At a training session in Naperville, Logan Jenkins is about to represent both buyer and seller as dual agent and asks whether verbal permission is enough. Which answer is correct?
Correct Answer
D) No. Illinois requires informed written consent of all clients before a licensee may act as a dual agent.
Illinois allows dual agency only with informed written consent of all clients.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
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