What is 'designated agency' in the context of Alberta real estate?
Correct Answer
A) When a brokerage designates separate associates for each party, each owing fiduciary duties to their own client
Under Rule 58.1 of the RECA Rules, a designated brokerage agreement must say that the brokerage designates a licensee as sole agent for the seller and designates other licensees as sole agents for interested buyers, and that the agency relationship exists only with the designated agent, not with the brokerage (Rule 58.1(3)). Each designated agent owes the same duties as a sole agent under Rules 57 and 58, while the brokerage's role is limited to even-handed supervision and protecting confidential information.
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