Broker Firm ABC in Kansas City, Kansas has a written listing agreement with seller Owen and a written buyer agency agreement with buyer Nina for the same property. The firm's principal broker wants to proceed with designated agency. Under Kansas BRRETA, which of the following is required for designated agency to be valid in this transaction?
Correct Answer
A) Separate licensees must be designated to represent Owen and Nina, and both parties must receive written disclosure and provide consent
Under BRRETA, designated agency requires the firm to assign a different licensee to represent each party — one licensee exclusively represents the seller and a different licensee exclusively represents the buyer. Both parties must receive written disclosure of the designated agency arrangement and must consent to it. This structure allows each party to receive full agency representation without the conflict inherent in dual agency, where one licensee represents both sides.
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Related Topics & Key Terms
Key Terms:
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.
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