Agency
Under Illinois law, a listing agent who represents a seller owes the buyer which of the following minimum duties?
ALoyalty, confidentiality, and obedience
BDisclosure of known material facts, accounting for funds, and honest dealing✓ Correct
CThe same fiduciary duties owed to the seller
DNo duties to the buyer
Explanation
Even when representing the seller, an Illinois listing agent owes minimum duties to all parties (including the buyer): honest dealing, disclosure of known material facts affecting the property, and proper accounting for any funds received. The listing agent does NOT owe the buyer loyalty, confidentiality, or obedience—those are duties owed exclusively to the seller-client. This framework is established under the Illinois Real Estate License Act of 2000.
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