Chapter 4
Understanding Agency Law
IN THIS CHAPTER
Choosing and establishing an agency relationship
Looking at the duties of an agent to a principal and a customer
Finding out who pays an agent and when
Discovering how to end an agency relationship
My guess is that the kind of agent you’re most familiar with is the Hollywood agent. And that’s as good a place as any to start talking about what the word agent means. Before and after the big parties and movie premieres, what does an agent do? An agent represents a client, and that means that agent always works for the client’s best interest in any deal that the agent negotiates on behalf of the client. The agent tries to get the client the best role in the movie for the most money or may try to get the client a bigger dressing room at the studio.
Real estate agents are no different. They represent their clients and always work in their best interests. Except that the work isn’t about better movie roles and bigger dressing rooms. It’s probably about a better price for a house or a faster sale. Regardless of whether they’re located in ...
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