About This Chapter
Illinois Real Estate - Chapter Summary
This chapter covers numerous important considerations for the practice of real estate within Illinois. You'll learn about the necessary licensing procedures and related matters of accounts and regulations. By the end of the chapter, you'll have gone over all of the following:
- Continuing education in Illinois real estate
- Real estate practice and regulation
- Ownership issues
- Rules of disclosure
- Human Rights Act
- Brokers and record-keeping
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1. Real Estate Practice Regulation in Illinois
The purpose of this lesson is to serve as a review of the real estate requirements in the state of Illinois. It will address all rules and regulations and how they coincide with the National Association of Realtors (NAR).
2. Illinois Real Estate Regulation: Commissions, Fees & Taxes
This lesson discusses the different Illinois laws and rules for regulating real estate practice with regards to commissions, fees and taxes. This includes transfer tax stamps to the affordable housing program, even real estate tax exemptions.
3. Illinois Real Estate Regulation: Issues of Ownership
In America, real estate and property laws differ from state to state. This lesson will look at how the property law, including real estate timeshares or land sales, differ in Illinois from national requirements.
4. Illinois Real Estate Disclosures: Laws & Rules
This lesson explains the various regulations for disclosure of real estate transactions in the state of Illinois. Most of these disclosure laws apply to agents, while some apply to buyers and sellers of real estate property.
5. Illinois Human Rights Act & Real Estate
This lesson looks at the main tenants of the Illinois Human Rights Act as it pertains to real estate in Illinois. Real estate agents are bound by many laws, and cannot discriminate based on factors such as disability, race, color, and sexual orientation.
6. Illinois Real Estate Regulation: Brokers, Special Accounts & Records
There is a substantial amount of legislation for real estate brokers under the Illinois Real Estate Act. This legislation can differ from federal law, so it is important to understand local regulation.
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Other chapters within the Illinois Real Estate Broker License Exam: Study Guide course
- Role of Agencies in Real Estate
- Principles of Practicing Real Estate
- Real Estate Ethics & Professional Responsibility
- Overview of Contracts In Real Estate Transactions
- Forms of Property Ownership
- Advanced Property Ownership Issues
- Real Estate Investment & Analysis
- Encumbrances in Real Estate
- Advanced Encumbrances in Real Estate
- Land Use Laws, Regulations & Zoning
- Real Estate Financing
- Obtaining a Real Estate Loan
- Real Estate Closing & Settlement Procedures
- Land Descriptions & Surveys
- Property Valuation & Appraisal
- Transfer of Real Property
- Advanced Transfer of Real Property
- Disclosures of Property Conditions
- Fair Housing & Consumer Protection
- Leases & Property Management
- Illinois Real Estate Broker License Exam Flashcards