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AgencyTypes Of AgencyHARD

In South Dakota, a licensed sales agent working under a supervising broker is considered a:

Correct Answer

B) Special agent of the client and a subagent of the broker

A licensed sales agent in South Dakota is a special agent of the client, meaning they are authorized to act on the client's behalf only for a specific transaction or purpose. The sales agent also functions as a subagent of their supervising broker, operating within the scope of their license under the broker's supervision and authority. The agent does not have broad or universal authority to bind the broker in matters beyond licensed real estate activities.

Answer Options
A
General agent of the client
B
Special agent of the client and a subagent of the broker
C
Universal agent of the broker
D
Independent contractor with no agency relationship

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Related Topics & Key Terms

Related Topics:

universal-agencypower-of-attorneyscope-of-authoritybroker-supervision

Key Terms:

special agentgeneral agentuniversal agentscope of authorityagent-broker relationship

Related Concepts

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.

An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.

An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.

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