An Illinois licensee holds an active broker license but has no sponsoring broker. Which statement correctly describes the licensee's ability to represent the public?
Correct Answer
A) A broker may not lawfully practice real estate brokerage without active sponsorship by a sponsoring broker.
Under the Illinois Real Estate License Act of 2000 (225 ILCS 454), a broker license alone does not authorize independent practice. A licensed broker must be sponsored by a sponsoring broker to lawfully represent the public. Only a managing broker who self-sponsors is permitted to practice without a separate sponsoring broker.
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Related Topics & Key Terms
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Related Concepts
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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