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principal: Subagents
- 05/28/11 02:38 AM
Subagents are persons authorized to assist and represent the agent.A broker's sales associates are general agents of the broker and subagents of the broker's principals.
Duties are delegated by the original agent-Sales associate is an agent of the broker-In single agency, broker is an agent of the principal-Sales associate is a subagent of the principal-Sales associates owe same fiduciary obligations to the principal as does broker Information is courtesy of Rowlett Real Estate School LLC and Captain Wayne Rowlett.
For information on our classroom courses and online courses visit our website at www.rowlettrealestateschool.com Check out our website for a full line … (1 comments)
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principal: Called the Customer not Principal
- 05/28/11 02:33 AM
In a transaction broker relationship, the seller or the buyer is called a customer, not a principal.
In a transaction broker relationship the (customer) is not responsible for the acts of a licensee. Transaction brokers may represent both buyer and seller in a real estate transaction.Chapter 475 defines customer to mean a member of the public who is or may be a buyer or a seller of real property and may or may not be represented by a real estate licensee.
Information is courtesy of Rowlett Real Estate School LLC and Captain Wayne Rowlett.
For information on our classroom courses and … (3 comments)
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Subagents are persons authorized to assist and represent the agent.A broker's sales associates are general agents of the broker and subagents of the broker's principals.
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