Question

An Illinois real estate licensee wants to rent his own personal condo, owned in tenancy by the entireties with his wife, who is not licensed. Which statement is true regarding their advertisements?

a) They must advertise under the company name.
b) They need to have "agent-owned," even if it is a company ad.
c) They need make no disclosure, as both are not agents.
d) They may advertise "by owner," as long as they indicate "agent-owned" in any ads.

Answer 1

The correct answer is d) They may advertise "by owner," as long as they indicate "agent-owned" in any ads.

Step-by-step explanation:

The correct answer is d) They may advertise "by owner," as long as they indicate "agent-owned" in any ads.

As an Illinois real estate licensee, the person in question can advertise their own property as long as they disclose their ownership status. They can use the term "by owner" in their advertisements, but it is important to include the phrase "agent-owned" to indicate their licensed status. This ensures transparency and compliance with the law.