Public Act 093-0957
 
SB2887 Enrolled LRB093 20864 AMC 46932 b

    AN ACT concerning professional regulation.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Real Estate License Act of 2000 is amended
by changing Sections 1-10, 5-30, 5-50, 5-70, and 20-20 and by
adding Section 15-75 as follows:
 
    (225 ILCS 454/1-10)
    (Section scheduled to be repealed on January 1, 2010)
    Sec. 1-10. Definitions. In this Act, unless the context
otherwise requires:
    "Act" means the Real Estate License Act of 2000.
    "Advisory Council" means the Real Estate Education
Advisory Council created under Section 30-10 of this Act.
    "Agency" means a relationship in which a real estate broker
or licensee, whether directly or through an affiliated
licensee, represents a consumer by the consumer's consent,
whether express or implied, in a real property transaction.
    "Applicant" means any person, as defined in this Section,
who applies to OBRE for a valid license as a real estate
broker, real estate salesperson, or leasing agent.
    "Blind advertisement" means any real estate advertisement
that does not include the sponsoring broker's business name and
that is used by any licensee regarding the sale or lease of
real estate, including his or her own, licensed activities, or
the hiring of any licensee under this Act. The broker's
business name in the case of a franchise shall include the
franchise affiliation as well as the name of the individual
firm.
    "Board" means the Real Estate Administration and
Disciplinary Board of OBRE.
    "Branch office" means a sponsoring broker's office other
than the sponsoring broker's principal office.
    "Broker" means an individual, partnership, limited
liability company, corporation, or registered limited
liability partnership other than a real estate salesperson or
leasing agent who for another and for compensation, or with the
intention or expectation of receiving compensation, either
directly or indirectly:
        (1) Sells, exchanges, purchases, rents, or leases real
    estate.
        (2) Offers to sell, exchange, purchase, rent, or lease
    real estate.
        (3) Negotiates, offers, attempts, or agrees to
    negotiate the sale, exchange, purchase, rental, or leasing
    of real estate.
        (4) Lists, offers, attempts, or agrees to list real
    estate for sale, lease, or exchange.
        (5) Buys, sells, offers to buy or sell, or otherwise
    deals in options on real estate or improvements thereon.
        (6) Supervises the collection, offer, attempt, or
    agreement to collect rent for the use of real estate.
        (7) Advertises or represents himself or herself as
    being engaged in the business of buying, selling,
    exchanging, renting, or leasing real estate.
        (8) Assists or directs in procuring or referring of
    prospects, intended to result in the sale, exchange, lease,
    or rental of real estate.
        (9) Assists or directs in the negotiation of any
    transaction intended to result in the sale, exchange,
    lease, or rental of real estate.
        (10) Opens real estate to the public for marketing
    purposes.
        (11) Sells, leases, or offers for sale or lease real
    estate at auction.
    "Brokerage agreement" means a written or oral agreement
between a sponsoring broker and a consumer for licensed
activities to be provided to a consumer in return for
compensation or the right to receive compensation from another.
Brokerage agreements may constitute either a bilateral or a
unilateral agreement between the broker and the broker's client
depending upon the content of the brokerage agreement. All
exclusive brokerage agreements shall be in writing.
    "Client" means a person who is being represented by a
licensee.
    "Commissioner" means the Commissioner of Banks and Real
Estate or a person authorized by the Commissioner, the Office
of Banks and Real Estate Act, or this Act to act in the
Commissioner's stead.
    "Compensation" means the valuable consideration given by
one person or entity to another person or entity in exchange
for the performance of some activity or service. Compensation
shall include the transfer of valuable consideration,
including without limitation the following:
        (1) commissions;
        (2) referral fees;
        (3) bonuses;
        (4) prizes;
        (5) merchandise;
        (6) finder fees;
        (7) performance of services;
        (8) coupons or gift certificates;
        (9) discounts;
        (10) rebates;
        (11) a chance to win a raffle, drawing, lottery, or
    similar game of chance not prohibited by any other law or
    statute;
        (12) retainer fee; or
        (13) salary.
    "Confidential information" means information obtained by a
licensee from a client during the term of a brokerage agreement
that (i) was made confidential by the written request or
written instruction of the client, (ii) deals with the
negotiating position of the client, or (iii) is information the
disclosure of which could materially harm the negotiating
position of the client, unless at any time:
        (1) the client permits the disclosure of information
    given by that client by word or conduct;
        (2) the disclosure is required by law; or
        (3) the information becomes public from a source other
    than the licensee.
    "Confidential information" shall not be considered to
include material information about the physical condition of
the property.
    "Consumer" means a person or entity seeking or receiving
licensed activities.
    "Continuing education school" means any person licensed by
OBRE as a school for continuing education in accordance with
Section 30-15 of this Act.
    "Credit hour" means 50 minutes of classroom instruction in
course work that meets the requirements set forth in rules
adopted by OBRE.
    "Customer" means a consumer who is not being represented by
the licensee but for whom the licensee is performing
ministerial acts.
    "Designated agency" means a contractual relationship
between a sponsoring broker and a client under Section 15-50 of
this Act in which one or more licensees associated with or
employed by the broker are designated as agent of the client.
    "Designated agent" means a sponsored licensee named by a
sponsoring broker as the legal agent of a client, as provided
for in Section 15-50 of this Act.
    "Director" means the Director of the Real Estate Division,
OBRE.
    "Dual agency" means an agency relationship in which a
licensee is representing both buyer and seller or both landlord
and tenant in the same transaction. When the agency
relationship is a designated agency, the question of whether
there is a dual agency shall be determined by the agency
relationships of the designated agent of the parties and not of
the sponsoring broker.
    "Employee" or other derivative of the word "employee", when
used to refer to, describe, or delineate the relationship
between a real estate broker and a real estate salesperson,
another real estate broker, or a leasing agent, shall be
construed to include an independent contractor relationship,
provided that a written agreement exists that clearly
establishes and states the relationship. All responsibilities
of a broker shall remain.
    "Escrow moneys" means all moneys, promissory notes or any
other type or manner of legal tender or financial consideration
deposited with any person for the benefit of the parties to the
transaction. A transaction exists once an agreement has been
reached and an accepted real estate contract signed or lease
agreed to by the parties. Escrow moneys includes without
limitation earnest moneys and security deposits, except those
security deposits in which the person holding the security
deposit is also the sole owner of the property being leased and
for which the security deposit is being held.
    "Exclusive brokerage agreement" means a written brokerage
agreement that provides that the sponsoring broker has the sole
right, through one or more sponsored licensees, to act as the
exclusive designated agent or representative of the client and
that meets the requirements of Section 15-75 of this Act.
    "Inoperative" means a status of licensure where the
licensee holds a current license under this Act, but the
licensee is prohibited from engaging in licensed activities
because the licensee is unsponsored or the license of the
sponsoring broker with whom the licensee is associated or by
whom he or she is employed is currently expired, revoked,
suspended, or otherwise rendered invalid under this Act.
    "Leasing Agent" means a person who is employed by a real
estate broker to engage in licensed activities limited to
leasing residential real estate who has obtained a license as
provided for in Section 5-5 of this Act.
    "License" means the document issued by OBRE certifying that
the person named thereon has fulfilled all requirements
prerequisite to licensure under this Act.
    "Licensed activities" means those activities listed in the
definition of "broker" under this Section.
    "Licensee" means any person, as defined in this Section,
who holds a valid unexpired license as a real estate broker,
real estate salesperson, or leasing agent.
    "Listing presentation" means a communication between a
real estate broker or salesperson and a consumer in which the
licensee is attempting to secure a brokerage agreement with the
consumer to market the consumer's real estate for sale or
lease.
    "Managing broker" means a broker who has supervisory
responsibilities for licensees in one or, in the case of a
multi-office company, more than one office and who has been
appointed as such by the sponsoring broker.
    "Medium of advertising" means any method of communication
intended to influence the general public to use or purchase a
particular good or service or real estate.
    "Ministerial acts" means those acts that a licensee may
perform for a consumer that are informative or clerical in
nature and do not rise to the level of active representation on
behalf of a consumer. Examples of these acts include without
limitation (i) responding to phone inquiries by consumers as to
the availability and pricing of brokerage services, (ii)
responding to phone inquiries from a consumer concerning the
price or location of property, (iii) attending an open house
and responding to questions about the property from a consumer,
(iv) setting an appointment to view property, (v) responding to
questions of consumers walking into a licensee's office
concerning brokerage services offered or particular
properties, (vi) accompanying an appraiser, inspector,
contractor, or similar third party on a visit to a property,
(vii) describing a property or the property's condition in
response to a consumer's inquiry, (viii) completing business or
factual information for a consumer on an offer or contract to
purchase on behalf of a client, (ix) showing a client through a
property being sold by an owner on his or her own behalf, or
(x) referral to another broker or service provider.
    "OBRE" means the Office of Banks and Real Estate.
    "Office" means a real estate broker's place of business
where the general public is invited to transact business and
where records may be maintained and licenses displayed, whether
or not it is the broker's principal place of business.
    "Person" means and includes individuals, entities,
corporations, limited liability companies, registered limited
liability partnerships, and partnerships, foreign or domestic,
except that when the context otherwise requires, the term may
refer to a single individual or other described entity.
    "Personal assistant" means a licensed or unlicensed person
who has been hired for the purpose of aiding or assisting a
sponsored licensee in the performance of the sponsored
licensee's job.
    "Pocket card" means the card issued by OBRE to signify that
the person named on the card is currently licensed under this
Act.
    "Pre-license school" means a school licensed by OBRE
offering courses in subjects related to real estate
transactions, including the subjects upon which an applicant is
examined in determining fitness to receive a license.
    "Pre-renewal period" means the period between the date of
issue of a currently valid license and the license's expiration
date.
    "Real estate" means and includes leaseholds as well as any
other interest or estate in land, whether corporeal,
incorporeal, freehold, or non-freehold, including timeshare
interests, and whether the real estate is situated in this
State or elsewhere.
    "Real Estate Administration and Disciplinary Board" or
"Board" means the Real Estate Administration and Disciplinary
Board created by Section 25-10 of this Act.
    "Salesperson" means any individual, other than a real
estate broker or leasing agent, who is employed by a real
estate broker or is associated by written agreement with a real
estate broker as an independent contractor and participates in
any activity described in the definition of "broker" under this
Section.
    "Sponsoring broker" means the broker who has issued a
sponsor card to a licensed salesperson, another licensed
broker, or a leasing agent.
    "Sponsor card" means the temporary permit issued by the
sponsoring real estate broker certifying that the real estate
broker, real estate salesperson, or leasing agent named thereon
is employed by or associated by written agreement with the
sponsoring real estate broker, as provided for in Section 5-40
of this Act.
(Source: P.A. 91-245, eff. 12-31-99; 91-585, eff. 1-1-00;
91-603, eff. 1-1-00; 91-702, eff. 5-12-00; 92-217, eff.
8-2-01.)
 
    (225 ILCS 454/5-30)
    (Section scheduled to be repealed on January 1, 2010)
    Sec. 5-30. Education requirements to obtain an original
broker or salesperson license.
    (a) All applicants for a broker's license, except
applicants who meet the criteria set forth in subsection (c) of
this Section shall (i) give satisfactory evidence of having
completed at least 120 classroom hours, 45 of which shall be
those hours required to obtain a salesperson's license plus 15
hours in brokerage administration courses, in real estate
courses approved by the Advisory Council or (ii) for applicants
who currently hold a valid real estate salesperson's license,
give satisfactory evidence of having completed at least 75
hours in real estate courses, not including the courses that
are required to obtain a salesperson's license, approved by the
Advisory Council.
    (b) All applicants for a salesperson's license, except
applicants who meet the criteria set forth in subsection (c) of
this Section shall give satisfactory evidence that they have
completed at least 45 hours of instruction in real estate
courses approved by the Advisory Council.
    (c) The requirements specified in subsections (a) and (b)
of this Section do not apply to applicants who: (1) are
currently admitted to practice law by the Supreme Court of
Illinois and are currently in active standing; or (2) show
evidence of receiving a baccalaureate degree including courses
involving real estate or related material from a college or
university approved by the Advisory Council.
    (d) A minimum of 15 of the required hours of pre-license
education shall be in the areas of Article 15 of this Act,
disclosure and environmental issues, or any other currently
topical areas that are determined by the Advisory Council.
(Source: P.A. 91-245, eff. 12-31-99.)
 
    (225 ILCS 454/5-50)
    (Section scheduled to be repealed on January 1, 2010)
    Sec. 5-50. Expiration date and renewal period of broker,
salesperson, or leasing agent license; sponsoring broker;
register of licensees; pocket card.
    (a) The expiration date and renewal period for each license
issued under this Act shall be set by rule. Except as otherwise
provided in Section 5-55 of this Act, the holder of a license
may renew the license within 90 days preceding the expiration
date thereof by paying the fees specified by rule. Upon written
request from the sponsoring broker, OBRE shall prepare and mail
to the sponsoring broker a listing of licensees under this Act
who, according to the records of OBRE, are sponsored by that
broker. Every licensee associated with or employed by a broker
whose license is revoked, suspended, terminated, or expired
shall be considered as inoperative until such time as the
sponsoring broker's license is reinstated or renewed, or the
licensee changes employment as set forth in subsection (c) of
Section 5-40 of this Act.
    (b) OBRE shall establish and maintain a register of all
persons currently licensed by the State and shall issue and
prescribe a form of pocket card. Upon payment by a licensee of
the appropriate fee as prescribed by rule for engagement in the
activity for which the licensee is qualified and holds a
license for the current period, OBRE shall issue a pocket card
to the licensee. The pocket card shall be verification that the
required fee for the current period has been paid and shall
indicate that the person named thereon is licensed for the
current renewal period as a broker, salesperson, or leasing
agent as the case may be. The pocket card shall further
indicate that the person named thereon is authorized by OBRE to
engage in the licensed activity appropriate for his or her
status (broker, salesperson, or leasing agent). Each licensee
shall carry on his or her person his or her pocket card or, if
such pocket card has not yet been issued, a properly issued
sponsor card when engaging in any licensed activity and shall
display the same on demand.
    (c) Any person licensed as a broker shall be entitled at
any renewal date to change his or her license status from
broker to salesperson.
(Source: P.A. 91-245, eff. 12-31-99.)
 
    (225 ILCS 454/5-70)
    (Section scheduled to be repealed on January 1, 2010)
    Sec. 5-70. Continuing education requirement; broker or
salesperson.
    (a) The requirements of this Section apply to all licensees
who have had a license for less than 15 years as of January 1,
1992.
    (b) Except as otherwise provided in this Section, each
person who applies for renewal of his or her license as a real
estate broker or real estate salesperson must successfully
complete real estate continuing education courses approved by
the Advisory Council at the rate of 6 hours per year or its
equivalent. In addition, beginning with the pre-renewal period
for broker licensees that begins after the effective date of
this amendatory Act of the 93rd General Assembly, to renew a
real estate broker's license, the licensee must successfully
complete a 6-hour broker management continuing education
course approved by OBRE. Successful completion of the course
shall include achieving a passing score as provided by rule on
a test developed and administered in accordance with rules
adopted by the OBRE. Beginning on the first day of the
pre-renewal period for broker licensees that begins after the
effective date of this amendatory Act of the 93rd General
Assembly, the 6-hour broker management continuing education
course must be completed by all persons receiving their initial
broker's license within 180 days after the date of initial
licensure as a broker. No license may be renewed except upon
the successful completion of the required courses or their
equivalent or upon a waiver of those requirements for good
cause shown as determined by the Commissioner with the
recommendation of the Advisory Council. The requirements of
this Article are applicable to all brokers and salespersons
except those brokers and salespersons who, during the
pre-renewal period:
        (1) serve in the armed services of the United States;
        (2) serve as an elected State or federal official;
        (3) serve as a full-time employee of OBRE; or
        (4) are admitted to practice law pursuant to Illinois
    Supreme Court rule.
    (c) A person who is issued an initial license as a real
estate salesperson less than one year prior to the expiration
date of that license shall not be required to complete
continuing education as a condition of license renewal. A
person who is issued an initial license as a real estate broker
less than one year prior to the expiration date of that license
and who has not been licensed as a real estate salesperson
during the pre-renewal period shall not be required to complete
continuing education as a condition of license renewal. A
person receiving an initial license as a real estate broker
during the 90 days before the broker renewal date shall not be
required to complete the broker management continuing
education course provided for in subsection (b) of this Section
as a condition of initial license renewal.
    (d) The continuing education requirement for salespersons
and brokers shall consist of a core curriculum and an elective
curriculum, to be established by the Advisory Council. In
meeting the continuing education requirements of this Act, at
least 3 hours per year or their equivalent shall be required to
be completed in the core curriculum. In establishing the core
curriculum, the Advisory Council shall consider subjects that
will educate licensees on recent changes in applicable laws and
new laws and refresh the licensee on areas of the license law
and OBRE policy that the Advisory Council deems appropriate,
and any other areas that the Advisory Council deems timely and
applicable in order to prevent violations of this Act and to
protect the public. In establishing the elective curriculum,
the Advisory Council shall consider subjects that cover the
various aspects of the practice of real estate that are covered
under the scope of this Act. However, the elective curriculum
shall not include any offerings referred to in Section 5-85 of
this Act.
    (e) The subject areas of continuing education courses
approved by the Advisory Council may include without limitation
the following:
        (1) license law and escrow;
        (2) antitrust;
        (3) fair housing;
        (4) agency;
        (5) appraisal;
        (6) property management;
        (7) residential brokerage;
        (8) farm property management;
        (9) rights and duties of sellers, buyers, and brokers;
        (10) commercial brokerage and leasing; and
        (11) real estate financing.
    (f) In lieu of credit for those courses listed in
subsection (e) of this Section, credit may be earned for
serving as a licensed instructor in an approved course of
continuing education. The amount of credit earned for teaching
a course shall be the amount of continuing education credit for
which the course is approved for licensees taking the course.
    (g) Credit hours may be earned for self-study programs
approved by the Advisory Council.
    (h) A broker or salesperson may earn credit for a specific
continuing education course only once during the prerenewal
period.
    (i) No more than 6 hours of continuing education credit may
be earned in one calendar day.
    (j) To promote the offering of a uniform and consistent
course content, the OBRE may provide for the development of a
single broker management course to be offered by all continuing
education providers who choose to offer the broker management
continuing education course. The OBRE may contract for the
development of the 6-hour broker management continuing
education course with an outside vendor and, if the course is
developed in this manner, the OBRE shall license the use of
that course to all approved continuing education providers who
wish to provide the course.
(Source: P.A. 91-245, eff. 12-31-99.)
 
    (225 ILCS 454/15-75 new)
    (Section scheduled to be repealed on January 1, 2010)
    Sec. 15-75. Exclusive brokerage agreements. All exclusive
brokerage agreements must specify that the sponsoring broker,
through one or more sponsored licensees, must provide, at a
minimum, the following services:
        (1) accept delivery of and present to the client offers
    and counteroffers to buy, sell, or lease the client's
    property or the property the client seeks to purchase or
    lease;
        (2) assist the client in developing, communicating,
    negotiating, and presenting offers, counteroffers, and
    notices that relate to the offers and counteroffers until a
    lease or purchase agreement is signed and all contingencies
    are satisfied or waived; and
        (3) answer the client's questions relating to the
    offers, counteroffers, notices, and contingencies.
 
    (225 ILCS 454/20-20)
    (Section scheduled to be repealed on January 1, 2010)
    Sec. 20-20. Disciplinary actions; causes. OBRE may refuse
to issue or renew a license, may place on probation, suspend,
or revoke any license, or may censure, reprimand, or otherwise
discipline or impose a civil fine not to exceed $25,000 upon
any licensee hereunder for any one or any combination of the
following causes:
    (a) When the applicant or licensee has, by false or
fraudulent representation, obtained or sought to obtain a
license.
    (b) When the applicant or licensee has been convicted of
any crime, an essential element of which is dishonesty or fraud
or larceny, embezzlement, or obtaining money, property, or
credit by false pretenses or by means of a confidence game, has
been convicted in this or another state of a crime that is a
felony under the laws of this State, or has been convicted of a
felony in a federal court.
    (c) When the applicant or licensee has been adjudged to be
a person under legal disability or subject to involuntary
admission or to meet the standard for judicial admission as
provided in the Mental Health and Developmental Disabilities
Code.
    (d) When the licensee performs or attempts to perform any
act as a broker or salesperson in a retail sales establishment
from an office, desk, or space that is not separated from the
main retail business by a separate and distinct area within the
establishment.
    (e) Discipline of a licensee by another state, the District
of Columbia, a territory, a foreign nation, a governmental
agency, or any other entity authorized to impose discipline if
at least one of the grounds for that discipline is the same as
or the equivalent of one of the grounds for discipline set
forth in this Act, in which case the only issue will be whether
one of the grounds for that discipline is the same or
equivalent to one of the grounds for discipline under this Act.
    (f) When the applicant or licensee has engaged in real
estate activity without a license or after the licensee's
license was expired or while the license was inoperative.
    (g) When the applicant or licensee attempts to subvert or
cheat on the Real Estate License Exam or continuing education
exam or aids and abets an applicant to subvert or cheat on the
Real Estate License Exam or continuing education exam
administered pursuant to this Act.
    (h) When the licensee in performing, attempting to perform,
or pretending to perform any act as a broker, salesperson, or
leasing agent or when the licensee in handling his or her own
property, whether held by deed, option, or otherwise, is found
guilty of:
        (1) Making any substantial misrepresentation or
    untruthful advertising.
        (2) Making any false promises of a character likely to
    influence, persuade, or induce.
        (3) Pursuing a continued and flagrant course of
    misrepresentation or the making of false promises through
    licensees, employees, agents, advertising, or otherwise.
        (4) Any misleading or untruthful advertising, or using
    any trade name or insignia of membership in any real estate
    organization of which the licensee is not a member.
        (5) Acting for more than one party in a transaction
    without providing written notice to all parties for whom
    the licensee acts.
        (6) Representing or attempting to represent a broker
    other than the sponsoring broker.
        (7) Failure to account for or to remit any moneys or
    documents coming into his or her possession that belong to
    others.
        (8) Failure to maintain and deposit in a special
    account, separate and apart from personal and other
    business accounts, all escrow moneys belonging to others
    entrusted to a licensee while acting as a real estate
    broker, escrow agent, or temporary custodian of the funds
    of others or failure to maintain all escrow moneys on
    deposit in the account until the transactions are
    consummated or terminated, except to the extent that the
    moneys, or any part thereof, shall be disbursed prior to
    the consummation or termination in accordance with (i) the
    written direction of the principals to the transaction or
    their duly authorized agents, (ii) directions providing
    for the release, payment, or distribution of escrow moneys
    contained in any written contract signed by the principals
    to the transaction or their duly authorized agents, or
    (iii) pursuant to an order of a court of competent
    jurisdiction. The account shall be noninterest bearing,
    unless the character of the deposit is such that payment of
    interest thereon is otherwise required by law or unless the
    principals to the transaction specifically require, in
    writing, that the deposit be placed in an interest bearing
    account.
        (9) Failure to make available to the real estate
    enforcement personnel of OBRE during normal business hours
    all escrow records and related documents maintained in
    connection with the practice of real estate within 24 hours
    of a request for those documents by OBRE personnel.
        (10) Failing to furnish copies upon request of all
    documents relating to a real estate transaction to all
    parties executing them.
        (11) Failure of a sponsoring broker to timely provide
    information, sponsor cards, or termination of licenses to
    OBRE.
        (12) Engaging in dishonorable, unethical, or
    unprofessional conduct of a character likely to deceive,
    defraud, or harm the public.
        (13) Commingling the money or property of others with
    his or her own.
        (14) Employing any person on a purely temporary or
    single deal basis as a means of evading the law regarding
    payment of commission to nonlicensees on some contemplated
    transactions.
        (15) Permitting the use of his or her license as a
    broker to enable a salesperson or unlicensed person to
    operate a real estate business without actual
    participation therein and control thereof by the broker.
        (16) Any other conduct, whether of the same or a
    different character from that specified in this Section,
    that constitutes dishonest dealing.
        (17) Displaying a "for rent" or "for sale" sign on any
    property without the written consent of an owner or his or
    her duly authorized agent or advertising by any means that
    any property is for sale or for rent without the written
    consent of the owner or his or her authorized agent.
        (18) Failing to provide information requested by OBRE,
    within 30 days of the request, either as the result of a
    formal or informal complaint to OBRE or as a result of a
    random audit conducted by OBRE, which would indicate a
    violation of this Act.
        (19) Advertising by means of a blind advertisement,
    except as otherwise permitted in Section 10-30 of this Act.
        (20) Offering guaranteed sales plans, as defined in
    clause (A) of this subdivision (20), except to the extent
    hereinafter set forth:
            (A) A "guaranteed sales plan" is any real estate
        purchase or sales plan whereby a licensee enters into a
        conditional or unconditional written contract with a
        seller by the terms of which a licensee agrees to
        purchase a property of the seller within a specified
        period of time at a specific price in the event the
        property is not sold in accordance with the terms of a
        listing contract between the sponsoring broker and the
        seller or on other terms acceptable to the seller.
            (B) A licensee offering a guaranteed sales plan
        shall provide the details and conditions of the plan in
        writing to the party to whom the plan is offered.
            (C) A licensee offering a guaranteed sales plan
        shall provide to the party to whom the plan is offered
        evidence of sufficient financial resources to satisfy
        the commitment to purchase undertaken by the broker in
        the plan.
            (D) Any licensee offering a guaranteed sales plan
        shall undertake to market the property of the seller
        subject to the plan in the same manner in which the
        broker would market any other property, unless the
        agreement with the seller provides otherwise.
            (E) Any licensee who fails to perform on a
        guaranteed sales plan in strict accordance with its
        terms shall be subject to all the penalties provided in
        this Act for violations thereof and, in addition, shall
        be subject to a civil fine payable to the party injured
        by the default in an amount of up to $25,000.
        (21) Influencing or attempting to influence, by any
    words or acts, a prospective seller, purchaser, occupant,
    landlord, or tenant of real estate, in connection with
    viewing, buying, or leasing real estate, so as to promote
    or tend to promote the continuance or maintenance of
    racially and religiously segregated housing or so as to
    retard, obstruct, or discourage racially integrated
    housing on or in any street, block, neighborhood, or
    community.
        (22) Engaging in any act that constitutes a violation
    of any provision of Article 3 of the Illinois Human Rights
    Act, whether or not a complaint has been filed with or
    adjudicated by the Human Rights Commission.
        (23) Inducing any party to a contract of sale or lease
    or brokerage agreement to break the contract of sale or
    lease or brokerage agreement for the purpose of
    substituting, in lieu thereof, a new contract for sale or
    lease or brokerage agreement with a third party.
        (24) Negotiating a sale, exchange, or lease of real
    estate directly with any person if the licensee knows that
    the person has a written exclusive brokerage agreement with
    another broker, unless specifically authorized by that
    broker.
        (25) When a licensee is also an attorney, acting as the
    attorney for either the buyer or the seller in the same
    transaction in which the licensee is acting or has acted as
    a broker or salesperson.
        (26) Advertising or offering merchandise or services
    as free if any conditions or obligations necessary for
    receiving the merchandise or services are not disclosed in
    the same advertisement or offer. These conditions or
    obligations include without limitation the requirement
    that the recipient attend a promotional activity or visit a
    real estate site. As used in this subdivision (26), "free"
    includes terms such as "award", "prize", "no charge", "free
    of charge", "without charge", and similar words or phrases
    that reasonably lead a person to believe that he or she may
    receive or has been selected to receive something of value,
    without any conditions or obligations on the part of the
    recipient.
        (27) Disregarding or violating any provision of the
    Land Sales Registration Act of 1989, the Illinois Real
    Estate Time-Share Act, or the published rules promulgated
    by OBRE to enforce those Acts.
        (28) Violating the terms of a disciplinary order issued
    by OBRE.
        (29) Paying compensation in violation of Article 10 of
    this Act.
        (30) Requiring a party to a transaction who is not a
    client of the licensee to allow the licensee to retain a
    portion of the escrow moneys for payment of the licensee's
    commission or expenses as a condition for release of the
    escrow moneys to that party.
        (31) Disregarding or violating any provision of this
    Act or the published rules promulgated by OBRE to enforce
    this Act or aiding or abetting any individual, partnership,
    registered limited liability partnership, limited
    liability company, or corporation in disregarding any
    provision of this Act or the published rules promulgated by
    OBRE to enforce this Act.
        (32) Failing to provide the minimum services required
    by Section 15-75 of this Act when acting under an exclusive
    brokerage agreement.
(Source: P.A. 91-245, eff. 12-31-99.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/19/2004