Illinois License Law
Under the Illinois Real Estate License Act of 2000, what is required for a managing broker to open a branch office?
AA separate real estate license for each branch
BDesignation of a managing broker to supervise the branch office✓ Correct
CIDFPR approval for each individual branch location
DA minimum of five licensed brokers working in the branch
Explanation
When a real estate company opens a branch office in Illinois, a licensed managing broker must be designated to supervise the operations of that branch. The managing broker may be the same person overseeing the main office or a different designated managing broker.
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