Under Illinois law, what is required before a licensee may act as a dual agent?
Correct Answer
A) Informed written consent must be obtained from all clients prior to the licensee acting as a dual agent.
Under the Illinois Real Estate License Act of 2000 (225 ILCS 454/15-45), a licensee may not act as a dual agent without the informed written consent of all clients. The consent must be obtained before the dual agency begins, ensuring all parties knowingly agree to the arrangement. Written consent protects clients by creating a documented record that they understood and accepted the inherent conflicts of dual representation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
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.
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