In Illinois, can a licensee ever legally act on behalf of a lessor and lessee in a transaction?

While the approval of the sponsoring broker is important for overall compliance and ethical practices, it does not suffice for dual representation. The law specifically requires informed written consent from all parties in the transaction to ensure that both the lessor and lessee understand the implications of shared representation.

Illinois operates under designated agency, which allows licensees to represent multiple parties, provided they have the necessary consent. This option does not preclude the possibility of dual representation; rather, it establishes the conditions under which it can occur, including the requirement for informed written consent.

This statement is inaccurate as the Illinois Real Estate License Law does not outright prohibit a licensee from acting on behalf of both parties. Instead, it sets clear guidelines requiring informed written consent to proceed with such representation, allowing for dual agency under regulated circumstances.