Agency
What term describes the Hawaii real estate agent who works under a principal broker and is authorized to associate with the broker's firm?
AA. Independent contractor
BB. Associate broker or salesperson✓ Correct
CC. Managing director
DD. Designated agent
Explanation
In Hawaii, an associate broker or salesperson is a licensee who is affiliated with (works under) a principal broker. They are authorized to perform real estate activities only under the supervision of their principal broker.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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