General Principles of Agency 11% Flashcards
1
Q
Agency def?
A
Created solely through the agency agreement- not through compensation
2
Q
Agency coupled with interest?
A
the agent has some form of ownership, security, interest in, or possession of the principals property
3
Q
Special agent example
A
Escrow officer
4
Q
General agent example
A
Conversator
5
Q
Define sub agency
A
When a licensee brings an unrepresented buyer to a transaction.
6
Q
Exclusive agency def
A
allows sellers who find the buyer avoid paying a listing agent commission
7
Q
Exclusive right to sell/represent?
A
Highest form of representation
