Agency
When a listing broker assigns two different agents within the same office to separately represent a buyer and a seller, this is known as:
ADual agency
BSub-agency
CDesignated agency✓ Correct
DNon-exclusive agency
Explanation
Designated agency occurs when a broker assigns specific agents within the same brokerage to separately represent the buyer and the seller, allowing each party to have individual representation.
Related South Dakota Agency Questions
- A South Dakota broker representing both the buyer and seller in the same transaction without proper disclosure is:
- In South Dakota, the seller instructs the listing agent to tell buyers that the property has no foundation issues, but the agent knows this to be false. The agent should:
- 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:
- A South Dakota buyer's agent who receives a bonus from the seller for closing the transaction must:
- In South Dakota, a real estate agent must present all offers to the seller regardless of form. However, the agent may decline to present a written offer that is:
- In South Dakota, a buyer who is concerned about an agent's loyalties in a real estate transaction can best protect themselves by:
- A South Dakota buyer's agent discovers that the seller's property has an undisclosed drainage problem. The buyer's agent should:
- In South Dakota, the termination of an agency relationship between a seller and listing broker can occur by:
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