Instructor: Kris Brown
Location: Chicago-area • Crystal Lake
Start Date: Feb 26, 2020 • End Date: Feb 26, 2020
Credit Hours: 3 – Elective
Heartland REALTOR® Organization
www.heartland.com or 815-459-0600
The intent of license law is “to evaluate the competency of persons engaged in the real estate business and to regulate this business for the protection of the public.’ Article 10 of License Law emphasizes compensation and who may be entitled to compensation. Article 15 (Agency Relationships) of License Law stresses the impact that the real estate industry has on the Illinois economy, and importance of licensees behaving in the best interest of the public. As we unite these constructs into “big picture” thinking, it necessitates an understanding of the compensation dispute resolution process. REALTORS®, as licensees, should have a basic understanding of the process. They have an obligation to consumers whether as customers or clients to make them aware of what’s available in settling or negotiating monetary disagreements. REALTORS®, as licensees, should know the avenues available to them in settling monetary disagreements and their obligations towards settlement. Awareness of the process and an understanding of it may prevent REALTORS®, as licensees, from interfering with the forward motion of the transaction, and from involving their clients in unnecessary squabbles over who gets the money.
This course presents the compensation dispute process – initial complaint filing through the hearing panel’s decision. It is a blend of lecture and group discussions using quiz questions and case studies.