#2746
Any time a seller or buyer wants to create an agency relationship with a broker all the principal has to do is agree to the agency relationship orally.
It actually doesn't have to be in writing.
Is this true or false ?
Take your time. The solution is posted below the wildlife photograph.
(don't blow this one)
theory
A. True
It's possible, and legal, to create an agency agreement by either oral or written means.
Some rule of evidence must be applied to confirm the agency relationship if it's an oral agreement.
Make sure that you and your client understand what your relationship will be and what the firm will do for your client.
You may want to have a written agreement.
There are firms that are willing to represent and assist a client as a buyer's agent without a written agreement.
If the client decides to make an offer to purchase, the agent must obtain a written agency agreement.
If the client doesn't sign it, you can't represent and assist the buyer and you may not be required to keep information about the client confidential.
If a client later purchases property through an agent with another firm, the agent who first showed the buyer the property may seek compensation from the other firm.
Make sure your client reads and understands any agency agreement before they sign it.
Always consult with competent legal authority and an attorney if you have questions.
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