Illinois License Law
Under the Illinois Real Estate License Act, 'blockbusting' is defined as:
AConverting rental property to condominiums in a short period of time
BInducing property owners to sell or rent by representing that a protected class is moving into the neighborhood✓ Correct
CPurchasing multiple properties in the same block to control market prices
DAdvertising properties in multiple MLS systems simultaneously
Explanation
Blockbusting (panic peddling) is inducing or attempting to induce property owners to sell or rent by making representations about a protected class moving into the neighborhood. It is both a violation of Illinois license law and the Fair Housing Act.
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