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Code · Illinois · Chapter 225 — PROFESSIONS, OCCUPATIONS, AND BUSINESS OPERATIONS · Act 454

(Section scheduled to be repealed on January 1, 2030)

347 words·~2 min read·/il/chapter-225/act-454/1-2

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(Section scheduled to be repealed on January 1, 2030)
Sec. 10-15. No compensation to persons in violation of Act; compensation to unlicensed persons; consumer.
(a)No compensation may be paid to any unlicensed person in exchange for the person performing licensed activities in violation of this Act.
(b)No action or suit shall be instituted, nor recovery therein be had, in any court of this State by any person for compensation for any act done or service performed, the doing or performing of which is prohibited by this Act to other than licensed managing brokers, brokers, or residential leasing agents unless the person was duly licensed hereunder as a managing broker, broker, or residential leasing agent under this Act at the time that any such act was done or service performed that would give rise to a cause of action for compensation.
(c)A licensee may offer compensation, including prizes, merchandise, services, rebates, discounts, or other consideration to an unlicensed person who is a party to a contract to buy or sell real estate or is a party to a contract for the lease of real estate, so long as the offer complies with the provisions of subdivision
(35)of subsection
(a)of Section 20-20 of this Act.
(d)A licensee may offer cash, gifts, prizes, awards, coupons, merchandise, rebates or chances to win a game of chance, if not prohibited by any other law or statute, to a consumer as an inducement to that consumer to use the services of the licensee even if the licensee and consumer do not ultimately enter into a broker-client relationship so long as the offer complies with the provisions of subdivision
(35)of subsection
(a)of Section 20-20 of this Act.
(e)A licensee shall not pay compensation to an unlicensed person who is not or will not become a party to a real estate transaction in exchange for a referral of real estate services.
(f)Nothing in this Section shall be construed as waiving or abrogating the provisions of the Real Estate Settlement Procedures Act (RESPA), 88 Stat. 1724.
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