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Rainmaker
1,498,708
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

It's what follows Central Intelligence.

Nov 30, 2016 02:32 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jeffrey Hillier Agency is the business relationship between a broker and the client where the broker is duly assigned to represent the client.

Nov 30, 2016 12:52 PM
Ambassador
5,204,760
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

What Michael Setunsky said!  And, I agree with Patricia Kennedy - you definitely need to learn this in school before you are face-to-face with your first customer/client!

Nov 30, 2016 03:23 PM
Ambassador
3,727,581
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

Agency is something you need to get very clear about before you start to represent clients.  Laws vary widely from one state to the next, and it's way to complex to address in a Q&A venue.  If they don't teach it right in the real estate school you attend, you will be a lawsuit waiting to happen.  

Nov 30, 2016 02:46 PM
Rainmaker
5,583,173
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I certainly could not say it better than Michael Setunsky 

Nov 30, 2016 02:27 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

ROFL - Ryan Huggins - Thousand Oaks, CA nailed this one!

Dec 01, 2016 03:58 AM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Michael Setunsky See his answer.

Nov 30, 2016 06:03 PM
Ambassador
6,357,805
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Very important to know when acting as an Agent

Dec 01, 2017 08:24 PM
Rainmaker
4,554,986
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

The laws in real estate vary by state.  A simple definition could be:  who represents who in a transaction.  

Study hard.  Take lots of practice tests.  

Dec 01, 2016 07:30 AM
Rainmaker
5,194,005
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Get a copy of an agency disclosure for your state and study it carefully!

Dec 01, 2016 06:49 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Others have answered.

Dec 01, 2016 04:28 AM
Rainmaker
5,096,466
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Fiduciary relationship between two parties in which one (the 'agent') is under the control of (is obligated to) the other (the 'principal') . The agent is authorized by the principal to perform certain acts, for and on behalf of the principal. The principal is bound by the acts of the agent, performed in carrying out entrusted duties and within the scope of agent's authority. An agency can be created by (1) express agreement, whether oral or written, (2) implication, based on the custom or practice of the trade, or (3) conduct of the principal.

 

Is this not covered in your text books?

Dec 01, 2016 03:59 AM
Rainmaker
1,712,551
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

It is common law.

Dec 01, 2016 03:47 AM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Jeffrey Hillier - the relationship between a licensee and a consumer.

Nov 30, 2016 11:37 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Agency is created by giving fiduciary duties to a client.

Nov 30, 2016 09:59 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

It depends on the context.

Nov 30, 2016 08:50 PM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

It's the relationship you have with a client. Most everyone knows about the doctor patient or attorney client relationship. Your relationship with your clients is like those relationships. 

Nov 30, 2016 07:12 PM
Ambassador
2,679,629
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

One person or entity acting on behalf of another person or entity.

Nov 30, 2016 06:40 PM
Rainmaker
7,794,202
Roy Kelley
Retired - Gaithersburg, MD

Study the requiements in your state.

Nov 30, 2016 03:39 PM