Agency
A Pennsylvania designated agency arrangement is most appropriate when:
AA broker wants to serve both buyer and seller in any capacity
BBoth buyer and seller are represented within the same brokerage by different designated agents✓ Correct
CA single licensee represents both buyer and seller
DA buyer hires the seller's agent without the seller's knowledge
Explanation
Designated agency resolves the conflict in dual agency by designating separate licensees within the same brokerage to represent each party. The buyer's designated agent provides full fiduciary representation to the buyer; the seller's designated agent provides full representation to the seller.
Related Pennsylvania Agency Questions
- A Pennsylvania listing agent who prepares a Competitive Market Analysis (CMA) for a potential seller client should advise the seller that the CMA is:
- A Pennsylvania licensee who receives compensation from more than one party to a transaction must:
- In Pennsylvania, what is a 'co-broke' (cooperating broker) arrangement and how is compensation structured?
- What is the 'duty of accounting' owed by a Pennsylvania real estate agent to their principal?
- A transaction licensee in Pennsylvania:
- A Pennsylvania buyer's agent discovers a material defect in the home their buyer client wants to purchase. What must the agent do?
- When does a Pennsylvania buyer's agency agreement typically terminate?
- A seller instructs their listing agent not to disclose that the basement floods during heavy rain. What should the Pennsylvania licensee do?
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