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Ch 21: Illinois Real Estate

About This Chapter

This chapter goes over various regulations specific to Illinois real estate. You'll review key laws, acts, and licensing issues pertaining to the practice of real estate in Illinois.

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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6 Lessons in Chapter 21: Illinois Real Estate
Test your knowledge with a 30-question chapter practice test
Real Estate Practice Regulation in Illinois

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).

Illinois Real Estate Regulation: Commissions, Fees & Taxes

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.

Illinois Real Estate Regulation: Issues of Ownership

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.

Illinois Real Estate Disclosures: Laws & Rules

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.

Illinois Human Rights Act & Real Estate

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.

Illinois Real Estate Regulation: Brokers, Special Accounts & Records

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.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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