Agency
In Alabama, designated agency means:
AThe broker personally represents both parties
BThe broker designates one agent to represent the buyer and a different agent to represent the seller within the same firm✓ Correct
CThe state designates which broker handles a transaction
DOnly one agent in the state may handle a particular property
Explanation
Designated agency allows the broker to appoint (designate) one licensee to represent the buyer and another to represent the seller within the same brokerage, avoiding full dual agency.
Related Alabama Agency Questions
- Which fiduciary duty requires an agent to keep the principal's information private from third parties?
- What is the primary purpose of an exclusive buyer agency agreement in Alabama?
- A listing agreement is a contract between:
- An agent who has an undisclosed interest in a property they are selling on behalf of a client is violating which fiduciary duty?
- A dual agent in Alabama represents:
- A real estate agent who is a designated agent in a dual-agency transaction may:
- Which of the following BEST defines 'dual agency' in Alabama?
- A listing agent who learns that the seller is in severe financial distress must disclose this fact to:
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