Published On Premiered Oct 12, 2020
Today we are going to talk about the basic principles of an agency relationship.
An agent is a person who has been legally empowered to act on behalf of another person or entity. This is not the same as having power of attorney, where one person has the power to act as another person for that one act.
Real estate licensees often act on someone else’s behalf in real estate transactions. They are an agent acting on behalf of a “client” or “principal”, so it’s important to understand the Law of Agency that defines the rights, duties, and responsibilities of all legal parties.
Subscribe to our channel to get notified of new videos!
Serious about passing your real estate exam? Sign up with PrepAgent to get more videos, thousands of interactive exam questions with explanations, 5x a week live webinars, and so much more! Use this link to get 25% off:
https://www.prepagent.com/sign-up?cod...
Follow us on social media:
/ joejuter
/ prep_agent
Join our free private Facebook group to get help from others taking the exam:
/ prepagent