Illinois Real Estate Exam Practice Question
In order to collect a commission, which of the following is a requirement for a broker with an open listing?
Correct Answer: C
Rationale: To collect a commission on an open listing, a broker must be the procuring cause of the sale, meaning they must have initiated the transaction that led to the sale. This is essential in demonstrating the broker's role in facilitating the deal.
Option A is incorrect because an open listing does not require inclusion in the MLS, as it is typically not exclusive. Option B is also wrong; while a protection clause can be beneficial, it is not mandatory for open listings. Finally, option D is misleading; while communication is important, there is no specific requirement to notify other brokers within two days regarding the sale for an open listing.
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