Under Illinois law, if a licensee is working with a consumer and no written agreement establishes a different agency relationship, how is that consumer treated by default?
Correct Answer
B) As a designated agency client, unless a written agreement provides for a different relationship.
Under 225 ILCS 454/15-75, Illinois establishes designated agency as the default framework governing the relationship between a licensee and a consumer when no written agreement specifies a different arrangement. The statute presumes designated agency unless the parties contractually elect another relationship such as dual agency or a customer (non-agency) arrangement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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