Agency
What is 'portfolio agency' in Pennsylvania real estate (also called designated agency by a team)?
AAn agency where a single agent manages all of a client's real estate investments
BA PREC-designated arrangement where team leaders act as quasi-brokers designating team members to represent specific clients
CAn informal arrangement where teams designate members to represent specific clients within the team; PREC considers the broker the dual agent if both buyer and seller are represented within the same brokerage✓ Correct
DA commercial agency managing real estate investment portfolios for institutional clients
Explanation
When a buyer and seller are both represented by agents within the same Pennsylvania brokerage (even on the same team), the broker is technically in a dual agency position. Teams may informally designate members to represent each party, but PREC's position is that the broker remains the dual agent.
Related Pennsylvania Agency Questions
- The termination of an agency relationship in Pennsylvania can occur by:
- A Pennsylvania buyer's agent owes the buyer the duty of confidentiality. This means the agent:
- A Pennsylvania listing broker's duty to disclose material facts extends to:
- A Pennsylvania buyer's representative agreement that is 'exclusive' means:
- The fiduciary duty of 'loyalty' in a buyer agency relationship requires the agent to:
- A Pennsylvania seller's agent who discovers that their listed property has an undisclosed material defect must:
- In Pennsylvania, which party pays the real estate commission is determined by:
- In Pennsylvania, a 'Consumer Notice' is best described as:
Practice More Pennsylvania Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Pennsylvania Quiz →