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Education, Misc
November 30, 2018
Gratuitous Agent
Word of the day
Gratuitous Agent
An agent who receives no compensation for services. Real estate agents typically work on a payment basis contingent on selling a property. Even though unpaid, the agent still owes full fiduciary or statutory duties to the principal. This may be true even though a licensed agent may have volunteered to help a friend.
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Written by
John Reilly
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