Section 4: Intro to CA Agency Law

Question 1

Agent

Answer 1

one who acts on behalf of another in a business transaction

Question 2

Sub-agent

Answer 2

works under another agent with the principal’s permission to perform some of the acts of agency. (Agents are also sub-agents of their broker)

Question 3

Dual agent

Answer 3

agent that represents both the buyer and seller in the same transaction

Question 4

Finder

Answer 4

Introduces the buyer and seller; does NOT represent either party

Question 5

Single agent

Answer 5

agent that represents only one party

Question 6

Seller’s agent

Answer 6

agent that is engaged by a seller to represent the seller’s interests; also called a listing agent

Question 7

Buyer’s agent

Answer 7

agent who is engaged by a buyer to represent the buyer’s interests

Question 8

Broker’s agent

Answer 8

agent who represents the broker from another firm; this agent does NOT represent the principal– ONLY the broker

Question 9

Landlord’s agent

Answer 9

agent who assists a landlord in finding a tenant

Question 10

Tenant’s agent

Answer 10

agent who assists someone in finding a property to lease or rent

Question 11

Property manager

Answer 11

agent who acts within the scope of the property management agreement on behalf of the landlord