Agency
Which of the following best describes the difference between a 'general agent' and a 'special agent' in NH real estate?
AA general agent represents both buyer and seller; a special agent represents only one party
BA general agent has broad authority to act on behalf of the principal in a range of matters; a special agent is authorized for a specific transaction or act✓ Correct
CA general agent is a broker; a special agent is a salesperson
DThere is no legal distinction between general and special agents in NH
Explanation
A general agent has broad, ongoing authority to act for the principal in multiple matters (e.g.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate 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.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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