- 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.
(Source: Amended at 49 Ill. Reg. 9512, effective July 7, 2025)