Who must hold a real estate license in Illinois?

Prepare for the Illinois Broker Reciprocity Exam. Use flashcards and multiple-choice questions complete with hints and explanations. Ace your exam!

The individual who must hold a real estate license in Illinois is indeed the relative who is paid to help sell property. In Illinois, any individual who engages in activities related to the sale or lease of real estate for compensation or the expectation of compensation is required to obtain a real estate license. This includes not only professional agents but also family members who receive payment for their assistance in the transaction.

In contrast, attorneys are typically exempt from needing a real estate license when they are performing legal duties related to real estate, such as advising clients on transactions or drafting documents, as these activities fall within the scope of their professional responsibilities. Similarly, trustees of land trusts operate under their fiduciary duties and do not require a license to manage the trust's property. Lastly, the ownership of multiple high-value properties does not create a licensing requirement; it is the act of facilitating transactions for others that mandates licensure.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy