Agency
In Massachusetts, 'express authority' in an agency relationship is authority that is:
AImplied from industry customs
BExplicitly stated in the listing agreement or buyer agency agreement✓ Correct
CCreated by the agent's apparent conduct
DGranted by courts in emergencies
Explanation
Express authority is authority explicitly granted by the principal in writing (such as in a listing agreement or buyer agency agreement). It specifies what the agent is authorized to do on the principal's behalf.
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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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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.
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