A brokerage assigns one agent to represent the seller and another agent in the same firm to represent the buyer. Both clients receive fiduciary representation from their own designated agent. What is this arrangement called?
Correct Answer
A) Designated agency
Designated agency is correct because the broker appoints separate licensees within the same firm to each represent one party, preserving fiduciary duties to each client.
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A broker wants to represent both parties in the same transaction where the law allows that practice only with full disclosure and consent. What must the broker obtain first?
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Quinn Brooks helps prepare offers and coordinates the deal but does not owe full fiduciary loyalty to either side. Instead, Quinn Brooks provides limited, neutral assistance. What role best describes Quinn Brooks?