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SPONSORING BROKER DISCLOSURE OF DESIGNATED AGENT In Accordance with Illinois Real Estate License Act The (Sponsoring Broker) designates as the Legal Designated Agent of the Sponsoring Broker to work
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How to fill out illinois sponsoring broker disclosure

01
To fill out the Illinois sponsoring broker disclosure, follow these steps:
02
Start by providing your name and contact information as the sponsoring broker.
03
Next, provide the name and contact information of the individual or entity being sponsored.
04
Indicate the type of sponsorship, whether it is for a managing broker, broker, or leasing agent.
05
Provide a detailed description of the compensation arrangement between the sponsoring broker and the individual or entity being sponsored.
06
Include any additional terms or conditions related to the sponsorship, such as termination clauses or payment schedules.
07
Sign and date the disclosure form to indicate your agreement to the terms and conditions stated.
08
Ensure that both parties involved in the sponsorship sign and date the form as well.
09
Keep a copy of the completed disclosure form for your records.

Who needs illinois sponsoring broker disclosure?

01
Anyone in Illinois who wants to sponsor a managing broker, broker, or leasing agent needs to fill out the Illinois sponsoring broker disclosure.
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Illinois sponsoring broker disclosure is a form that discloses information about the sponsoring broker in a real estate transaction.
All real estate brokers and agents in Illinois are required to file the sponsoring broker disclosure.
Illinois sponsoring broker disclosure can be filled out by providing information about the sponsoring broker, including their name, license number, and contact information.
The purpose of Illinois sponsoring broker disclosure is to provide transparency and accountability in real estate transactions.
Information such as the sponsoring broker's name, license number, contact information, and any relationships that may present a conflict of interest must be reported on the disclosure form.
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