Tennessee Agency: Facilitators and Designated Agents
Tennessee defines specific agency roles and permits designated agency within a firm. This chapter reviews the facilitator role, designated agency, and required disclosures.
Agents and Facilitators
A Tennessee licensee may act as an agent, owing fiduciary-type duties to a client, or as a facilitator (transaction broker) who assists parties without representing either. A facilitator does not advocate for a side but must still be honest and disclose adverse facts a licensee is required to disclose.
Designated Agency
Tennessee permits designated agency: within one firm the principal broker may designate one affiliate to represent the buyer and another to represent the seller. This lets each client receive individual representation instead of the firm serving as a dual agent for both sides.
Agency Disclosure and Confidentiality
Tennessee licensees must disclose their agency status so consumers understand whom they represent. Agents owe clients confidentiality that continues after the transaction, while all licensees owe honesty and disclosure of adverse facts to every party, whether client or customer.