Agency & Contracts·Designated Agency

4.1 — Illinois Agency Law and Designated Agency

Weight: ~12% | Study time: 90 min

Five relationship types: seller agency, buyer agency, dual agency (written consent both parties), designated agency (preferred IL solution — full fiduciary to each client), subagency; OLD CAR duties; confidentiality survives termination; disclosure at first substantive contact (in writing, before price/terms/motivation); Designated Managing Broker neutrality; net listing legal in IL (but discouraged); RELA 2000 as governing statute.