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Illinois Real Estate Agent Listing Agreement

An Illinois real estate agent listing agreement is a contract that outlines the conditions under which an agent is permitted to sell an owner's residential or commercial property. The contract will specify the desired sales price and the agent's commission rate.
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Agency Disclosure

No standardized form. When a licensee agrees to work as a designated agent for a buyer or seller, the licensee must supply the individual with a written disclosure explaining the designated agent relationship.
The required information can be mentioned in the brokerage agreement or in a separate document. Illinois REALTORS® have supplied the Disclosure of Designated Agency which is permitted for use in this circumstance.[1]

Dual Agency

Legal in Illinois. Real estate agents may only act as a dual agent with the informed written consent of each party. A consent agreement must be drafted by the agent and signed by the buyer and seller.[2]

Property Disclosure Statement

A property disclosure report must be completed by the seller and given to the buyer before the execution of a purchase agreement. However, if the seller has neither lived in the property nor managed the property, they are exempt from the property disclosure requirement.[3][4]

Search a Licensee

Search for the license information of a real estate agent in Illinois.