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225 ILCS 454/15-75

Exclusive brokerage agreements

P.A. 101-357, eff. 8-9-19.

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.

Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.