Agency
In a designated agency arrangement in Delaware, two licensees from the same firm each represent one party. The broker:
ARepresents only the seller
BRepresents only the buyer
CServes as a dual agent✓ Correct
DHas no role in the transaction
Explanation
In designated agency, the broker typically serves as a dual agent while the two designated agents each represent one party exclusively, avoiding a dual agency conflict at the agent level.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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