Agency
In Virginia, designated agency means:
AThe broker personally represents all clients
BDifferent agents within the same brokerage are designated to represent the buyer and seller separately✓ Correct
CAn out-of-state agent is designated to handle a transaction
DThe seller designates the buyer's agent
Explanation
Designated agency allows a broker to designate one agent within the brokerage to represent the seller and a different agent to represent the buyer, so each client receives undivided loyalty.
Related Virginia Agency Questions
- In Virginia, a listing agent who represents the seller must respond to a buyer's direct inquiry about why the seller is moving by:
- In Virginia, a real estate licensee must provide the 'Working With Real Estate Agents' disclosure:
- Under Virginia law, a 'designated agent' is a licensee who:
- Under Virginia's brokerage relationship disclosure law, a licensee who has not yet entered an agency relationship with a buyer must treat the buyer as:
- In Virginia, a subagent is a licensee who:
- In Virginia, a buyer's broker agreement that is exclusive means:
- A Virginia listing agent who is also a member of the MLS shares information about a listed property with cooperating brokers. This is an example of:
- A Virginia seller's agent who learns that the seller has committed fraud in a prior transaction involving the property must:
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