General Principals of Agency 4 Flashcards
1
Q
When a Broker or a Salesperson is hired by a client is creates what type of agency?
A
Special Agency
2
Q
When acting on behalf of a buyer, Agency is created with a?
A
Buyer Brokerage Agreement
3
Q
When acting on behalf of a seller what creates anagency?
A
Listing Agreement
4
Q
Agency, when acting for either party, can be created and confirmed in a
A
Purchase Agreement
5
Q
What is a Confirmation Of Agency?
A
When acting for either party, can be created and confirmed in a Purchase Agreement; provided there is an area within the contract that states the buyer’s agent and broker and the seller’s agent and broker.
6
Q
Transactional Agency
A
Other states only acknowledge transactional agency.
