AgencyMEDIUM
Under Illinois law, a designated agency arrangement allows:
Correct Answer
B) Different licensees within the same brokerage to represent opposing parties
Designated agency in Illinois allows different licensees within the same brokerage to represent the buyer and seller separately in the same transaction.
Answer Options
A
One broker to represent both partiesB
Different licensees within the same brokerage to represent opposing partiesC
A licensee to act as a transaction brokerD
Dual agency without disclosureVideo Explanation3 min
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Related Topics & Key Terms
Related Topics:
agency-relationshipsdual-agency-disclosurefiduciary-dutiesbrokerage-operations
Key Terms:
designated agencyIllinois Real Estate License Actin-house transactionfiduciary duty225 ILCS 454
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