What term describes a real estate professional authorized by a broker to represent a specific principal in a transaction?

What term describes a real estate professional authorized by a broker to represent a specific principal in a transaction?

• A. Designated agent
• B. Broker associate
• C. Listing agent
• D. Transaction coordinator

Answer: (A)

The term that describes a real estate professional authorized by a broker to represent a specific principal in a transaction is "designated agent." This designation arises when a broker assigns a specific agent within their brokerage to represent the interests of a client, ensuring that the agent not only has the authority to act on behalf of that client but also maintains a fiduciary duty to them. This can help streamline the process and clarify responsibilities in real estate transactions, as the designated agent focuses solely on that particular client's needs. In contrast, a broker associate typically refers to a licensed real estate broker who works under the supervision of a managing broker but may not have the same level of representation for a specific client. A listing agent is someone who represents the seller in the sale of a property, but may not necessarily be a designated agent who has specific assignment from the broker for that transaction. Lastly, a transaction coordinator is generally responsible for managing the paperwork and logistics of a transaction rather than representing a client. This distinction highlights the role of the designated agent in ensuring a clear and direct representation of a client's interests in a real estate transaction.

The term that describes a real estate professional authorized by a broker to represent a specific principal in a transaction is "designated agent." This designation arises when a broker assigns a specific agent within their brokerage to represent the interests of a client, ensuring that the agent not only has the authority to act on behalf of that client but also maintains a fiduciary duty to them. This can help streamline the process and clarify responsibilities in real estate transactions, as the designated agent focuses solely on that particular client's needs.

In contrast, a broker associate typically refers to a licensed real estate broker who works under the supervision of a managing broker but may not have the same level of representation for a specific client. A listing agent is someone who represents the seller in the sale of a property, but may not necessarily be a designated agent who has specific assignment from the broker for that transaction. Lastly, a transaction coordinator is generally responsible for managing the paperwork and logistics of a transaction rather than representing a client. This distinction highlights the role of the designated agent in ensuring a clear and direct representation of a client's interests in a real estate transaction.