Agency
Under Illinois law, when must a buyer's representation agreement be signed?
ABefore showing any property to the buyer
BBefore submitting an offer on a property
CAt or before the time of the first substantive contact✓ Correct
DOnly when the buyer is ready to make an offer
Explanation
Under Illinois real estate law and the 2024 NAR settlement requirements, a written buyer representation agreement must be entered into at or before the time of the first 'substantive contact' with a buyer. This ensures the buyer understands the agency relationship and compensation arrangement before meaningful engagement in the property search process.
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