In a transaction where two agents from the same brokerage represent different parties, they are known as?

Prepare for the Massachusetts Real Estate Salesperson licensing exam. Utilize a variety of study modes, including flashcards and multiple-choice questions with comprehensive explanations. Achieve exam success!

In a real estate transaction where two agents from the same brokerage represent different parties, they are termed designated agents. This arrangement allows the brokerage to provide representation to both the buyer and the seller while maintaining the integrity of the agency relationship. Designated agency is meant to prevent conflicts of interest that may arise when one agent represents both sides in a transaction.

Under Massachusetts law, when a brokerage has designated agents, each agent has a fiduciary duty only to their respective client, ensuring that confidential information is kept separate. This means that both parties receive adequate representation and that their interests are advocated for without interference from the other party's interests.

Other terms such as facilitators or dual agents do not accurately describe this specific relationship. A facilitator typically does not represent either party and is more of a neutral party in the transaction. General agents often have broader authority to act on behalf of a principal in various transactions but do not specifically denote the dual representation scenario seen with designated agents. Dual agency occurs when a single agent represents both parties, which is different from the structure of designated agency where separate agents handle each side within the same brokerage.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy