Agency
In Tennessee, 'designated agency' allows a brokerage to:
ARepresent no parties in a transaction
BAssign different agents within the firm to represent each party exclusively✓ Correct
CHave one agent represent both parties simultaneously
DOperate without a written agency agreement
Explanation
Designated agency allows a brokerage to assign specific agents within the firm to represent the buyer and seller separately, reducing potential conflicts of interest inherent in dual agency.
Related Tennessee Agency Questions
- Tennessee's agency laws require all licensees to avoid 'self-dealing.' Self-dealing means:
- In Tennessee, an agent who acts beyond the scope of authority granted in the agency agreement is acting as a(n):
- In Tennessee, a broker who acts as an agent for both the buyer and the seller in the same transaction without disclosure and consent is engaging in:
- In Tennessee, a 'seller's agent' may ethically share which of the following information about the seller with the buyer?
- In Tennessee, a 'safety protection clause' (broker protection clause) in a listing agreement protects the broker by:
- A Tennessee broker who fails to present an offer because they personally believe it is too low is:
- A Tennessee broker who represents neither party in a transaction but assists both in completing the transaction is known as a:
- In Tennessee, a buyer's agency agreement typically provides that the buyer's agent receives compensation:
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