Final answer:
A licensee in Illinois can prepare and fill out sales contract documents when facilitating a transaction. They are not responsible for setting dates unilaterally or determining market values officially as part of this task. Sellers can reassure buyers by providing product history, warranties, reviews, and certifications to address imperfect information.
Step-by-step explanation:
In the context of Illinois real estate, a licensee may participate in certain activities when preparing a sales contract. Among the listed options, the correct one is C) Prepare and fill out the sales contract documents. Determining the property's market value is typically the job of an appraiser or could be assisted by a real estate agent or broker through comparative market analysis, but they do not determine it officially in the context of preparing a contract. While they may provide general advice on mortgage rates, they should not be doing so as part of the sales contract preparation. Finally, setting the closing date unilaterally without consulting the parties involved would not be appropriate practice and is also not within their responsibilities when preparing a sales contract.
When sellers face situations where buyers have imperfect information, they might take several steps to reassure them. These include providing a detailed history of the product, offering warranties or guarantees, showcasing reviews and testimonials from other buyers, allowing for an inspection period, or providing certifications from authoritative bodies concerning the product's quality.