Agency
Designated agency in Iowa means:
AThe managing broker represents all parties in the transaction
BThe brokerage appoints specific licensees to exclusively represent the buyer and seller in the same transaction✓ Correct
CThe Iowa Real Estate Commission designates which agent may represent a consumer
DA court-appointed agent handles a disputed transaction
Explanation
In designated agency, the brokerage appoints (designates) one licensee to represent the buyer and a different licensee to represent the seller within the same transaction. Each designated agent acts as a single agent for their respective client, avoiding full dual agency.
Related Iowa Agency Questions
- Iowa's seller disclosure law requires a seller to complete which document before listing a residential property?
- Iowa law requires that the agency disclosure form used at first substantive contact must be:
- An Iowa buyer's agent who fails to present an offer that was not in writing to the seller:
- An Iowa licensee who represents a seller but deals honestly and fairly with an unrepresented buyer is acting as:
- Iowa law requires that a listing agreement include which of the following provisions?
- Iowa's agency disclosure form must be provided to all consumers. Who has the responsibility to provide this disclosure?
- In Iowa, a buyer's agent owes which of the following duties to their buyer-client?
- A buyer's agent in Iowa who discovers a material defect in the property during a showing must:
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