Illinois Real Estate Broker Post-License Practice Exam

When a broker acts as a dual agent, they represent both the buyer and the seller in the same transaction. In this scenario, it is crucial for the broker to obtain written consent from both parties involved. This requirement is fundamental to ensuring transparency and maintaining trust between the broker and their clients.

The reason written consent is necessary is that dual agency can create potential conflicts of interest, as the broker must balance the differing interests of both parties. By obtaining clear, documented consent, the broker ensures that both the buyer and seller are fully informed of the dual agency arrangement and agree to it. This protects the broker legally and ethically, as they have the approval of both parties to represent them.

Other choices do not adequately fulfill the obligations of a dual agent. Disclosing the dual agency relationship to only one party would not meet the ethical standards expected in real estate transactions, as both parties deserve to be informed. Limiting communication between the buyer and seller might hinder the negotiation process and could also be considered unethical. Providing additional education may be beneficial, but it does not address the immediate requirement of obtaining consent to act as a dual agent.

By focusing on acquiring the required written consent, the broker establishes a clear, ethical foundation for their dual agency role, fostering integrity in