Illinois License Law
Under Illinois law, a licensee who engages in 'net listing' agreements:
AIs practicing a widely accepted and legal commission structure
BIs engaging in a practice discouraged by IDFPR due to conflict of interest concerns✓ Correct
CMay only do so with IDFPR approval
DMust disclose the arrangement only to the seller
Explanation
Net listings — where the broker keeps any amount over a minimum price as commission — create a serious conflict of interest because the broker benefits from inflating the sale price. While not explicitly discouraged in all Illinois statutes, IDFPR strongly discourages net listings and may discipline licensees who use them.
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