Designated agency can be practiced between which parties?

Designated agency is a specific arrangement within real estate where a broker assigns different agents to represent clients in the same transaction, effectively allowing for individualized representation while still functioning under the same brokerage. In this context, the broker-in-charge has the authority to designate and assign provisional brokers to specific clients. This allows for the benefits of personalized service and attention to client needs, while still adhering to the legal requirements of agency relationships.

The relationship established between the broker-in-charge and a provisional broker is crucial because it empowers the provisional broker to act in the best interest of a client under the legal umbrella provided by the broker-in-charge. This relationship is pivotal in ensuring that clients receive specialized and focused representation during a transaction.

In contrast, the other potential arrangements presented do not accurately reflect the designation of agency. For instance, the relationship between two firms would involve more of a cooperation or referral setup rather than a designated agency. Similarly, while all agents in the state are subject to the same legal framework, they do not operate under designated agency principles unless specifically appointed by a broker. The pairing of a broker-in-charge with a buyer, while pertinent to traditional agency relationships, does not encapsulate the assigned representation that designated agency refers to within the firm. Therefore, the only correct