Agency
In Michigan, a real estate agent's authority under a listing agreement is typically:
AGeneral agency (broad authority to act for the seller in all matters)
BSpecial (limited) agency (authority limited to finding a buyer and facilitating the transaction)✓ Correct
CUniversal agency (authority to act in all legal matters for the seller)
DNo agency; agents are always independent contractors
Explanation
A real estate agent under a typical listing agreement is a special (limited) agent: their authority is limited to specific activities defined in the listing agreement (marketing, showing, procuring a buyer) and they do not have general authority to bind the seller in other matters.
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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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