Agency
In California, a 'designated agency' arrangement allows a broker to:
ARepresent the buyer without any fiduciary duties to the seller
BAssign different agents within the same brokerage to represent each party✓ Correct
CAct as a dual agent without written consent
DCollect commissions from both buyer and seller without disclosure
Explanation
Designated agency allows a broker to appoint separate agents within the same brokerage to represent the buyer and seller independently, potentially reducing the conflicts inherent in traditional dual agency.
Related California Agency Questions
- What is a 'subagent' in real estate?
- A buyer's agent has a duty to maintain confidentiality about the buyer's motivations and financial position. Which of the following CAN the agent reveal to the seller?
- A dual agent represents:
- The duty of 'obedience' in a fiduciary relationship means an agent must:
- Under California law, a real estate broker who manages property for clients must maintain a separate trust account for client funds. Mixing client funds with the broker's personal funds is called:
- In California, when a broker represents both buyer and seller with written consent, what limitations apply to the dual agent?
- Which type of agency is created when a principal's actions lead a third party to reasonably believe an agency relationship exists?
- An agent who fails to disclose a known material defect to a buyer may be liable for:
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