(Section scheduled to be repealed on January 1, 2030)

466 words·~2 min read·/il/chapter-225/act-454/1-84

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

Sec. 5-32. Real estate auction certification.

(a)An auctioneer licensed under the Auction License Act who does not possess a valid and active broker's or managing broker's license under this Act, or who is not otherwise exempt from licensure, may not engage in the practice of auctioning real estate, except as provided in this Section.

(b)The Department shall issue a real estate auction certification to applicants who:

(1)possess a valid auctioneer's license under the Auction License Act;

(2)successfully complete a real estate auction course of at least 30 hours approved by

the Department, which shall cover the scope of activities that may be engaged in by a person holding a real estate auction certification and the activities for which a person must hold a real estate license, as well as other material as provided by the Department;

(3)provide documentation of the completion of the real estate auction course; and

(4)successfully complete any other reasonable requirements as provided by rule.

(c)The auctioneer's role shall be limited to establishing the time, place, and method of the real estate auction, placing advertisements regarding the auction, and crying or calling the auction; any other real estate brokerage activities must be performed by a person holding a valid and active broker's or managing broker's license under the provisions of this Act or by a person who is exempt from holding a license under paragraph

(13)of Section 5-20 who has a certificate under this Section.

(d)An auctioneer who conducts any real estate auction activities in violation of this Section is guilty of unlicensed practice under Section 20-10 of this Act.

(e)The Department may revoke, suspend, or otherwise discipline the real estate auction certification of an auctioneer who is adjudicated to be in violation of the provisions of this Section or Section 20-15 of the Auction License Act.

(f)Advertising for the real estate auction must contain the name and address of the licensed broker, managing broker, or a licensed auctioneer under paragraph

(13)of Section 5-20 of this Act who is providing brokerage services for the transaction.

(g)The requirement to hold a real estate auction certification shall not apply to a person exempt from this Act under the provisions of paragraph

(13)of Section 5-20 of this Act, unless that person is performing licensed activities in a transaction in which a licensed auctioneer with a real estate certification is providing the limited services provided for in subsection

(c)of this Section.

(h)Nothing in this Section shall require a person licensed under this Act as a broker or managing broker to obtain a real estate auction certification in order to auction real estate.

(i)The Department may adopt rules to implement this Section.