The Number One Success System Gifting

[Tommy Lee]

http://www.noss123.com/


   - *Agency relationship*: Traditionally, the broker provides a
   conventional full-service, commission-based brokerage relationship under a
   signed listing agreement with a seller or "buyer representation" agreement
   with a buyer, thus creating under common law in most states an agency
   relationship with fiduciary obligations. The seller or buyer is then a
   client of the broker. Some states also have statutes which define and
   control the nature of the representation.

Agency relationships in residential real estate transactions involve the
legal representation by a real estate broker (on behalf of a real estate
company) of the principal, whether that person or persons is a buyer or a
seller. The broker (and his/her licensed real estate agents) then becomes
the agent of the principal.