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Agency Relationships

National · Agency & Fiduciary Duties — free study notes for the real estate licensing exam.

🤝 Agency & Fiduciary Duties

📖 What you need to know

An agent represents a principal (client) and owes them fiduciary duties. SELLER'S AGENT (listing agent) represents the seller; BUYER'S AGENT represents the buyer. A SUBAGENT works for the listing broker to help the seller. DUAL AGENCY (one agent both sides) is allowed only with informed written consent and limits what the agent can disclose; some states use a TRANSACTION BROKER (no fiduciary, just facilitates) instead. Always disclose who you represent — in writing, early.

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Related in Agency & Fiduciary Duties

Fiduciary Duties — OLD CARNational Creating & Ending AgencyNational Listing Agreements — Pick Your PoisonNational Dual & Designated AgencyNational Puffing vs Misrepresentation vs FraudNational Buyer Representation & Getting PaidNational Agency Relationships at a GlanceNational Universal, General & Special AgencyNational

Questions students ask

Is Agency Relationships on the real estate exam?

Yes. Agency & Fiduciary Duties is a scored domain on the real estate licensing exam, and this topic appears in the national portion.

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