Illinois REALTORS® Legal Hotline Attorney Anneliese Fierstos talked about procuring cause, presentation of offers, who can sign listing agreements and the Residential Real Property Act during Wednesday’s Legal Update at the Illinois REALTORS® Spring Conference & Expo at the Collinsville Gateway Center.
Three takeaways from her presentation:
- In divorce situations, ask a lot of questions, gather all the facts and get signatures of both spouses on listing agreements,
- It is permissible to pay unlicensed assistants from LLCs as long as brokerage policies allow it,
- Even though the state does not require them, Illinois REALTORS® should use exclusive buyer’s agreements.
Bonus input from IDFPR
Several takeaways from IDFPR’s Director of the Division of Real Estate Laurie Murphy:
- IDFPR plans to upgrade its website and IT systems to provide better customer service,
- IDFPR is offering Spring Conference & Expo attendees the opportunity to update contact information at its Expo Hall booth.
- Of the 46,435 brokers who renewed their licenses to date, 6,500 renewed on the deadline day (April 30).
