Agency
Washington allows a brokerage to appoint one broker to represent the seller and a different broker to represent the buyer within the same transaction. This arrangement is called:
ADual agency
BDesignated agency✓ Correct
CSubagency
DTransaction brokerage
Explanation
Washington permits designated agency, where the brokerage (technically in dual agency) appoints one affiliated broker to represent the seller and a different affiliated broker to represent the buyer, allowing each client to receive undivided representation.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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