Under Illinois law, when must a sponsoring broker establish a brokerage relationship in writing?
Correct Answer
B) Whenever the sponsoring broker enters a brokerage relationship for listing property or representing a person in a transaction
Under 225 ILCS 454/15-75, a sponsoring broker who enters into a brokerage relationship for the purpose of listing property or representing a buyer, seller, landlord, or tenant must set forth the terms of that relationship in a written brokerage agreement. The requirement attaches at the formation of the relationship, not at a later stage of the transaction.
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