An Illinois brokerage agreement may later involve dual agency. When must the client receive the disclosure, and by what point must it be signed?
Correct Answer
A) The form must be presented when the brokerage agreement is entered into, and the client must sign it before the licensee begins acting as a dual agent.
Under 225 ILCS 454/15-45, the dual-agency disclosure form must be presented to the client at the time the brokerage agreement is entered into. However, the client's signature is not required at that exact moment — it must be obtained before the licensee actually begins acting as a dual agent. This two-stage rule separates the presentation obligation from the signing obligation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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