Tennessee Agency Model Quick Reference

📋 The 1-minute cheat sheet

• Tennessee uses an agency model centered on the Broker Act, including designated agency.
• A licensee may act as an agent (representing a client) or as a facilitator/transaction broker assisting parties without representation.
• Designated agency lets a broker assign different affiliated licensees to represent the buyer and the seller in the same transaction.
• Licensees owe statutory duties such as loyalty, obedience, disclosure, confidentiality, accounting, and reasonable care to clients.
• Even without an agency relationship, licensees owe all parties honesty, fairness, and disclosure of known adverse facts.
• Agency relationships and any disclosed dual/designated arrangements should be confirmed in writing.
• Tennessee also requires the Residential Property Condition Disclosure for most residential sales.