When is an Illinois Real Estate License Required?
A person needs a real estate
license if they provide assistance which is in any way intended to result in
the sale or lease of real estate. The definition of the word
"broker" under the The Illinois Real Estate License Act provides 11
examples of the types of "assistance" that requires a real estate license.
Included are representing clients in the negotiation of real estate sales
contracts or leases, and issuing advertising for the sale, purchase or lease of
The assistance must be
provided for others. Accordingly, a person who buys sells or leases real estate
as a "principal" does need a real estate license.
required. Therefore, a person who provides assistance on a real estate
transaction to a friend or relative, without compensation, does not need a
license. Illinois Real estate license requirements.
If you have further questions about Illinois
real estate licensing, please
let us know.
Posted on Sun, July 14, 2013
by Mike Fair filed under