Agency
Which of the following statements about listing agreements in Illinois is MOST accurate?
AOral listing agreements are enforceable if two witnesses are present
BListing agreements must be in writing to be enforceable for compensation purposes✓ Correct
CA broker can sue for commission under an oral listing agreement if the sale closes
DListing agreements only require the seller's verbal consent
Explanation
Under the Illinois Statute of Frauds and the Illinois Real Estate License Act, listing agreements must be in writing to be enforceable for the purpose of claiming a commission. An oral listing agreement is generally not enforceable against the seller for commission purposes in Illinois. The written listing agreement must include a specific expiration date, listing price, and compensation structure.
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