Legal Question in Real Estate Law in Illinois

Should I disclose I am a broker?

My question is as follows: I currently run a marketing company whose principal market is real estate. My customers range from mortgage brokers, LO's, realtors, etc. The thing is that I myself am a Loan Originator and Real Estate Broker. Do I have to disclose to my clients that I am LO and/or Broker? I ask before I am afraid they might think I want to steal their clients because I get a client database from each. In the contract we sign it says i will not market to their customers.


Asked on 8/26/05, 12:01 pm

1 Answer from Attorneys

Kenneth J. Ashman Ashman Law Offices, LLC

Re: Should I disclose I am a broker?

Generally speaking, a real estate broker must disclose this fact when selling his or her own real estate. It would take some legal research as to the application of this law to your specific factual situation. You should also have someone review the contract you sign with your customers to ensure compliance with the law and that your rights are being fully protected.

Pls. feel free to contact my firm if you need help in this regard.

-- Kenneth J. Ashman; www.AshmanLawOffies.com; [email protected]

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Answered on 8/29/05, 10:40 pm


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