A sponsoring broker in Illinois opens a new branch office. Under the Illinois License Act of 2000, what is required regarding supervision of that branch?
Correct Answer
A) The sponsoring broker must designate a managing broker for each office and remains responsible for supervising those designated managing brokers.
Under 225 ILCS 454/5-20, every Illinois office — including each branch — must have a designated managing broker responsible for the supervision of licensees at that location. The sponsoring broker is not relieved of oversight responsibility by making this designation; rather, the sponsoring broker retains an ongoing duty to supervise the designated managing brokers themselves, creating a layered accountability structure.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
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.
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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