Idaho License Law
What is a 'designated agency' model and has Idaho adopted it?
AIdaho uses an individual agent representation model, not a designated agency model
BDesignated agency allows a broker to designate specific agents to represent only the buyer or only the seller in an in-house transaction, rather than creating dual agency✓ Correct
CIdaho requires dual agency for all in-house transactions
DDesignated agency is the same as disclosed limited agency in Idaho
Explanation
Some states use designated agency where a broker designates one agent to represent the buyer and another to represent the seller in an in-house transaction, avoiding dual agency. Idaho uses the 'disclosed limited agency' framework instead.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
EasementA non-possessory right to use another person's land for a specific purpose.
State-Specific Concepts
License Law
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