Agency
In South Dakota, a real estate agent's authority as an agent is defined by the:
AMLS membership rules
BAgency agreement between the agent's broker and the principal✓ Correct
CState real estate license law alone
DLocal board of Realtors guidelines
Explanation
The scope and extent of a real estate agent's authority is defined by the agency agreement (listing agreement for seller representation, buyer agency agreement for buyer representation). The agent's authority is limited to what the principal has expressly or impliedly granted.
Related South Dakota Agency Questions
- In South Dakota, a buyer's agent who discovers a zoning change that will allow commercial development adjacent to the residential property the buyer is considering should:
- A South Dakota buyer's agent discovers that the seller's property has an undisclosed drainage problem. The buyer's agent should:
- In South Dakota, when does a buyer's agent's authority typically terminate?
- In South Dakota, if a buyer's agent has a personal interest in a property the buyer is considering (such as the property belonging to a family member), the agent must:
- A South Dakota real estate agent who acts as a transaction coordinator (facilitator) rather than an agent for either party:
- The fiduciary duty of 'reasonable care' in a South Dakota agency relationship requires the agent to:
- A South Dakota listing agent who is also a licensed contractor wants to purchase a property they are listing. They must:
- In South Dakota, an agent's 'duty of obedience' requires them to:
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