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Current as of January 01, 2022 | Updated by FindLaw Staff
§ 15-75. Exclusive brokerage agreements. All exclusive brokerage agreements must be in writing and specify that the sponsoring broker, through one or more sponsored licensees, must provide, at a minimum, the following services:
(1) accept delivery of and present to the client offers and counteroffers to buy, sell, or lease the client's property or the property the client seeks to purchase or lease;
(2) assist the client in developing, communicating, negotiating, and presenting offers, counteroffers, and notices that relate to the offers and counteroffers until a lease or purchase agreement is signed and all contingencies are satisfied or waived; and
(3) answer the client's questions relating to the offers, counteroffers, notices, and contingencies.
Cite this article: FindLaw.com - Illinois Statutes Chapter 225. Professions,Occupations and Business Operations § 454/15-75. Exclusive brokerage agreements. - last updated January 01, 2022 | https://codes.findlaw.com/il/chapter-225-professionsoccupations-and-business-operations/il-st-sect-225-454-15-75/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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