Section 1450.130  Supervision

a)         A managing broker shall exercise reasonable supervision over the activities of licensees and unlicensed assistants working in those offices managed by the managing broker. This supervision of activities includes:

1)         the implementation of office policies and procedures established by the sponsoring broker;

2)         training of licensees or unlicensed assistants;

3)         assisting licensees as necessary in real estate transactions;

4)         supervising those special (escrow) accounts over which the sponsoring broker has delegated responsibility to the managing broker in order to ensure compliance with the special (escrow) account provisions of the Act and this Part;

5)         supervising all advertising of any service for which a license is required;

6)         familiarizing sponsored licensees with the requirements of  federal and state laws relating to the practice of real estate; and

7)         compliance with this Part for licensees and offices under his/her supervision.

b)         The sponsoring broker shall remain ultimately responsible for compliance with this Part. The sponsoring broker shall name a managing broker for every office.

(Source:  Amended at 30 Ill. Reg. 11075, effective June 8, 2006)