Question 39

A licensee who has received an Illinois broker's license and is sponsored by a brokerage firm can list and sell property.

A licensee with an Illinois broker's license, when sponsored by a brokerage firm, is authorized to list and sell properties. This capability is a fundamental function of a broker, enabling them to engage in real estate transactions.

A) list and sell property.

This option is correct as it accurately reflects the primary role of a broker in Illinois. A licensed broker can represent clients in the buying and selling of real estate, facilitating transactions and handling necessary documentation.

B) supervise a residential leasing agent.

While brokers have the potential to supervise agents, this specific authority is not guaranteed merely by holding a broker's license and sponsorship. This role typically requires additional qualifications or company policies, making this option less definitive as a primary function of a broker.

C) maintain an escrow account.

Maintaining an escrow account is generally a responsibility of the brokerage firm rather than the individual broker. While brokers may be involved in transactions that require escrow accounts, they do not directly manage these accounts unless specifically authorized or working under specific conditions.

D) manage a small branch office.

Managing a branch office is not automatically a function of having a broker's license and sponsorship. This role typically necessitates additional responsibilities and could require specific company training or qualifications that are not implied by the question.

Conclusion

The capability to list and sell property is the quintessential function of an Illinois broker, making option A the correct choice. Other options either lack definitive authority or require additional qualifications that are not implied by simply being licensed and sponsored. Thus, the primary role of the broker in real estate transactions is best captured by the correct answer.