Colorado Practice Test for PSI exam questions and 100%correct answers

The brokerage firm owns the listing contract and has designated a broker to represent the seller. In this case, the designated broker: A. performs the services and represents the seller. B. is an employing broker, both represent the seller. C. is not supervised by the employing broker. D. will be an agent of the buyer. - correct answer performs the services and represents the seller. Only a designated broker has an agency relationship with the seller- the designated agency relationship does not extend to the employing broker unless the employing broker is also designated. Designated agents can only represent a client as a single agent or transaction agent. The employing broker is still obligated to supervise the designated broker, but the designated broker isn't allowed to share any knowledge with an employing broker who isn't also designated to that client. If a broker wishes to be the only broker involved in a transaction, thereby "double ending" this sale, she may A. represent both parties as a transaction broker. B. treat both parties as customers. C. represent one party as an agent and the other as a transaction broker.