What is 'designated agency' in the context of a real estate brokerage?
Correct Answer
B) A system where the broker designates specific agents within the firm to represent different clients in the same transaction, so each client has their own dedicated representative
Designated agency allows a brokerage to assign specific agents to represent different clients in the same transaction. Each designated agent owes fiduciary duties to their assigned client, helping avoid the conflicts inherent in dual agency.
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