Illinois General Assembly - Illinois Compiled Statutes

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225 ILCS 454/15-75

    (225 ILCS 454/15-75)
    (Section scheduled to be repealed on January 1, 2030)
    Sec. 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.

(Source: P.A. 101-357, eff. 8-9-19.)