Agency
Under Vermont agency law, a real estate agent is an example of which type of agent?
AUniversal agent — has authority over all of the principal's affairs
BSpecial agent — has authority limited to a specific transaction or activity✓ Correct
CGeneral agent — has ongoing authority over a broad range of activities
DAdministrative agent — handles only paperwork
Explanation
A real estate agent in a typical sales transaction is a special agent — appointed to accomplish one specific task (selling or purchasing a specific property) with limited authority. A property manager, by contrast, is a general agent with ongoing authority over the managed property.
Related Vermont Agency Questions
- Vermont's 'limited service listing agreement' allows a broker to:
- When a Vermont listing broker receives an offer significantly below the asking price, the broker must:
- Vermont's 'agency confirmation' at the time of contract preparation requires agents to:
- In a transaction where both the buyer and seller are represented by agents from the same brokerage, the brokerage is considered to be:
- An exclusive right to sell listing in Vermont means:
- Vermont's designated agency model allows a broker to:
- Vermont's agency disclosure requirement protects consumers by:
- Vermont requires a licensee to provide agency disclosure to a consumer:
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