Two designated agents, Mitch and Mickey, represent the buyer and seller in a single transaction, respectively. What else do you know about the agency situation?

In this scenario, it is established that Mitch and Mickey are designated agents representing the buyer and seller in a single transaction. When they are from the same brokerage, it indicates that the brokerage has a specific setup where designated agents can represent competing interests—namely the buyer and seller—without a direct conflict of interest.

In Indiana, if both agents are from the same brokerage, the brokerage itself is providing dual agency. The broker may assign designated agents to represent each party to ensure that the interests of both the buyer and seller are effectively managed, while still adhering to the relationship and obligations of agency law. This setup allows the firm to ethically represent both sides in the transaction while disclosing the dual agency relationship to all parties involved, ensuring transparency.

This understanding is essential for maintaining compliance with real estate laws and ensuring fair treatment in the transaction. Therefore, the option stating that Mitch and Mickey are from the same brokerage, with their broker acting as a dual agent, accurately reflects the legal and practical framework of agency representation in real estate transactions.