Agency
In an Oklahoma designated agency arrangement, the broker:
APersonally represents both buyer and seller
BDesignates different licensees from the same firm to represent the buyer and seller respectively✓ Correct
CRefers one party to another brokerage firm
DActs as a neutral facilitator with no agency duties
Explanation
In designated agency, the principal broker designates one licensee in the firm to represent the buyer and a different licensee to represent the seller. This allows each party to have full representation while the broker oversees both sides.
Related Oklahoma Agency Questions
- In Oklahoma, when a licensee serves as both the listing agent for the seller and the agent for the buyer in the same transaction without proper disclosure or consent, this is:
- A single broker represents both the buyer and seller in the same transaction in Oklahoma. This is known as:
- Ostensible agency (apparent authority) arises when:
- When a principal broker dies, what happens to the listing agreements held by the brokerage?
- Under Oklahoma law, when a licensee represents a buyer in a new construction transaction, the licensee should advise the buyer to:
- An Oklahoma seller refuses to accept a full-price offer because the buyer is of a different religion. The seller's listing agent should:
- When an Oklahoma listing agent holds an open house, unrepresented visitors who inquire about purchasing the property should be:
- In Oklahoma, when an agent represents the seller, the agent should NOT:
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