Tennessee Real Estate Affiliate Broker Exam — All Questions
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Under Tennessee law, a licensee who does not represent either party but assists them in completing a transaction acts as a:
- a.Designated agent
- b.Facilitator (transaction broker)✓
- c.Dual agent
- d.Subagent
Tennessee recognizes the 'facilitator,' sometimes called a transaction broker, who assists parties in a transaction without representing either as an agent. A facilitator does not owe the full fiduciary duties of an agent but must still be honest and disclose known adverse facts.
When two different affiliate brokers in the same Tennessee firm represent the buyer and the seller in one transaction, the firm may appoint them as:
- a.Dual agents for both parties
- b.Designated agents, each representing one party✓
- c.Facilitators for the whole firm
- d.Subagents of the buyer
Tennessee allows designated agency: the principal broker may designate different affiliate brokers within the firm to represent the buyer and the seller separately, so each client still receives individual representation rather than the firm acting as a dual agent.