Legal Question in Real Estate Law in Illinois

As someone newly licensed (and therefore presumably having just obtained your licensing education) you should know the answers to these questions. That being said...

1. "Holdco" / "Inactive Status" - ain't no such thing(s). Except for solo managing brokers who have their own offices, every other broker must "hang" his or her license someplace, and if it's a corporation the corporation must hold a corporate real estate license. The licensing act is all about accountability -- the buck must stop somewhere. There is no such thing either as "inactive" status - however you may find a brokerage that is willing to "hold" your license without obligating you to their internal production requirements.

2. "Referrals" - you are entitled to a referral fee if you refer a client to a broker - you must make the actual introduction or otherwise be contractually obligated to do so. That's in the administrative rules.

Take the time and read the act, and the administrative rules.