Under Illinois law, when must a brokerage present the dual-agency disclosure form to a client, and when must the client sign it?
Correct Answer
B) It must be presented when the brokerage agreement is entered into, but the client may sign it any time before the licensee begins acting as a dual agent.
Under 225 ILCS 454/15-75, the dual-agency disclosure must be presented to the client at the time the brokerage agreement is entered into. However, the statute permits the client to sign the consent at any point before the licensee actually begins functioning as a dual agent. This two-stage structure — early presentation, deferred signing — is the specific timing mechanism Illinois law establishes.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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