Agency
In Illinois, if a buyer's agent shows their client a property listed by their own brokerage, what must occur?
AThe agent must withdraw as buyer's agent
BThe brokerage must disclose designated agency or dual agency and obtain written consent✓ Correct
CThe listing agent automatically represents both parties
DNo additional disclosure is required
Explanation
When a brokerage's buyer's agent shows a property listed by the same brokerage, Illinois law requires disclosure and written consent for either dual agency or designated agency. The brokerage cannot simply proceed without the informed written consent of all parties to the changed agency relationship.
Related Illinois Agency Questions
- Which of the following is NOT one of the duties a licensee owes to all parties (clients and customers) under Illinois law?
- What are the core fiduciary duties owed by an Illinois real estate agent to their client?
- What is a 'material fact' that must be disclosed by an Illinois real estate agent?
- An Illinois seller's agent who works for a brokerage that also has the buyer's agent in the same transaction owes the buyer the duty of:
- An agent who is representing both the buyer and seller in the same transaction without full written consent from both parties has committed:
- The Illinois Real Estate License Act defines a 'designated agent' as:
- A listing broker discovers that the property has an underground storage tank that has not been disclosed. The broker's duty requires:
- The agency relationship between a broker and client is typically terminated by all of the following EXCEPT:
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