Under Nebraska's designated agency statute, a broker who designates separate licensees to represent the buyer and seller in the same transaction allows:
Correct Answer
B) Each designated licensee to act as a single agent for their respective client within the same brokerage
Under Nebraska's designated agency framework (Neb. Rev. Stat. §§ 76-2401 et seq.), when a broker designates separate licensees to represent the buyer and seller in the same transaction, each designated licensee acts as a single agent solely for their respective client. This is distinct from dual agency: while the supervising broker may occupy a dual-agency role at the brokerage level, the designated licensees provide independent, focused representation to each party and owe that party full single-agent duties. Designated agency must be disclosed and agreed to by the parties in writing.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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.
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