special agent
one who is hired to act for another, with limited authority, on a single transaction.
general agent
one who is authorized by a
... [Show More] principal to represent the principal in a specific range of matters associated with the continued operation of a particular job ("continuity of service" being key - like a property manager), broader authority.
universal agent
a person empowered to do anything the principal could do personally (general power of attorney.)
subagent
one who is employed by a person already acting as an agent (an agent working for an agent- such as your broker). Typically a reference to a salesperson licensed under a broker who is employed under the terms of an "employment agreement."
nonagent
an intermediary between a buyer and seller, or landlord and tenant, who assists both parties with a transaction without representing either. (Also known as a "transaction broker".)
dual agent
representing both parties to a transaction. This is unethical and illegal if "undisclosed" - both parties must agree to it. If "informed consent" is given by both sides, then it is legal and called a "disclosed dual agency."
buyer's agent
agent who represents the prospective purchaser in the transaction (buyer is now the principal/client.)
designated agent
a licensee authorized by the broker to act as an agent for a specific principal in a particular transaction. (May occur if a buyer or seller's agent cannot get permission to be a disclosed dual agent. The broker will assign one agent to the exclusion of the other agents, with no dual agency being created with the others.)
implied agency
an actual agency that arises through deduction or inference from facts and circumstances, including words and conduct (see "ostensible agency").
ostensible agency
an agency relationship that arises by the ACTIONS of the parties rather than by express agreement. It is an implied or presumptive agency where you have intentionally or carelessly induced another to believe that a 3rd person is his agent even though he never employed him. For example: a broker starts showing a "F.S.B.O." (For Sale By Owner)'s property to buyers without the owner's consent. If the owner does not stop the unauthorized showings, he could be liable for the actions of the "owner's broker". This situation is called an "ostensible" agency because, on the face of it, it looks as if an agency exists. Once this agency is created, the owner can't deny its existence (he is "estopped": an "estoppel" creates an inability to assert a right or defense) and can't deny it later (see "estoppel agency" and "implied agency").
transaction broker
included in the C.I.S. as one of the available business relationships. It does not create an agency relationship because there will be no principal, only customers. A manager of the transaction, an intermediary between a buyer and a seller (see "nonagent").
listor
also spelled "lister". The agent who obtained the listing, named as the listing agent in the m.l.s.(mulitiple listing service) agreement with seller/client. But, technically, the listing agreement is really between the broker and the seller (as the listing agent goes out as a representative of the broker and negotiated how the broker will be paid. The agent will be paid according to his/her employment agreement.)
lister
another way to spell "listor"
agency coupled with an interest
agency relationship in which the agent has an estate or interest in the subject of the agency (the property.)
agency
the relationship between a principal (also called "client") and an agent wherein the agent is authorized to represent the principal in certain transactions.
express agency vs. implied agency
written words vs. actions ( actions can be misunderstood) [Show Less]