Word of the day
A real estate broker is the agent of the client (seller or buyer) to whom she owes a fiduciary or statutory obligation. A salesperson, on the other hand, is the agent of his broker and does not have a direct personal contractual relationship with either the seller or the buyer. This fact is relevant when a salesperson decides to change firms and becomes upset when the broker won’t let the salesperson take his listings.
Note that minors cannot appoint an agent to execute their contracts, but an adult may designate a minor to act as an agent.
Industry, Residential Real Estate, Education
Library of Real Estate Clauses
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Brokerage, Consumer News, Residential Real Estate, Misc
Unilateral Contract VS Bilateral Contract
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