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Ga Agency BrretaDesignated_agency_gaEASY

Broker James wants to establish designated agency for a transaction where his agent Amy represents the seller and agent Bob represents the buyer. What is required under Georgia law for this arrangement to be valid?

Correct Answer

D) Written consent from both parties after proper disclosure

Correct: D - Written consent from both parties after proper disclosure. Georgia law requires written consent from all parties after proper disclosure of the designated agency relationship and its implications. Why not A: This option is incorrect because "Verbal consent from both parties" does not match the rule tested by the question. The correct answer is "Written consent from both parties after proper disclosure". Georgia law requires written consent from all parties after proper disclosure of the designated agency relationship and its implications. Why not B: This option is incorrect because "GREC approval before implementation" does not match the rule tested by the question. The correct answer is "Written consent from both parties after proper disclosure". Georgia law requires written consent from all parties after proper disclosure of the designated agency relationship and its implications. Why not C: This option is incorrect because "A separate designated agency license" does not match the rule tested by the question. The correct answer is "Written consent from both parties after proper disclosure". Georgia law requires written consent from all parties after proper disclosure of the designated agency relationship and its implications.

Answer Options
A
Verbal consent from both parties
B
GREC approval before implementation
C
A separate designated agency license
D
Written consent from both parties after proper disclosure

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Related Topics & Key Terms

Key Terms:

written_consentdisclosuredesignated_agency

Related Concepts

An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.

An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.

The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.

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