The primary difference between a real estate broker (managing broker - Illinois) and a real estate sales associate (broker - Illinois ) is that real estate sales associates are not "brokers" in the general sense of the word. real estate sales associates need not be licensed by the government, but brokers must be licensed. real estate sales associates must work for licensed real estate broker rather than operate their own brokerage operation. real estate brokers need not be licensed by the government, but sales associates must be licensed. The final step in the process of transferring title of real property from one party to the other occurs when the deed is delivered to the title company. executed by the grantor. signed. recorded at the county recorder's office where the property is located. Bob and Madge are retiring to Charleston. Which of these is LEAST likely to impact their homebuying decision? proximity of recreational facilities crime statistics quality of public schools quality of public services A tenancy at will renews automatically every period. may be terminated by either party at any time with proper notice. conveys the property to a tenant for a stated period of time. allows the tenant to occupy the premises as long as he or she wills