TITLE 68: PROFESSIONS AND OCCUPATIONS
CHAPTER VIII: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
SUBCHAPTER b: PROFESSIONS AND OCCUPATIONS
PART 1450 REAL ESTATE LICENSE ACT OF 2000
SECTION 1450.790 BROKER PRICE OPINIONS AND COMPARATIVE MARKET ANALYSIS


 

Section 1450.790  Broker Price Opinions and Comparative Market Analysis

 

a)         An individual who is a licensed managing broker or broker and also a licensed appraiser as set forth in the Real Estate Appraiser Licensing Act of 2002 [225 ILCS 458] must include the broker's or managing broker's name and license number, not the appraiser's license number, on the initial page of the broker price opinion or comparative market analysis.

 

b)         A broker or managing broker preparing a broker price opinion or comparative market analysis that does not comply with Section 10-45 of the Act is subject to discipline for:

 

1)         false, untruthful or misleading statements;

 

2)         inadequate or improper preparation of a broker price opinion or comparative market analysis; or

 

3)         any violation set forth in Section 20-20 of the Act.

 

(Source:  Added at 40 Ill. Reg. 12588, effective September 2, 2016)