Agency
In Illinois, a broker representing a buyer is called a:
ASeller's subagent
BBuyer's agent✓ Correct
CTransaction broker
DDesignated representative
Explanation
A broker who represents the buyer in a transaction is called the buyer's agent (or buyer's broker). The buyer's agent owes fiduciary duties to the buyer, including loyalty, confidentiality, disclosure, obedience, and accounting.
Related Illinois Agency Questions
- What is the 'duty of loyalty' owed by an Illinois real estate agent to their principal?
- Which of the following best describes the broker's duty of 'disclosure' in an agency relationship?
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