Bill Text: IL HB4964 | 2025-2026 | 104th General Assembly | Introduced

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Bill Title: Amends the Real Estate License Act of 2000. Requires a licensee representing a seller of residential real estate to share information on the property with any licensees representing prospective buyers, respond to inquiries from any licensees representing prospective buyers, make the property available for showing to prospective buyers, and, within one calendar day of the start date of any brokerage agreement authorizing the licensee to sell the client's property, publicly advertise or market the listed property for sale on an Internet platform or website accessible to the public and any real estate licensees representing prospective buyers unless the seller completes and signs a disclosure and opt-out form prescribed by the Department of Financial and Professional Regulation. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Introduced) 2026-02-06 - Referred to Rules Committee [HB4964 Detail]

Download: Illinois-2025-HB4964-Introduced.html

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104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB4964 Introduced , by Rep. Lilian Jim�nez SYNOPSIS AS INTRODUCED:
225 ILCS 454/15-15
Amends the Real Estate License Act of 2000. Requires a licensee representing a seller of residential real estate to share information on the property with any licensees representing prospective buyers, respond to inquiries from any licensees representing prospective buyers, make the property available for showing to prospective buyers, and, within one calendar day of the start date of any brokerage agreement authorizing the licensee to sell the client's property, publicly advertise or market the listed property for sale on an Internet platform or website accessible to the public and any real estate licensees representing prospective buyers unless the seller completes and signs a disclosure and opt-out form prescribed by the Department of Financial and Professional Regulation. Effective immediately.
LRB104 18342 AAS 31782 b
A BILL FOR
HB4964 LRB104 18342 AAS 31782 b
AN ACT concerning regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Real Estate License Act of 2000 is amended
by changing Section 15-15 as follows:
(225 ILCS 454/15-15)
(Section scheduled to be repealed on January 1, 2030)
Sec. 15-15. Duties of licensees representing clients.
(a) A licensee representing a client shall:
(1) Perform the terms of the brokerage agreement
between a broker and the client.
(2) Promote the best interest of the client by:
(A) Seeking a transaction at the price and terms
stated in the brokerage agreement or at a price and
terms otherwise acceptable to the client.
(B) Timely presenting all offers to and from the
client, unless the client has waived this duty.
(C) Disclosing to the client material facts
concerning the transaction of which the licensee has
actual knowledge, unless that information is
confidential information. Material facts do not
include the following when located on or related to
real estate that is not the subject of the

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transaction: (i) physical conditions that do not have
a substantial adverse effect on the value of the real
estate, (ii) fact situations, or (iii) occurrences and
acts at the property.
(D) Timely accounting for all money and property
received in which the client has, may have, or should
have had an interest.
(E) Obeying specific directions of the client that
are not otherwise contrary to applicable statutes,
ordinances, or rules.
(F) Acting in a manner consistent with promoting
the client's best interests as opposed to a licensee's
or any other person's self-interest.
(G) A licensee representing a seller of
residential real estate shall:
(i) share information on the property with any
licensees representing prospective buyers;
(ii) respond to inquiries from any licensees
representing prospective buyers;
(iii) make the property available for showing
to prospective buyers; and
(iv) within one calendar day of the start date
of any brokerage agreement authorizing the
licensee to sell the client's property, publicly
advertise or market the listed property for sale
on an Internet platform or website accessible to

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the public and any real estate licensees
representing prospective buyers unless the seller
completes and signs a disclosure and opt-out form
prescribed by the Department that includes, but is
not limited to:
(aa) the seller's request in writing that
the listing firm withhold the seller's
property from all public marketing or
advertising identified by the seller; and
(bb) the seller's acknowledgment in
writing that: (I) real estate licensees
representing prospective buyers may not be
aware that the seller's property is available
for sale; (II) the seller's property will not
be displayed on Internet platforms or websites
that are used by the public to search for
property listings; (III) real estate licensees
and prospective buyers may not be aware of the
terms and conditions under which the seller is
offering the property for sale; and (IV) the
reduction in exposure of the listed property
may reduce the number of offers to purchase
the listed property and negatively impact the
seller's ability to sell the listed property
at terms favorable to the seller.
(3) Exercise reasonable skill and care in the

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performance of brokerage services.
(4) Keep confidential all confidential information
received from the client.
(5) Comply with all requirements of this Act and all
applicable statutes and regulations, including without
limitation fair housing and civil rights statutes.
(b) A licensee representing a client does not breach a
duty or obligation to the client by showing alternative
properties to prospective buyers or tenants, by showing
properties in which the client is interested to other
prospective buyers or tenants, or by making or preparing
contemporaneous offers or contracts to purchase or lease the
same property. However, a licensee shall provide written
disclosure to all clients for whom the licensee is preparing
or making contemporaneous offers or contracts to purchase or
lease the same property and shall refer to another designated
agent any client that requests such referral.
(c) A licensee representing a buyer or tenant client will
not be presumed to have breached a duty or obligation to that
client by working on the basis that the licensee will receive a
higher fee or compensation based on higher selling price or
lease cost.
(d) A licensee shall not be liable to a client for
providing false information to the client if the false
information was provided to the licensee by a customer unless
the licensee knew or should have known the information was

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false.
(e) Nothing in the Section shall be construed as changing
a licensee's duty under common law as to negligent or
fraudulent misrepresentation of material information.
(Source: P.A. 101-357, eff. 8-9-19.)
Section 99. Effective date. This Act takes effect upon
becoming law.