Nevada License Law
What are 'designated agent' responsibilities under Nevada agency law?
AA designated agent in Nevada has no duties beyond what a subagent has
BA designated agent is an individual licensee authorized by the broker to represent a specific client — the designated agent owes full fiduciary duties to their designated client while other agents in the brokerage may represent the other party✓ Correct
CDesignated agents in Nevada represent neither buyer nor seller
DOnly brokers can be designated agents in Nevada
Explanation
In Nevada's designated agency model, the broker designates specific agents to represent specific clients. The designated buyer's agent owes full fiduciary duties exclusively to their buyer client.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
State-Specific Concepts
License Law
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