When the North Shore – Barrington Association of REALTORS® calculates the DR Billing Formula, NSBAR goes to great lengths to have the most accurate and up to date information as possible. Because this is important NSBAR uses the following information in order to determine what the Designated REALTOR® will be charged.
- The Illinois Department of Financial and Professional Regulations and the Illinois REALTORS® roster that will show every licensee within an office.
- NSBAR has found that there are times when the information we have received from IDFPR or IR is incorrect, therefore each licensee is checked and reviewed on IDFPR website and any incorrect information is immediately taken care of.
- After a comparison of the NSBAR database and the information provided by IDFPR and IR, we will send you a letter with the results of the information we used to calculate the DR Dues Formula, giving you all the tools necessary to the complete the picture.
NSBAR allows an adequate amount of time to comply with the DR Billing Formula and include all the necessary information to help you with this requirement.
You, as a Broker, should never accept anything less than the procedures we have listed above. Remember, every association is required by NAR to calculate the DR Billing Formula, but that doesn’t mean that all Associations handle it the same way.
The North Shore – Barrington Association of REALTORS® believes you should be armed with all the information from the get go, and that you should not be required to ask for it. Another belief is that the databases in place are those to be used and periodically corrected, instead of ignored and used as a last resort.
At any time, you too can do the research for your office to ensure that you are in compliance with the DR Billing Formula. The websites to visit are located below, and if at any time you have any questions, please feel free to give us a call.
Illinois Department of Financial and Professional Regulations
Licensee Lookup
https://online-dfpr.micropact.com/lookup/licenselookup.aspx
Click on Real Estate Professions, choose Real Estate, then license type ‘salesperson’, then put in license number or name to search.
National Association of REALTORS®
Click on Directories, then on “Find an office”. Enter the Office information. Click on find an office, and then click on the office name. Click on ‘show office members’. You will see which licensees in your office have joined NSBAR, Illinois REALTOR® and NAR.
