Ill. Admin. Code tit. 68 § 1450.790

Current through Register Vol. 48, No. 43, October 25, 2024

Section 1450.790 - Broker Price Opinions and Comparative Market Analyses

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.

Ill. Admin. Code tit. 68, § 1450.790

Added at 40 Ill. Reg. 12588, effective 9/2/2016

Amended at 45 Ill. Reg. 2851, effective 2/23/2021