Which agency models are recognized in NY real estate practice?

• A. Exclusive right-to-represent agency, and non-exclusive agency
• B. Single agency and dual agency with written informed consent; designated agency within the same brokerage
• C. Dual agency without consent; facilitating agency
• D. Subagency and buyer agency only

Answer: (B)

In New York, how a licensee represents clients is about who they owe loyalty to and when consent is needed to handle more than one party. The recognized models are single agency (the licensee represents only one client in the transaction) and dual agency with written informed consent (the same licensee represents both buyer and seller, but only after full disclosure and written agreement). When two clients are served by the same brokerage, designated agency is used: different licensees within the same firm represent each party, while the broker remains neutral in the transaction and confidentiality is preserved for both clients. These arrangements cover the ways agency is practiced in NY real estate. The other options mix concepts that aren’t recognized or allowed in NY practice, such as dual agency without consent or outdated or nonstandard forms like subagency or non-exclusive agency.