A brokerage assigns one licensee to advocate exclusively for the seller and a different licensee in the same office to advocate exclusively for the buyer in the same transaction. What agency arrangement does this describe?
Correct Answer
C) Designated agency
Designated agency is correct because the broker appoints separate licensees within the same firm to each represent one party, allowing each client to retain a fiduciary advocate.
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After signing a buyer-representation agreement, Parker James enters into an agency relationship and is now owed fiduciary duties by the brokerage. What term best describes Parker James's status?
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An elderly father is diagnosed with progressive dementia and signs a comprehensive power of attorney in favor of his daughter. The instrument expressly authorizes her to sell his house, manage his investments, pay his bills, sign deeds and contracts, and make virtually any other legal or business decision for him. She is not limited to one transaction or one business sector — her authority sweeps across nearly every aspect of his affairs. When she signs documents, they bind her father with the same legal effect as if he had signed personally. Which classification of agent best describes the daughter's authority?