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Ch 8: Role of Agencies in Real Estate

About This Chapter

Agencies are an integral part of the real estate profession. Complete the lessons in this chapter to understand their role, then complete the short quizzes to test your comprehension and retention.

Roles of Agencies in Real Estate - Chapter Summary

Real estate agencies are more than just storefronts offering a desk and a chair for each agent. Finding the right agency can really support and enhance your career as a real estate professional. In this chapter you'll learn the value of an agency and its responsibilities to both its agents and its clients. you'll explore topics like:

  • Types of agencies
  • The relationship between agent and principal
  • Understanding the difference between customers and clients
  • Dual agency
  • The role and duties of sub-agents and transaction agents

Pick a topic and work at your own pace as you complete this chapter on real estate agencies. Our knowledgeable instructors provide clear definitions and lots of examples in engaging video and text lessons, making the material easy to learn and remember. Use the written transcripts for study or review, and use the Timeline feature to watch specific topics in a video. Your Dashboard will track your progress, and remember, if you have any questions along the way, just message one of our subject experts. They are there to help! Finally, use the self-assessment quizzes found with each lesson test your retention of the subject material.

7 Lessons in Chapter 8: Role of Agencies in Real Estate
Test your knowledge with a 30-question chapter practice test
Fiduciary Duties of an Agent

1. Fiduciary Duties of an Agent

Agency relationships are fiduciary relationships. This means the agent is obligated to act in the best interests of the principal. This lesson explains the fiduciary duties agents owe to their principals.

The Principal-Agent Relationship & Duties in Real Estate

2. The Principal-Agent Relationship & Duties in Real Estate

The principal-agent relationship in real estate is one built upon trust. In this lesson learn the legal duties an agent and a principal must carry out throughout the time they are engaged in business together.

Types of Real Estate Agencies

3. Types of Real Estate Agencies

In real estate agency and brokerage, the agent has the authority to act on behalf of the client. This lesson will help to identify the various types of agencies available in agency relationships and the power of authority an agent can have as a representative of the client.

Differences Between Real Estate Customers & Clients

4. Differences Between Real Estate Customers & Clients

What is the difference between real estate customers and clients? Although the words are often used interchangeably, in real estate they signify very different roles, so it is important to be able to distinguish between the two. In this lesson, we will review what determines if someone is a customer or client in real estate.

Dual Agency: Definition, Duties & Restrictions

5. Dual Agency: Definition, Duties & Restrictions

In this lesson, we discuss how a dual agency relationship works in a real estate transaction. You will learn some of the differences in duties instead of each party having their own agent and the additional rules involved.

The Role of Subagents in Real Estate Transactions

6. The Role of Subagents in Real Estate Transactions

Just because a real estate agent is helping you find a house, doesn't mean the agent is working in your best interests. In this lesson, you'll learn about subagents and their role in real estate transactions.

Real Estate Transaction Agents: Definition & Duties

7. Real Estate Transaction Agents: Definition & Duties

In this lesson we will define and discuss the role of a transaction agent. Special attention is given to the differences between transaction agents and traditional real estate agents.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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