Agency
In Mississippi, the agency relationship created by a listing agreement is best described as:
AGeneral agency — the broker has broad authority to act on the seller's behalf in all matters
BSpecial agency — the broker is authorized to perform specific acts (market and sell the property) but cannot bind the seller to a sale without their approval✓ Correct
CUniversal agency — the broker can act for the seller in all legal matters
DSubagency — the broker works under another broker's authority
Explanation
A real estate listing creates a special agency relationship — the broker has authority limited to the specific purpose of the listing (marketing and selling the property). Unlike a general agent, the listing broker cannot contractually bind the seller to a purchase agreement without the seller's approval and signature.
Related Mississippi Agency Questions
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