Agency
In Wisconsin, a 'designated agency' arrangement means:
AThe broker represents both buyer and seller equally
BDifferent salespeople within the same firm are designated to represent the buyer and seller exclusively✓ Correct
CThe broker assigns one agent to all buyers in a market area
DThe seller designates the buyer's broker to handle both sides
Explanation
Wisconsin permits designated agency, in which the employing broker assigns one licensee as the buyer's exclusive agent and another as the seller's exclusive agent within the same transaction, allowing full representation on both sides.
Related Wisconsin Agency Questions
- A Wisconsin buyer's agent who negotiates a purchase price $15,000 below the listing price has:
- What duty does a Wisconsin licensee owe to ALL parties, whether client or customer?
- A Wisconsin licensee who represents neither the buyer nor seller but assists both in completing the transaction is acting as a:
- A Wisconsin buyer's agent owes their client 'reasonable care.' This means the agent must:
- A Wisconsin seller's listing agreement automatically terminates if the property:
- The Wisconsin 'Disclosure to Customers' form is used when a licensee works with a party as a:
- In a Wisconsin transaction where the buyer's agent shows a property listed by a different broker in the same firm, and no designated agency agreement is in place, this situation creates:
- Which Wisconsin form is used to establish a buyer agency relationship?
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