Dual & Designated Agency

Question 1

Dual agency

Answer 1

• Must obtain written consent from both parties. prior to offer.
• MUST disclose material fact to both parties.

Question 2

Designated dual agency

Answer 2

• occurs when the firm represents both parties
• BIC designates broker for the buyer and broker for the seller.
• designated broker cannot be provisional and the supervisor.
• Brokers cannot share confidential info