Under the Illinois Real Estate License Act, which statement correctly describes the core duties a licensee owes to a represented client?
Correct Answer
A) The licensee must promote the client's best interests, maintain confidentiality of client information, and perform the terms of the brokerage agreement.
Under 225 ILCS 454/15-15, a licensee representing a client owes a defined set of duties including promoting the client's best interests, keeping client information confidential, and performing the terms of the brokerage agreement. These three duties work together as the foundation of client representation under Illinois law — loyalty-type duties cannot be selectively applied or waived by the licensee.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
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