
In this article, you will learn exactly how to hold your license without practicing, understand the requirements, and find out the benefits of doing so. Keep reading to get straightforward answers.
Why Hold a Real Estate License Without Practicing?
You might want to keep your real estate license active for several reasons. Perhaps you’ve shifted careers but want to keep the option open. Or you hold your license for personal investment knowledge. Some keep their license to maintain their real estate network or for future career growth.
By maintaining your license, you avoid the hassle of retaking exams or starting the licensing process from scratch. Holding your license keeps your options open while you focus on other priorities.
How Can You Hold Your Real Estate License Without Practicing?
The key to holding your license without actively practicing is sponsorship and meeting state renewal requirements. In Illinois, for example, brokers, managing brokers, and leasing agents need a sponsoring broker to keep their licenses operable.
You don’t have to work full-time or close deals to remain sponsored. Many companies, like Inland Real Estate Network, offer sponsorship services specifically for those who want to keep their license active without daily real estate work.
Steps to Hold Your License Without Practicing
- Find a Sponsoring Broker or License Holding Company
Look for a company that provides license sponsorship for inactive or non-practicing licensees. They help maintain your license status while you focus elsewhere. - Complete Your Continuing Education (CE)
States require you to complete CE courses to renew your license. You must finish these courses before applying for renewal. Many providers, including The CE Shop, offer convenient online courses for busy professionals. - Pay Your Membership or Sponsorship Fees
Sponsoring companies usually charge a nominal fee to keep your license active. Inland Real Estate Network, for instance, charges a low annual fee ($65), much less than traditional brokerages. - Renew Your License on Time
Mark important expiration dates and renewal deadlines on your calendar. Pay any renewal fees before the deadline to avoid penalties or license termination.
What Happens if You Don’t Renew Your License?
Failing to renew your license on time leads to suspension or termination. Once your sponsorship ends, your license becomes inoperable. This means you cannot legally perform real estate activities until you reinstate or reapply.
Late renewals often come with additional fees. For example, after March 31 in Illinois, you may face late penalties if you renew your license. To avoid this, complete your CE requirements and pay fees promptly.
Benefits of Holding a License Without Practicing
- Keep Future Options Open
You can return to real estate when you want, without repeating licensing steps. - Stay Connected to the Industry
Even without practicing, you maintain access to industry news and resources. - Save Money Compared to Full Brokerage Fees
Sponsorship fees for inactive license holders are often lower than full-time broker fees. - Earn Referral Income
Some sponsorship companies allow you to earn income through referrals without closing deals yourself.
Choosing the Right Sponsorship Company
It’s important to choose a reputable sponsorship company if you plan to hold your license without practicing. Look for one with:
- Transparent fees and renewal policies
- Support for continuing education requirements
- Flexible options for non-practicing licensees
- A solid track record and positive reviews
Inland Real Estate Network is an example of a company specializing in sponsorship services for inactive licensees in Illinois. They offer affordable fees, no additional national or local dues, and a straightforward renewal process.
Continuing Education Tips for Inactive Licensees
Completing CE is mandatory, even if you’re not practicing. Online courses are the easiest way to meet these requirements. Make sure to:
- Choose courses approved by your state’s real estate commission
- Complete CE before renewal deadlines
- Keep records of your completed courses
Waiting until the last minute to finish CE can lead to missed deadlines and fees. Plan to keep your license active without stress.
Can You Hold a License Without a Sponsoring Broker?
In some states, sponsorship is mandatory for license activation. Without a sponsoring broker, your license may become inactive or suspended. Therefore, even if you don’t practice, maintaining sponsorship is crucial.
Be sure to understand your state’s rules. Contact your real estate commission or a license-holding company to confirm sponsorship requirements.
What to Expect When Ready to Return to Practice
If you decide to return to active real estate work, having an active license makes it easier to get back on track. You won’t need to retake exams or reapply. Simply update your sponsorship and ensure your CE is current.
Many find it convenient to hold their license with an easy, low-cost sponsor during inactive periods. This way, they can return smoothly without delays.
Final Thoughts
Holding a real estate license without practicing is a smart choice for many professionals. It keeps your options open, saves time, and reduces stress in the long run. Make sure to maintain your continuing education, pay your fees on time, and keep your sponsorship active.
By choosing the right license-holding company, you can hold your license affordably and effortlessly.
Ready to hold your real estate license without practicing? Contact Inland Real Estate Network today to learn about affordable sponsorship and easy renewal options. Keep your license active with minimal effort!