In case you missed the live Zoom meeting, you can now watch a recorded version of the Illinois REALTORS® Real Estate License Act (RELA) Legal Update Live!
Illinois REALTORS® General Counsel Betsy Urbance and Legal Hotline Attorney Anneliese Fierstos (photo below) took turns answering questions submitted by members.
They provide easy viewing on the following subjects:
- Paperless practice and technology,
- Education and oversights,
- Teams & advertising,
- Consumer Protection and
- Other related topics
Check out the previous RELA webinars.
Here are some of the questions submitted to Urbance and Fierstos:
- When will the rules from the Illinois Division of Professional and Financial Regulation become effective?
- Is there a requirement for branch licenses under RELA?
- Is a virtual office permissible under RELA and the rules?
- Is a managing broker now referred to as a designated managing broker?
- In advertising, does the name of a team need to be smaller than in a sponsoring broker’s logo?
- Can I represent a client in the business of wholesaling?
- What information in an inspection report can a dual agent share with a seller?
- Is it permissible for brokers to advertise that they will buy your home if they don’t sell it?
- Must a broker diagnosed with COVID disclose that?
- Might a broker be a dual agent in a multiple offer situation?
- Is it permissible for an agent to leave a sponsoring broker without notifying the sponsoring broker?
- Can designated managing brokers delegate supervision of new broker licensees to mentors or coaches?
- Might a new broker licensee bind a company to a contract?
- Must clients reveal they have COVID-19?
- Might a broker have a virtual office in a high-rise condominium when the condominium rules prohibit exterior signs for businesses?
Illinois REALTORS Legal Hotline Attorney Anneliese Fierstos reminds members that managing brokers are now known as designated managing brokers.
