Agency
Wisconsin's 'designated agency' allows a broker to:
ARepresent both buyer and seller without disclosure
BDesignate separate agents within the same firm to represent each party✓ Correct
CAct as a dual agent without written consent
DAssign unlicensed assistants to represent clients
Explanation
Designated agency in Wisconsin permits a broker to designate one agent within the firm to represent the seller and a different agent to represent the buyer, reducing conflict of interest.
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Key Terms to Know
Agency
A 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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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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