A Vermont licensee is asked about a designated agency firm appoints separate agents for buyer and seller. What is the best answer?
Correct Answer
D) Each designated agent owes fiduciary duties to that agent's own client, and the firm must protect client confidences
Vermont designated agency delegates fiduciary duties to appointed agents while protecting client confidences. Source basis: Vermont Real Estate Commission Administrative Rules, OPR publication, checked 2026-04-30
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Related Topics & Key Terms
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Related Concepts
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
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.
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