Agency
Under Tennessee license law, which conduct would constitute 'commingling'?
ARepresenting both buyer and seller in the same transaction
BDepositing a buyer's earnest money into the brokerage's general operating account✓ Correct
CUsing a joint trust account for multiple clients
DCombining personal and professional contacts in one database
Explanation
Commingling is specifically the mixing of client trust funds (earnest money, rent, etc.) with the brokerage's operating funds. Depositing client money into the operating account rather than a separate trust account is a textbook example of commingling.
Related Tennessee Agency Questions
- In Tennessee, a buyer's representation agreement creates a:
- In a Tennessee transaction where one licensee in a firm represents the buyer and another represents the seller, this is called:
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- A Tennessee affiliate broker is working with a buyer but has no buyer representation agreement. The broker is most likely acting as:
- The Knoxville Association of REALTORS® Code of Ethics is:
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