Agency
Under Illinois law, when does a buyer's agency relationship created by a written buyer representation agreement terminate?
AOnly when the buyer purchases a property
BOn the date specified in the agreement, upon mutual agreement, or upon completion of the purpose for which the agency was created✓ Correct
CAfter 90 days automatically by law
DWhen the buyer visits the 10th property with the agent
Explanation
An agency relationship in Illinois terminates upon: the expiration of the term specified in the agreement, completion of the agency's purpose (closing on a property), mutual agreement to terminate, death or incapacity of a party, breach by either party, or operation of law. A buyer representation agreement should always specify a definite term.
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