Agency
In Tennessee, a 'designated agency' arrangement means:
AThe brokerage represents both buyer and seller simultaneously
BThe principal broker designates one licensee to represent the buyer and another to represent the seller within the same firm✓ Correct
CThe agent is designated by the court to handle a real estate transaction
DTREC has designated the brokerage as the lead agency in a multi-offer transaction
Explanation
Designated agency in Tennessee allows a principal broker to appoint one licensee in the firm to represent the seller exclusively and another to represent the buyer exclusively, even within the same transaction, to avoid true dual agency.
Related Tennessee Agency Questions
- In Tennessee, when a buyer's agent represents a buyer in a property that the agent also lists, they are in:
- A Tennessee broker who fails to present an offer because they personally believe it is too low is:
- In Tennessee, a licensee who receives a gift from a vendor in connection with a real estate transaction must:
- Under Tennessee license law, which conduct would constitute 'commingling'?
- In Tennessee, the agency disclosure form must be provided to a prospective buyer or seller:
- In Tennessee, a buyer's agent who represents the buyer during a transaction owes ALL of the following duties EXCEPT:
- The Tennessee Real Estate Commission's regulations on advertising require that a licensee who uses social media for real estate advertising must:
- A seller's agent must present all offers to the seller UNLESS:
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