Real Estate Brokerage Relationships Flashcards
1
Q
An agency relationship where the brokerage firm represents both the buyer and the seller (or landlord & tenant) in the same transaction
A
Dual agency
2
Q
An agent who is authority is expressly communicated, inwards or in writing, by the principal. Only written authority is enforceable in court
A
Expressed agent
3
Q
An agency relationship created through the behavior (actions or words) of one or both parties
A
Implied agency
4
Q
An agency relationship in which the brokerage represents only one party in a transaction
A
Single agency
5
Q
An agent of the employing broker who is acting as an agent for a principal, usually a seller. This person usually owes fiduciary duties to the principal
A
Subagent
