Agency
Designated agency in Maryland means:
ATwo agents from the same firm each exclusively representing one party in the same transaction✓ Correct
BA broker personally handles all aspects of a transaction
CAn agent is appointed by MREC to represent an unrepresented party
DAn out-of-state agent is designated to cooperate on a Maryland transaction
Explanation
Designated agency allows a broker to assign different agents within the same firm to exclusively represent the buyer and seller, avoiding true dual agency.
Related Maryland Agency Questions
- A Maryland licensee representing a buyer has a duty to:
- When a Maryland listing expires and is relisted with a new broker, the seller's confidential information shared with the first broker:
- In Maryland, an agent's duty to promptly present offers to the seller means:
- In Maryland, if a licensee acts as a dual agent without obtaining written consent from both parties, they have:
- In Maryland, an implied agency may be created when:
- A Maryland seller's agent discovers a structural defect during a showing that the seller has not disclosed. The agent must:
- A Maryland seller instructs their agent to not disclose that the neighbor has an ongoing dispute about the fence line. The agent should:
- In Maryland, a licensee acting as a seller's sub-agent owes fiduciary duties to:
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