Agency
In Delaware, what is a 'designated agent'?
AA government-appointed agent who handles abandoned properties
BA specific licensee within a brokerage designated by the broker to represent one client, allowing the brokerage to represent both buyer and seller in the same transaction without disclosed dual agency✓ Correct
CThe lead agent in a team of agents representing one client
DThe agent designated to handle the closing on behalf of the brokerage
Explanation
Designated agency allows a broker to designate specific licensees within the office to represent the buyer and seller separately in the same transaction. The designated agents owe full fiduciary duties to their respective clients, while the broker is the dual agent. Delaware law allows designated agency with disclosure and consent.
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