Avoiding Costly Mistakes in Your Real Estate Career (IL)


Successful real estate professionals are defined by their ability to make good decisions, but they can also be defined by their ability to avoid making bad decisions. This course highlights many of the common pitfalls and mistakes that licensees make and examines best practices that licensees can follow to set themselves up for success. While mistakes can still happen, a licensee's chances of staying out of court and avoiding disciplinary action are much greater if they know what to do---and what not to do.

Learning Objectives

Upon completion, students will be able to:

  • identify best practices for managing relationships with clients
  • describe common problems that arise when working with contracts and how to avoid them
  • discuss best practices for ensuring compliance with the Fair Housing Act
  • explain sellers' and agents' disclosure duties
  • describe how agency relationships are established and the problems that can arise
  • recognize the fiduciary and statutory duties that licensees owe to clients
  • explain the problems licensees face with regard to data breaches, wire fraud, copyright issues, and square footage discrepancies
  • describe strategies for managing multiple offers and how to use escalation clauses
  • identify the importance of errors and omissions insurance
  • describe when problems should be referred to a designated managing broker or other professional

Designed For

Real estate licensees in Illinois

Find this course for your license:

License or Certification