Agency
The agency relationship between a broker and client is typically terminated by all of the following EXCEPT:
AMutual agreement to terminate
BExpiration of the listing agreement
CThe client finding a buyer on their own✓ Correct
DCompletion of the purpose of the agency (sale of the property)
Explanation
An agency relationship is typically terminated by: mutual agreement, expiration of the agreed term, completion of the purpose, death of a party, or breach. Under an exclusive right-to-sell listing, the broker is still entitled to a commission even if the seller finds the buyer themselves. The seller finding a buyer does not terminate an exclusive right-to-sell agency.
Related Illinois Agency Questions
- Under Illinois law, when does a buyer's agency relationship created by a written buyer representation agreement terminate?
- What is the 'anti-commingling' principle and how does it apply to agency relationships in Illinois?
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- Under Illinois law, a licensee who is working as a buyer's agent and also receives compensation from the seller's side without disclosure is engaging in:
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