Illinois License Law
In Illinois, the IDFPR Real Estate Coordinator's role includes which of the following?
ASetting commission rates for all Illinois real estate brokerages
BAdministering and enforcing the Illinois Real Estate License Act, including processing license applications and investigating complaints✓ Correct
CAppraising properties for property tax assessment purposes
DApproving all real estate purchase contracts before they are signed
Explanation
The Illinois IDFPR (Department of Financial and Professional Regulation) administers the Real Estate License Act of 2000 through its Real Estate division. Responsibilities include processing license applications and renewals, approving pre-license and continuing education providers, investigating complaints against licensees, and conducting disciplinary hearings. IDFPR does not set commissions, appraise properties, or approve individual contracts.
Related Illinois Illinois License Law Questions
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- Which of the following activities requires a real estate license in Illinois?
- A managing broker in Illinois who fails to supervise sponsored brokers adequately may face:
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