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.
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Related Topics & Key Terms
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Related Concepts
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
More Agency Questions
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- → How is implied agency most commonly created?
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- → Information about the lowest price a seller will accept is:
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- → Virginia continuing education requirements for salespersons include:
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