Illinois Real Estate Exam Practice Question
In Illinois, which of the following is required by law to have a real estate license?
Correct Answer: D
Rationale: In Illinois, attorneys who receive a commission on a real estate sale must hold a real estate license, as their compensation structure aligns with activities regulated under real estate law.
Option A is incorrect because employees negotiating bids for demolition are not engaging in real estate transactions but rather construction and contracting, which do not require a real estate license.
Option B is also wrong; employees managing properties for a licensed company do not need a license as long as they are not engaging in transactions independently.
Option C is incorrect, as collecting rent for a property owner does not necessitate a license unless the individual is acting as a property manager in a professional capacity.
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