Agency
Designated agency
A broker appoints different licensees in the firm to represent each side
One licensee is designated for the buyer and another for the seller, each owing full fiduciary duties to their own client, while the broker supervises both. It is the structure many states adopted as an alternative to firm-wide dual agency.
How the exam asks about it
The point is that the fiduciary duties survive intact at the individual level, which is exactly what dual agency cannot deliver.
Related terms
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