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  • The definition of brokerage agreement is changed to mean a written agreement.
    • The brokerage agreement can be exclusive or non-exclusive (non-exclusive allows the client to work with more than one brokerage at the same time).
      • If the agreement is a non-exclusive one, it is sensible to have a provision prohibiting the signing of an exclusive agreement that covers the same or similar timeframe (this is not a RELA change but a best practice suggestion from Illinois Realtors®).
    • A written agreement is required when you begin working with a consumer as their designated agent.
      • Rules will clarify that the agreement must be signed when beginning to work with a client but no later than prior to showing or touring properties.
    • The requirement for a written brokerage agreement applies to all forms of real estate brokerage.
      • Sales
      • Rentals
      • Property Management
      • Commercial
    • Failure to have a written brokerage agreement has been added to the list of possible disciplinary actions.