Agency
What is a 'designated agency' arrangement in Montana real estate?
AWhen the state designates which broker must handle a transaction
BWhen a broker designates different agents within the same firm to represent buyer and seller separately✓ Correct
CWhen two firms agree to share a listing
DWhen a broker designates a transaction coordinator as their agent
Explanation
Designated agency occurs when a broker assigns different licensees within the same firm to exclusively represent the buyer and the seller in the same transaction, allowing each party to receive undivided loyalty.
Related Montana Agency Questions
- In Montana, if a buyer's agent writes an offer for their client on a property listed by the same brokerage firm, and the firm chooses to practice dual agency, both parties must provide:
- A Montana transaction broker (limited agent) owes which duties to both parties?
- In Montana, the term 'special agent' in real estate describes an agent who:
- Under Montana agency law, the duty of 'obedience' requires an agent to:
- A Montana buyer's agent who learns that their buyer client will pay up to $350,000 for a property listed at $320,000 must:
- A Montana listing agent may share which of the following information about the seller with a potential buyer?
- In Montana, a real estate broker who owns a property management company and manages properties they list for sale must disclose this to potential buyers because:
- In Montana, designated agency allows:
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