When a broker's in-house salesperson represents the seller and a different in-house salesperson represents the buyer, this is called:
Why Designated agency Is Correct
Answer C: Designated agency
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
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Related Arizona Questions
- When a designated broker in Arizona assigns one salesperson to represent the buyer and a different salesperson from the same brokerage to represent the seller in the same transaction, this is known as:Agency
- In an Arizona in-house sale (buyer and seller both represented by the same brokerage), the broker must:Agency
- When an Arizona agent represents the seller and introduces the buyer as their own client without a buyer's agreement, creating an inadvertent dual agency, the agent should:Agency
- In Arizona, when a broker represents both the buyer and seller in the same transaction, this is known as:Agency
Key Terms to Know
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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