Section 1450.790  Broker Price Opinions and Comparative Market Analyses

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 45 Ill. Reg. 2851, effective February 23, 2021)