Real estate brokers operate under the law of agency,which gives a broker the right to act for a principal in trying to buy or sell a property.Which of the following types of agents is authorized by the principal to act primarily within the confines of a business or employment relationship?

Question

Quizplus · Accepted Answer

A general agent is authorized by the principal to act primarily within the confines of a specific business or employment relationship. A universal agent has authority to act on behalf of the principal in all matters, while a special agent is authorized to perform a specific task or act within a limited scope of authority. A listing agent is a type of special agent who is authorized to market and advertise the principal's property for sale.

Real Estate Brokers Operate Under the Law of Agency,which Gives