Section 1450.185  Disclosure of Compensation

Pursuant to Section 10-10(b) of the Act, a licensee shall disclose, in writing, any compensation the licensee expects to receive or that he or she knows the licensee's sponsoring broker will receive, arising out of a referral to any person or entity whose services are related to the transaction, including any financial institution, insurance broker, mortgage broker, home inspector, or any other third party.  The disclosure shall indicate the relationship between the licensee or the licensee's sponsoring broker and the referred person or entity, and any interest the licensee or the licensee's sponsoring broker may have in the referred person or entity.

(Source:  Amended at 30 Ill. Reg. 11075, effective June 8, 2006)