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Pa Agency Consumer NoticeDesignated_agency_paMEDIUM

A seller in Pennsylvania is deciding between dual agency and designated agency after learning that the buyer's agent works at the same brokerage. The seller's agent explains that one key difference is how confidentiality is handled. Under designated agency, what happens to the seller's confidential information?

Correct Answer

B) The seller's confidential information is protected by the designated seller's agent and not shared with the buyer's designated agent

In designated agency, the seller's confidential information is protected by the designated seller's agent. The information barrier prevents the seller's confidential details (such as minimum acceptable price, motivation to sell, etc.) from being shared with the buyer's designated agent.

Answer Options
A
The seller's confidential information is shared with the buyer's agent to ensure transparency in the transaction
B
The seller's confidential information is protected by the designated seller's agent and not shared with the buyer's designated agent
C
The seller's confidential information is automatically disclosed to both parties as required by RELA
D
The seller's confidential information is held by the broker of record who decides what to share

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Related Topics & Key Terms

Key Terms:

designated_agencyconfidentialityseller_protectioninformation_barrier

Related Concepts

The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.

A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.

The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.

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