Agency
Designated agency in Indiana means:
AOne broker represents both parties in the same transaction
BA principal broker designates different affiliated brokers to represent buyer and seller separately✓ Correct
CThe state designates an agent for unrepresented parties
DA buyer and seller agree to use the same agent without disclosure
Explanation
Designated agency allows a principal broker to appoint separate affiliated licensees to represent the buyer and seller, reducing dual agency conflicts.
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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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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