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Ch 1-4: Agency rel

Chapter 1-4: Agency Relationships - The Licensee as an Agent of the Principal Br

TermDefinition
Listing agreements are contracts between... The seller and the principal broker of the listing broker.
Agency The relationship of a principal broker and affiliated broker.
Responsibilities of a principal broker Supervision of all affiliated licensees, unlicensed employees, enforcement of policy manual.
Subagent A broker’s relationship with a buyer he represents.
The formal establishment of a principal broker and broker. When the principal broker notifies the Real Estate Agency that the principal broker will supervise the broker.
The principal broker is held accountable for... the actions of affiliated licensees.
Created by: userjoe
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