Discover the gateway to your real estate success with ‘Illinois Real Estate License Law and Principles: A Simplified Explanation of the Essential Knowledge Every Licensee Needs to Know to Pass the State Real Estate License Exam.’ This isn’t just another dry textbook; it’s your key to unlocking the thriving world of real estate in Illinois.
Crafted by seasoned practitioners who are also dedicated educators, this book is designed for aspiring real estate professionals like you. It’s not just about passing exams-it’s about truly understanding the essential elements that shape the industry.
From the foundational principles to the intricate details of Illinois state laws, every page is packed with straightforward explanations, step-by-step guidance, and invaluable insights. Whether you’re a pre-license student, contemplating a new career path, or longing to revive your former real estate ambitions, this book is your roadmap to success.
But beyond the technicalities, there’s something deeper here. It’s about more than just memorizing statutes-it’s about embracing the opportunity to represent the dreams and aspirations of buyers, sellers, landlords, and tenants. With each chapter, you’re not just learning; you’re connecting with the heart of real estate in Illinois.
So dive in, absorb the recommendations, guidelines, and real-world tips. Let this book be your trusted companion on your journey to becoming a licensed real estate professional in Illinois. Because when you understand the law, you’re not just a broker-you’re a guardian of dreams, a champion of aspirations, and a catalyst for change in people’s lives.
Inhoudsopgave
CONTENTS
Introduction …….. vii
From the Authors …….. ix
About the Authors……………. xi
CHAPTER 1: Welcome to the World of Real Estate as a Business ……………………………. 1
CHAPTER 2: Real Estate Industry Dynamics………………………………………………………….. 25
CHAPTER 3: Real Estate Practitioners and Professional Organizations……………….. 37
CHAPTER 4: Real Property Distinctions and Details……………………………………………….45
CHAPTER 5: All about Homeownership …………………………………………………………………..59
CHAPTER 6: Law of Agency I ………………………………………………………………………………….. 79
CHAPTER 7: Law of Agency II ………………………………………………………………………………..109
CHAPTER 8: Brokerages, Illinois Licenses, and Office Culture……………………………..123
CHAPTER 9: Show Me the Money! (Compensation)……………………………………………….137
CHAPTER 10: Protecting the Public ………………………………………………………………………..153
CHAPTER 11: Real Property Ownership Interest I …………………………………………………. 177
CHAPTER 12: Real Property Ownership Interest II …………………………………………………197
CHAPTER 13: Mother Nature and Real Estate……………………………………………………….. 211
CHAPTER 14: All about Liens and Real Estate Taxes…………………………………………….. 223
CHAPTER 15: Real Estate Ownership……………………………………………………………………..241
CHAPTER 16: What Are Brokerage Agreements?…………………………………………………..261
CHAPTER 17: Legal Descriptions of Land……………………………………………………………… 287
CHAPTER 18: Real Estate Contracts ………………………………………………………………………301
CHAPTER 19: Deeds ………………………………………………………………………………………………. 323
CHAPTER 20: Titles and Title Records…………………………………………………………………… 345
CHAPTER 21: Financing in Real Estate ………………………………………………………………….. 355
CHAPTER 22: Appraisals in Real Estate ………………………………………………………………….415
CHAPTER 23: Leases……………………………………………………………………………………………….441
CHAPTER 24: The World of Property Management ………………………………………………. 465
CHAPTER 25: The Environment and Real Estate…………………………………………………… 493
CHAPTER 26: The Fair Housing Act, Ethics, and Best Practices…………………………….527
CHAPTER 27: Closing the Deal…………………………………………………………………………………571
CHAPTER 28: Property Development and Land Use………………………………………………605
CHAPTER 29: Real Estate Math and Calculations …………………………………………………. 625
CHAPTER 30: Real Estate License Law in Illinois and What It Means for You……….. 663
Conclusion …………….. 741
Quiz Answers ………………. 743
About the Authors………………. 813
Over de auteur
DR. STEPHANIE KROL is a Real Estate Visionary, Educator and Multifaceted Entrepreneur Dr. Stephanie, is the vice president, co-owner, and COO of Inland Real Estate School, is a living testament to the adage that diversity is the spice of life. Her two decades of educational expertise weaves through the realms of real estate, every facet of traditional on-ground, online, for-profit higher education management, school turn-around, accreditation, new school creation, curriculum, corporate training and development publishing, health, and wellness, crafting a tapestry of excellence and boundless passion. A Proven Excellence in Real Estate: With over 25 years invested in real estate, Dr. Stephanie has established herself as a reputable investor and broker, garnering accolades for her professionalism and commitment to her clients. An Evolved Entrepreneur: Dr. Stephanie’s entrepreneurial spirit knows no bounds. Her multidimensional approach spans luxury residential, estates, equine facilities, and commercial spaces, forging an expansive network of business owners, property owners, and civic leaders in Chicago, western suburban Illinois, and western Michigan. A Multi-Award-Winning Educator: In the sphere of higher education management, Dr. Stephanie shines as a multi-award-winning educator, an esteemed speaker, and a distinguished dean, leaving an indelible mark on the educational landscape. A Literary Maven: Dr. Stephanie’s creative spirit extends to the world of publishing. She’s a full-time certified publishing consultant, and publishing services owner, offering her expertise to authors seeking to bring their work to life. As an author herself, she penned the enlightening and multi-award-winning book, ‘What the Pet Food Industry Is NOT Telling You.
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