With the Illinois Legislature's recent attempt to marry theory with practice in the brokerage industry, things just got more complicated. Whether you are a buyer or a seller, do not assume anything about what a Realtor will or will not do for you.
Most property owners enlist the services of a Realtor when they want to sell their property.
The MLS is a service of which most if not all Realtors are members. It lets other Realtors know your home is available for purchase, and, in a sense, invites those Realtors to act as your subagent and show your home to their clients - prospective purchasers. Over the years, however, Realtors have faced a dilemma in representing clients in the sale and purchase of homes. The dilemma arose because most purchasers believed that the Realtor showing them the property was actually their agent. A Federal Trade Commission's study in the 1980s found that 70 percent of all purchasers believed this to be true.