Which of the following is exempt from the Illinois Real Estate License Act of 2000?

The executor of an estate is exempt from the Illinois Real Estate License Act of 2000 because their role involves the management and distribution of assets as per the terms of a will or the laws of intestacy. Executors are appointed to carry out these duties, which may include selling real estate as part of the estate settlement process. This function does not constitute the regular practice of real estate brokerage, which is what the license act regulates. Since the executor acts on behalf of the estate and not for commission or compensation in the routine practice of real estate, they are not required to hold a real estate license.

On the other hand, farm managers, real estate referral companies, and property managers typically engage in activities that fall within the scope of real estate transactions and thus require licenses under the act.