Illinois License Law
What is 'designated agency' under Illinois real estate law?
AWhen a managing broker designates only one broker to handle all transactions
BWhen a brokerage designates separate brokers to represent the buyer and seller in the same transaction, providing full fiduciary representation to each✓ Correct
CWhen IDFPR designates an agent to handle disputed transactions
DA form of dual agency where both parties receive reduced services
Explanation
Designated agency occurs when a brokerage represents both the buyer and seller in the same transaction but designates different individual brokers within the firm to represent each party. Each designated agent can provide full fiduciary representation to their client. The managing broker and brokerage may still be considered dual agents, but the designated agents themselves focus solely on their respective clients' interests.
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