Opinion

Home column had erroneous information

Posted November 01, 2014 5:01 am

The Oct. 24 Section 7 "Barry Stone, Home Inspector" column ("Who is the buyer's agent working for?"), contains erroneous information in relation to real estate as practiced in Illinois. I checked with Betsy Urbance, attorney for IAR, and she replied: "It looks like Barry Stone is in California, which could be the law there." It is clearly not the presumption in Illinois, a designated agency state. One can look to these sections of the state Real Estate License Act for clarification: Section 15-40 where compensation does not determine agency; Section 15-50 establishing designated agency; and 15-10 which establishes the presumption of designated agency; and, Section 15-55 that specifically does away with subagency in Illinois." I think it would be important for a paper that is distributed in Illinois to convey the correct information to its readers.

Teri Pytel

Lake Zurich

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