Illinois License Law
The Illinois Real Estate License Act defines 'compensation' broadly to include:
AOnly cash payments for real estate services
BAny valuable consideration, including cash, referral fees, gifts, and other benefits received in connection with performing real estate services✓ Correct
COnly commissions paid on the sale of real estate
DOnly compensation paid by buyers, not sellers
Explanation
The Illinois Real Estate License Act defines compensation broadly to include any form of valuable consideration received in connection with performing licensed real estate activities — including cash, referral fees, gifts, finder's fees, and other benefits. Receiving any compensation for unlicensed real estate activity is a violation.
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