What must a sponsoring broker do to terminate their relationship with a licensee?

To terminate their relationship with a licensee, a sponsoring broker must complete specific documentation and notify the Illinois Department of Financial and Professional Regulation (IDFPR). This process is essential to formally end the association between the broker and the licensee. The documentation may include a termination form or other paperwork that officially records the conclusion of the broker's sponsorship. Notifying IDFPR is a regulatory requirement that ensures proper oversight of the real estate profession and maintains accurate records regarding licensees, which is critical for compliance with state regulations.

The necessity for specific documentation emphasizes the legal and administrative nature of this procedure, ensuring that all parties involved are informed and that the termination is duly recognized by the governing body. This reflects adherence to formal processes designed to uphold professional standards in real estate practice within Illinois.