Types of Agents Flashcards
Distinguish Types of Agents
1
Q
UNIVERSAL AGENT
A
Act as Principal via Power of Attorney
2
Q
SPECIAL AGENT
A
Hired for a specific service; limited authority/BIC is usually special agent
3
Q
GENERAL AGENT
A
Hired for continous service. General Agent/Subagent of a Special Agent
4
Q
SUBAGENT
A
Agent of an Agent
5
Q
DUAL AGENT
A
A Broker Firm representing both the seller & buyer in the same transaction
6
Q
DISCLOSED DUAL AGREEMENT MUST:
A
Be signed by the Buyer before writing the offer and the Seller before accepting the offer
