Agency
Under Illinois agency law, which of the following best describes a 'subagent'?
AAn agent who works under a buyer's agent
BA licensee who cooperates with the listing broker and owes fiduciary duties to the seller✓ Correct
CAn agent who represents both buyer and seller simultaneously
DA provisional broker not yet fully licensed
Explanation
In Illinois, subagency exists when a cooperating broker works as a subagent of the seller through the listing broker. In this arrangement, the cooperating broker owes fiduciary duties to the seller, not the buyer.
Related Illinois Agency Questions
- Which of the following actions by a seller's agent would violate the duty of disclosure to the buyer?
- 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:
- The Illinois Real Estate License Act defines a 'designated agent' as:
- An exclusive right-to-sell listing is the most common type of listing in Illinois because it:
- Ratification in agency law occurs when:
- What is the primary difference between an exclusive right-to-sell listing and an exclusive agency listing in Illinois?
- Under Illinois law, a broker who represents a buyer in a residential transaction must:
- A listing broker discovers that the property has an underground storage tank that has not been disclosed. The broker's duty requires:
Practice More Illinois Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Illinois Quiz →