Agency
What is a 'designated agency' arrangement in South Carolina?
AThe broker represents both parties personally
BTwo different licensees in the same firm each represent one party✓ Correct
CA referral arrangement between two brokerages
DThe seller designates the listing agent
Explanation
Designated agency allows a brokerage to assign one licensee to represent the buyer and another licensee (from the same firm) to represent the seller, avoiding full dual agency conflicts.
Related South Carolina Agency Questions
- In South Carolina, which fiduciary duty requires a licensee to put the client's interests above their own?
- In South Carolina, a licensee who acts as a buyer's agent and receives compensation from the listing broker via the MLS cooperative compensation:
- Under South Carolina agency law, a seller's agent owes which duty to an unrepresented buyer?
- In South Carolina, what is a 'safety clause' (also called 'protection clause') in a listing agreement?
- A South Carolina buyer's agent who also represents the seller in the same transaction must:
- Which duty requires a South Carolina agent to use their professional skills to benefit the client?
- In South Carolina, what is 'ratification' in agency law?
- In South Carolina, which of the following best describes a 'buyer's agent'?
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