Idaho Real Estate Practice Exam

What role does a broker play in a Limited Dual agency with Assigned Agents scenario?

1. The broker must represent both clients equally

2. The broker cannot work with the buyer

3. The broker acts as a single agent

4. The broker manages all transactions

The correct answer is: The broker acts as a single agent

In a Limited Dual Agency with Assigned Agents scenario, the role of the broker is crucial in facilitating the relationships and transactions between the clients involved while maintaining ethical and legal standards. Choosing to act as a single agent in this context means that the broker serves as a neutral party rather than representing the interests of just one client against another. In this arrangement, the broker can assign specific agents to represent each party (the buyer and the seller) while the broker retains overall responsibility for the transaction. This setup allows the assigned agents to advocate for their respective clients while the broker manages the overall transaction process without favoring either side. The broker's position ensures transparency and compliance with state laws concerning dual agency, enabling the broker to oversee the transaction while respecting the interests of both parties. Focusing on this role promotes a balanced approach and adheres to the ethical obligations of real estate professionals, ensuring all parties are treated fairly and equitably within the confines of the law.