Nebraska's Brokerage Relationships in Real Estate Act recognizes which types of brokerage relationships?
Correct Answer
B) Seller's agent, buyer's agent, dual agent, and designated agent
Nebraska's Brokerage Relationships in Real Estate Act (Neb. Rev. Stat. §§ 76-2401 et seq.) recognizes four distinct brokerage relationship types: seller's agent, buyer's agent, dual agent, and designated agent. Designated agency is a separate statutory category in which the broker designates individual licensees within the same brokerage to represent the buyer and seller independently as single agents. This is distinct from dual agency, in which one licensee represents both parties simultaneously with their informed written consent.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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