Agency
A 'designated agency' arrangement in California refers to:
AA government-appointed agent managing foreclosed properties
BA broker designating specific salespersons to represent each party in a transaction, limiting dual agency✓ Correct
CAn agent designated by the DRE to handle complaints against other agents
DA seller who designates a family member to act as their real estate agent
Explanation
In designated agency, a broker designates one licensee from their office to represent the buyer and a different licensee to represent the seller in the same transaction. This allows each party to receive more focused representation than traditional dual agency, though the broker may still technically be a dual agent.
Related California Agency Questions
- What is meant by the agent's duty of 'accounting'?
- When does a California agency relationship typically terminate in a residential sale?
- California's agency disclosure requirements mandate that the disclosure be made to a buyer or seller:
- Under California law, all real estate salespersons must work under the supervision of:
- An 'ostensible agency' (apparent authority) arises when:
- Which of the following is a fiduciary duty owed by a California listing broker to the seller?
- What is a 'net listing' and why is it controversial in California?
- The 'duty of obedience' requires a real estate agent to follow all lawful instructions of the principal. Which instruction would an agent be JUSTIFIED in refusing?
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