Express agency is the most common and straightforward form of agency creation in real estate. Written agreements like listing contracts and buyer agency agreements are examples of express agency. While oral agreements can create agency, written agreements are preferred for enforceability and clarity.
A seller signs a 6-month exclusive right-to-sell listing agreement with a broker. This written contract is an express agency agreement that clearly defines the terms, duties, and compensation.
Express agency is created by AGREEMENT (written or oral). Most real estate agency is express. Compare with implied agency (created by conduct) and agency by estoppel (created by principal's misleading behavior).
Related Terms
Related Concepts
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
Frequently Asked Questions
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