What is a secret agent in real estate?

Is a dual agent a good idea?

The bottom line is that dual agency is certainly a good thing for the agent but is typically a negative scenario for both the buyer and seller, as neither party is getting fair representation. This is an especially negative arrangement for inexperienced buyers and sellers who really need professional guidance.

What makes an agent special?

A special agent is an investigator or detective for a governmental or independent agency, who primarily serves in criminal investigatory positions. … In general, some agents are federal law enforcement officers and hold either arrest authority or the right to conduct minor criminal/non-criminal investigations.

What is special about a universal agent?

What is special about a universal agent? A universal agent has power of attorney. … A universal agent has power of attorney. The authority to act for another person in specified or all legal or financial matters.

What is the difference between a general agent and a universal agent?

An agent is authorized to act on behalf of another person. People hire agents to perform tasks that they lack the time or expertise to do for themselves. A universal agent has wide authority to act on another’s behalf, but a general agent or special agent has more limited and specific powers.

What is an example of a universal agent?

Briana can run his business and can even sign legal documents for him. In a sense, she will act like she is him for important business matters and make decisions that are binding upon him. She has agreed to be his universal agent, and she is the only person with so much power in his business.

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What is agency law in real estate?

The law of agency in a real estate transaction defines the legal relationship between real estate professionals and their clients. Each state has its own agency laws that set forth the duties that real estate professionals owe to their clients and what disclosures need to be made to the clients.

Which is true of a single agent?

A single agent is defined as a broker who represents, as a fiduciary, the buyer or the seller but NOT both in the same transaction. The statement is true. A single agent is a broker who represents, as a fiduciary, the buyer or the seller but not both in the same transaction.