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Pa Agency Consumer NoticeDesignated_agency_paEASY

A buyer in Pennsylvania is purchasing a home through designated agency at Summit Realty. The buyer asks his designated agent, 'Can you advocate for me just like a regular buyer's agent would, even though the seller is also at Summit Realty?' What is the correct answer?

Correct Answer

A) Yes, the designated buyer's agent can advocate fully for the buyer with the same fiduciary duties as in a single-agency arrangement

In designated agency, each designated agent owes full fiduciary duties to their own client. The designated buyer's agent can advocate for the buyer with the same level of representation as in a traditional single-agency arrangement. This is the key benefit of designated agency over dual agency.

Answer Options
A
Yes, the designated buyer's agent can advocate fully for the buyer with the same fiduciary duties as in a single-agency arrangement
B
No, because designated agents can only facilitate paperwork and cannot negotiate on behalf of their clients
C
No, because the brokerage represents both parties, the designated agent must remain neutral like a dual agent
D
Yes, but only for the first 30 days of the transaction, after which the agent becomes a transaction licensee

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Related Topics & Key Terms

Key Terms:

designated_agencyfull_advocacyfiduciary_dutiesbuyer_protection

Related Concepts

The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.

An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.

An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.

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