Flat Fee MLS - Illinois
Illinois’s minimum service provision requires real estate brokers entering into exclusive brokerage agreements to accept and present offers and counteroffers, and answer their clients’ questions in every real estate transaction.
Many MLSs in Illinois have now passed rules requiring brokers to enter into exclusive brokerage agreements, so brokers in those MLSs are prevented from offering, and their clients are prevented from buying, MLS-listing-only services.
In 2008, a bill prohibiting broker rebates was introduced into the General Assembly. The Department of Justice wrote a letter on February 21, 2008 opposing the bill.
Learn more about:
- Brokerage services: Discount Brokers Can Make Selling a Home Less Costly
- Rebates: Rebates Make Buying a Home Less Expensive
Related documents on the Internet:
- Illinois Real Estate License Act of 2000
- Letter to Illinois General Assembly Re: Effects of House Bill 4313 on competition
Illinois Bureau of Real Estate Professions
fpr.realestate at illinois.gov
500 E Monroe St Suite 200 Springfield, IL 62701
Phone: 217-785-9300 Fax: 217-782-3390