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Texas Real Estate

Agency

QuestionAnswer
A properly licensed party who serves a principal in an agency relationship. Also called an agency. Broker
The fidicuary relationship between a broker and a principal or broker and a client Agency
A party acting for another in a position of trust-a broker, an agent Fidicuary
The relationship based on trust- the relationship governed by the law of agency between a broker and a principal Fidicuary Relationship
A party represented by a broker in an agency relationship- also called a client Principal
A party represented by a broker in an agency relationship-also called a principal Client
A third party- one a broker is working with, but who is not represented by that broker Customer
An emplyoyment contract obligating broker to act as a fiduciary to a buyer Buyer Representation Agreement
An employment contract obligating a broker to act as a fiduciary to a seller Listing Ageement
An employment contract obligating a broker to act as a fidicuary to a property owner Management agreement
Created by: Shirilyn
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