Agency
In Colorado, 'designated agency' means:
AOnly one broker in the entire state can represent a given client
BDifferent brokers within the same company are designated to represent the buyer and seller separately✓ Correct
CA broker designated by the government to handle distressed properties
DAn agency relationship that requires court designation
Explanation
Designated agency (or designated brokerage) occurs when different agents within the same brokerage firm are designated to represent the buyer and seller separately in the same transaction, allowing each to provide full representation to their respective client.
Related Colorado Agency Questions
- Under Colorado law, 'dual agency' as it exists in many states is:
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- A Colorado transaction broker who inadvertently reveals one party's confidential negotiating information to the other:
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- In Colorado, a seller's broker who inadvertently discovers that the buyer's lender has a lower pre-approval amount than the contract price should:
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