Illinois 4-Hour Core

Overview

The Real Estate License Act of 2000 sets forth specific requirements that Illinois licensees must follow when conducting real estate transactions.  The course describes recent amendments to the Act, and explores the proper handling of escrow funds, the different agency relationships and types of brokerage agreements, and the required disclosures that must be made. It also reviews state and federal fair housing laws to ensure that licensees remain in compliance when advertising and working with the public. Importantly, the course provides real-life examples of different types of conduct that violate license law and the penalties that may be imposed.

This course meets the 4-hour Core Course mandatory requirement for brokers and managing brokers.

Learning Objectives

Upon completion, students will be able to:

  • explain the latest updates to the Real Estate License Act of 2000
  • describe various types of unprofessional conduct that merit disciplinary action
  • recognize the different types of agency agreements allowed in Illinois
  • explain the residential property, environmental, and compensation disclosure requirements
  • understand the rules applicable to escrow accounts and escrow funds in the case of disputes
  • describe the fair housing protections at the federal, state, and local levels and best practices to ensure compliance
  • identify the advertising requirements that licensees must follow when using different media types

Designed For

Illinois real estate brokers and managing brokers
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