Agency
When a North Carolina broker practices designated dual agency, the broker-in-charge:
AMust personally represent both parties
BDesignates separate brokers within the firm to represent each party✓ Correct
CWithdraws from the transaction entirely
DRepresents neither party and acts as a neutral facilitator
Explanation
In designated dual agency, the BIC assigns different brokers within the same firm to represent each party, allowing each client to receive more focused representation.
Related North Carolina Agency Questions
- Ratification of an unauthorized agent act in North Carolina occurs when:
- A NC buyer's agent who negotiates the purchase price of a property directly benefits from which fiduciary duty being properly exercised?
- Under North Carolina rule, when must a buyer's agency agreement be in writing?
- Under NC law, a broker who is the agent of the seller must disclose to all potential buyers:
- A buyer's agent who learns their client's maximum budget is $400,000 but the buyer told the seller they are limited to $350,000 must:
- In North Carolina, a seller's agent owes which of the following duties to an unrepresented buyer?
- A broker's duty of 'reasonable care and diligence' in North Carolina means:
- A NC buyer's agent who purchases a property for themselves that their client had expressed interest in has violated:
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