Illinois Real Estate Exam

Category - Real Estate

A form that is usually prepared to allow a real estate licensee to act as an agent for all principle parties to the transaction involved is:
  1. An agreement of sale
  2. An exchange agreement
  3. A loan broker’s statement
  4. A real property securities statement
Explanation
Answer: B. Under an exchange agreement, the real estate licensee acts for both parties. This is one instance where he could earn a commission from each party to the transaction.
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