A licensed Illinois broker allows an unlicensed individual to conduct real estate brokerage activities under the broker's office name and license. Under the Illinois Real Estate License Act of 2000, what is the most likely disciplinary consequence for the broker?
Correct Answer
D) The broker faces discipline for aiding and abetting unlicensed practice and for allowing the broker's license to be used to operate a brokerage without proper supervision and control.
Under the Illinois Real Estate License Act of 2000 (225 ILCS 454), it is a disciplinary violation for a licensee to aid or abet unlicensed practice or to allow another person to use the licensee's license to conduct brokerage activities. The method of compensation, transaction volume, or the broker's review process does not create an exemption — permitting an unlicensed person to operate under a broker's license exposes the broker to discipline regardless of those circumstances.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
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?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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