AgencyMEDIUM
Which type of agency relationship is NOT recognized in Illinois?
Correct Answer
C) Transaction brokerage
Illinois does not recognize transaction brokerage as a form of agency. Licensees must represent either the buyer, seller, or both as a disclosed dual agent.
Answer Options
A
Exclusive buyer agencyB
Designated agencyC
Transaction brokerageD
Single agencyVideo Explanation3 min
Audio Lesson3 min
Study Infographics
Why This Is the Correct Answer
Sign up free to unlock full analysis
Was this explanation helpful?
More Agency Questions
Which duty requires an agent to keep the principal informed of all material facts?
Under agency law in Nevada, dual agency is:
Under agency law in Hawaii dual agency is:
All correctly describe listing brokers and property managers except:
A New York dual agent must have:
- → Vermont requires agency disclosure:
- → Vermont real estate licensees are regulated by the:
- → Under California law, dual agency is:
- → Listing broker learns prospective buyer owes delinquent child support. Which duty requires disclosure to seller?
- → Under agency law in NH, disclosed dual agency is:
- → If a 16-year-old emancipated minor wishes to sell real property, their broker may:
- → All of the following actions create an agency relationship, except:
- → An agency relationship in real estate is terminated in multiple ways. All of the following are likely to be the cause of termination of an agency relationship, except:
- → Real estate brokers are required to have written employment contracts with:
- → A licensed real estate salesperson is primarily responsible to: