Agency
Under California's agency law, a 'designated agent' refers to:
AA broker appointed by the DRE to handle distressed properties
BA specific agent within a brokerage assigned to represent one party when the broker represents both parties✓ Correct
CAn agent licensed in multiple states
DA court-appointed agent for an incompetent seller
Explanation
In a designated agency arrangement, the broker represents both sides but designates specific salespersons to each party, limiting the dual agency issue at the individual agent level (though the broker is still a dual agent).
Related California Agency Questions
- California's agency disclosure requirements mandate that the disclosure be made to a buyer or seller:
- An agent who represents only the seller is obligated to disclose to the buyer which of the following?
- What is 'ratification' in agency law?
- Under California law, which document is used to confirm the agency relationship in a residential real estate transaction?
- When may a California real estate licensee act as a principal (buying or selling for themselves) rather than as an agent?
- The duty of 'accounting' in a fiduciary relationship requires an agent to:
- When does an agency relationship typically terminate in a listing agreement?
- What is a 'subagent' in real estate?
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