Fair Housing
In Illinois, a real estate brokerage that refuses to cooperate with or show properties to buyers who are represented by a broker of a certain ethnicity is engaged in:
ALegal business discretion
BDiscriminatory business practices that may violate the Fair Housing Act and Illinois Human Rights Act✓ Correct
CLegal MLS competition rules
DA protected right to choose business partners
Explanation
Refusing to cooperate with brokers based on their ethnicity, or refusing to show properties to buyers based on their protected class, violates fair housing laws. Real estate professionals may not use protected class characteristics to limit business cooperation or access to housing.
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Key Terms to Know
Fair Housing Act
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
RedliningAn illegal practice where lenders or insurers deny services or charge higher rates in certain neighborhoods based on the racial or ethnic composition of those areas.
Math Concepts
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