Regarding the buyer-designated representation under the Trust in Real Estate Services Act (TRESA) 2023, what is a key requirement when a brokerage represents both the buyer and seller in the same transaction?

Question: Regarding the buyer-designated representation under the Trust in Real Estate Services Act (TRESA) 2023, what is a key requirement when a brokerage represents both the buyer and seller in the same transaction?

Answer options: ✅ The brokerage must obtain written consent from both the buyer and seller to proceed with designated representation.

• Designated representation is automatically assumed when a single brokerage represents both parties.
• Only the seller's consent is required for the brokerage to appoint designated representatives.
• The brokerage must decline to represent either the buyer or seller to avoid a conflict of interest.

Correct answer: The brokerage must obtain written consent from both the buyer and seller to proceed with designated representation.

Explanation: TRESA 2023 allows for designated representation in multiple representation situations, but it strictly requires that the brokerage obtain express written consent from both the buyer and the seller for this arrangement to be valid. This ensures both parties understand their designated representative and the brokerage's role.