Designated licensee to represent seller in transaction

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Reference no: EM132268688

A managing broker appoints a designated licensee to represent a seller in a transaction. If this licensee only represents the seller, which of the following is true?

The managing broker remains liable as a dual agent.

The designated agent does not have an agency relationship with the seller as a designated agent.

Another licensee in the firm may not represent a buyer to the same transaction.

The broker is relieved of liability as a dual agent if another of his licensees represents the buyer.

A licensee who assists one or more parties to a transaction without entering into a signed agency agreement is called a designated agent.

facilitator.

sub-agent.

managing broker.

In a designated agency transaction, if the seller's agent acquires confidential information from the seller, it is assumed under TN law that the managing broker is aware of such information.

buyer agents in the firm are aware of the confidential information.

both managing broker and her licensees are aware of the confidentiality.

neither managing broker nor other licensees in the firm are aware of the confidentiality.

Reference no: EM132268688

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