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AgencyTypes_of_agencyHARD

A Missouri designated agent arrangement means:

Correct Answer

B) The broker designates separate agents within the same firm to represent the buyer and seller, with each agent owing full fiduciary duties to their client

Designated agency allows a broker to designate different agents within the firm to exclusively represent the buyer and seller respectively, avoiding the reduced advocacy of dual agency.

Answer Options
A
One agent represents both parties
B
The broker designates separate agents within the same firm to represent the buyer and seller, with each agent owing full fiduciary duties to their client
C
The state designates the agent
D
No agent represents either party

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Related Topics & Key Terms

Related Topics:

dual agencyfiduciary dutiesbroker supervisionMissouri agency disclosurein-house transactions

Key Terms:

designated agencyfiduciary dutiesin-house transactionbroker designationbuyer's agentseller's agent
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