Agency
What is a 'designated agency' arrangement in Connecticut?
AThe broker personally represents all clients
BTwo separate licensees within the same firm are designated to represent the buyer and seller individually✓ Correct
CAn attorney is designated to close the transaction
DA licensee from another state is designated to assist a Connecticut broker
Explanation
Designated agency allows a broker to assign one affiliated licensee to represent the buyer and another to represent the seller within the same transaction, preserving individual representation while the broker remains a dual agent.
Related Connecticut Agency Questions
- Sub-agency in Connecticut real estate means a cooperating broker in a transaction represents:
- In Connecticut, the fiduciary duty of 'reasonable care and diligence' requires a real estate agent to:
- When does a Connecticut real estate agent's agency relationship with a seller typically terminate?
- Which of the following is an example of an agent's duty of accounting?
- In Connecticut, when a real estate broker represents a buyer in a transaction, the broker is acting as:
- Which of the following best describes a transaction broker in Connecticut?
- Under Connecticut agency law, a designated agency arrangement means:
- The agency relationship between a Connecticut broker and seller is MOST commonly created by:
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