Agency
In South Dakota, 'designated agency' means:
AThe broker personally represents both buyer and seller
BThe broker designates different agents within the same firm to represent buyer and seller separately✓ Correct
CThe state designates a neutral agent for all transactions
DTwo brokers from different companies each represent one party
Explanation
Designated agency in South Dakota allows a broker to assign different licensees within the same brokerage to represent the buyer and seller separately, avoiding the conflicts of dual agency.
Related South Dakota Agency Questions
- In South Dakota, if a buyer's agent has a personal interest in a property the buyer is considering (such as the property belonging to a family member), the agent must:
- When does an agency relationship with a seller typically terminate in South Dakota?
- An agency coupled with an interest in South Dakota is unique because it:
- Puffing by a South Dakota real estate agent refers to:
- A South Dakota buyer's agent who fails to present a lower purchase offer to the seller because the agent believed the seller would reject it has:
- In South Dakota, an agent who helps a buyer negotiate a purchase and also refers the buyer to a specific mortgage lender without disclosing that they will receive a referral fee has violated their duty of:
- The duty of 'reasonable care and diligence' requires a South Dakota real estate agent to:
- South Dakota's disclosure of agency form (agency disclosure) should be provided to consumers:
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