According to BCFSA rules, what is 'designated agency' in a real estate transaction?
Correct Answer
C) When a brokerage appoints one licensee to represent the buyer and another the seller in one transaction
Designated agency occurs when the same brokerage has two different licensees each representing one party in a transaction. The brokerage designates one licensee to the buyer and another to the seller, and each licensee owes full fiduciary duties to their respective client.
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