SlideShare a Scribd company logo
Law of Agency
 Roles in Agency Relationships
 Agent’s Scope of Authority
› Special Agency
› General Agency
 Agency Relationships in Real Estate
› Principal - Client
› Agent - Broker
› Third Party – Customer
› Multiple Listing Service (MLS)
Obligations and Rights of Agents and Clients
 Misrepresentation or Concealment of Material Facts
 Duties a Real Estate Agent Owes to a Client
› Fiduciary Duties Owed to Clients
› Statutory Minimum Services to Clients
 Duties a Client Owes a Real Estate Agent
 Duties a Real Estate Agent Owes to Customers
Disclosing Brokerage Services and Agency
Relationships
 Disclosure of Representation
› First Substantive Dialogue
› Mandated IABS Verbiage
› When to Offer the IABS Statement
› Using the Information About Brokerage Services Form
 Disclosure of the Agency Relationship
› Steps in the Disclosure Process
Creating & Terminating Real Estate Agency
 Creating a Real Estate Agency Relationship
› Agency Features of Brokerage Agreements
› Express Agency
› Agency by Ratification
› Ostensible or Implied Agency
 Terminating an Agency Relationship
 Irrevocable Agency
› Full Performance
› Expiration of Its Term
› Agreement of the Parties
› Breach of Contract
› Impossibility of Performance
› Operation of Law
› Death, Incapacity, or Insanity
of the Client or Broker
Creating an Intermediary Relationship
 Consent
 Disclosure
› Can Practitioners Disclaim All Agency?
 Appointing Licensees
› Who May be Appointed?
› Are Appointments Required?

More Related Content

Similar to Tx law-18 - 3

Tx law-17 - unit 6
Tx law-17 - unit 6Tx law-17 - unit 6
Tx law-17 - unit 6
Eric Sharkey
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
Tom Blefko
 
First Time Homebuyer Presentation
First Time Homebuyer PresentationFirst Time Homebuyer Presentation
First Time Homebuyer Presentation
Arletha (Candy) Myers
 
Tx law-18 - unit 13
Tx law-18 - unit 13Tx law-18 - unit 13
Tx law-18 - unit 13
Eric Sharkey
 
Week 5 The Law of Agency in Travel and Tourism
Week 5  The Law of Agency in Travel and TourismWeek 5  The Law of Agency in Travel and Tourism
Week 5 The Law of Agency in Travel and Tourism
Whistling Crow
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
Tom Blefko
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
Tom Blefko
 
Agency Relationships Through Nevada Law.pptx
Agency Relationships Through Nevada Law.pptxAgency Relationships Through Nevada Law.pptx
Agency Relationships Through Nevada Law.pptx
tyler716641
 
MA Real Estate CEU - Dual Agency - Falter_11-2-13
MA Real Estate CEU - Dual Agency - Falter_11-2-13MA Real Estate CEU - Dual Agency - Falter_11-2-13
MA Real Estate CEU - Dual Agency - Falter_11-2-13
Bob Falter, GRI, ABR, MRP, SRES
 
PruHSG Chambersburg Sales Meeting 11-12-13
PruHSG Chambersburg Sales Meeting 11-12-13PruHSG Chambersburg Sales Meeting 11-12-13
PruHSG Chambersburg Sales Meeting 11-12-13
Tom Blefko
 
Buyer Agency Sales Meeting
Buyer Agency Sales MeetingBuyer Agency Sales Meeting
Buyer Agency Sales Meeting
Tom Blefko
 
Texas Law of Agency
Texas Law of AgencyTexas Law of Agency
Texas Law of Agency
Peggy Santmyer
 
TX-AGENT-16 04
TX-AGENT-16 04TX-AGENT-16 04
TX-AGENT-16 04
alliedccd
 
Tx law-17 - unit 12
Tx law-17 - unit 12Tx law-17 - unit 12
Tx law-17 - unit 12
Eric Sharkey
 
Hiring An Agent And Finding Deals - Updated 2/5/09
Hiring An Agent And Finding Deals - Updated 2/5/09Hiring An Agent And Finding Deals - Updated 2/5/09
Hiring An Agent And Finding Deals - Updated 2/5/09
Scott Schang
 
TREC Broker Responsibility
TREC Broker ResponsibilityTREC Broker Responsibility
TREC Broker ResponsibilityPeggy Santmyer
 

Similar to Tx law-18 - 3 (16)

Tx law-17 - unit 6
Tx law-17 - unit 6Tx law-17 - unit 6
Tx law-17 - unit 6
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
 
First Time Homebuyer Presentation
First Time Homebuyer PresentationFirst Time Homebuyer Presentation
First Time Homebuyer Presentation
 
Tx law-18 - unit 13
Tx law-18 - unit 13Tx law-18 - unit 13
Tx law-18 - unit 13
 
Week 5 The Law of Agency in Travel and Tourism
Week 5  The Law of Agency in Travel and TourismWeek 5  The Law of Agency in Travel and Tourism
Week 5 The Law of Agency in Travel and Tourism
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
 
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition RevisedLCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
 
Agency Relationships Through Nevada Law.pptx
Agency Relationships Through Nevada Law.pptxAgency Relationships Through Nevada Law.pptx
Agency Relationships Through Nevada Law.pptx
 
MA Real Estate CEU - Dual Agency - Falter_11-2-13
MA Real Estate CEU - Dual Agency - Falter_11-2-13MA Real Estate CEU - Dual Agency - Falter_11-2-13
MA Real Estate CEU - Dual Agency - Falter_11-2-13
 
PruHSG Chambersburg Sales Meeting 11-12-13
PruHSG Chambersburg Sales Meeting 11-12-13PruHSG Chambersburg Sales Meeting 11-12-13
PruHSG Chambersburg Sales Meeting 11-12-13
 
Buyer Agency Sales Meeting
Buyer Agency Sales MeetingBuyer Agency Sales Meeting
Buyer Agency Sales Meeting
 
Texas Law of Agency
Texas Law of AgencyTexas Law of Agency
Texas Law of Agency
 
TX-AGENT-16 04
TX-AGENT-16 04TX-AGENT-16 04
TX-AGENT-16 04
 
Tx law-17 - unit 12
Tx law-17 - unit 12Tx law-17 - unit 12
Tx law-17 - unit 12
 
Hiring An Agent And Finding Deals - Updated 2/5/09
Hiring An Agent And Finding Deals - Updated 2/5/09Hiring An Agent And Finding Deals - Updated 2/5/09
Hiring An Agent And Finding Deals - Updated 2/5/09
 
TREC Broker Responsibility
TREC Broker ResponsibilityTREC Broker Responsibility
TREC Broker Responsibility
 

More from Eric Sharkey

Tx law-18 - unit 14
Tx law-18 - unit 14Tx law-18 - unit 14
Tx law-18 - unit 14
Eric Sharkey
 
Tx law-18 - unit 12
Tx law-18 - unit 12Tx law-18 - unit 12
Tx law-18 - unit 12
Eric Sharkey
 
Tx law-18 - unit 11
Tx law-18 - unit 11Tx law-18 - unit 11
Tx law-18 - unit 11
Eric Sharkey
 
Tx law-18 - unit 10
Tx law-18 - unit 10Tx law-18 - unit 10
Tx law-18 - unit 10
Eric Sharkey
 
Tx law-18 - unit 9
Tx law-18 - unit 9Tx law-18 - unit 9
Tx law-18 - unit 9
Eric Sharkey
 
Tx law-18 - unit 8
Tx law-18 - unit 8Tx law-18 - unit 8
Tx law-18 - unit 8
Eric Sharkey
 
Tx law-18 - unit 7
Tx law-18 - unit 7Tx law-18 - unit 7
Tx law-18 - unit 7
Eric Sharkey
 
Tx law-18 - unit 6
Tx law-18 - unit 6Tx law-18 - unit 6
Tx law-18 - unit 6
Eric Sharkey
 
Tx law-18 - unit 5
Tx law-18 - unit 5Tx law-18 - unit 5
Tx law-18 - unit 5
Eric Sharkey
 
Tx law-18 - unit 4
Tx law-18 - unit 4Tx law-18 - unit 4
Tx law-18 - unit 4
Eric Sharkey
 
Tx law-18 - unit 2
Tx law-18 - unit 2Tx law-18 - unit 2
Tx law-18 - unit 2
Eric Sharkey
 
Tx law-18 - unit 1
Tx law-18 - unit 1Tx law-18 - unit 1
Tx law-18 - unit 1
Eric Sharkey
 
Safe 7 hr-ce-18 module 7
Safe   7 hr-ce-18 module 7Safe   7 hr-ce-18 module 7
Safe 7 hr-ce-18 module 7
Eric Sharkey
 
Safe 7 hr-ce-18 module 6
Safe   7 hr-ce-18 module 6Safe   7 hr-ce-18 module 6
Safe 7 hr-ce-18 module 6
Eric Sharkey
 
Safe 7 hr-ce-18 module 5
Safe   7 hr-ce-18 module 5Safe   7 hr-ce-18 module 5
Safe 7 hr-ce-18 module 5
Eric Sharkey
 
Safe 7 hr-ce-18 module 4
Safe   7 hr-ce-18 module 4Safe   7 hr-ce-18 module 4
Safe 7 hr-ce-18 module 4
Eric Sharkey
 
Safe 7 hr-ce-18 module 3
Safe   7 hr-ce-18 module 3Safe   7 hr-ce-18 module 3
Safe 7 hr-ce-18 module 3
Eric Sharkey
 
Safe 7 hr-ce-18 module 2
Safe   7 hr-ce-18 module 2Safe   7 hr-ce-18 module 2
Safe 7 hr-ce-18 module 2
Eric Sharkey
 
Safe 7 hr-ce-18 module 1
Safe   7 hr-ce-18 module 1Safe   7 hr-ce-18 module 1
Safe 7 hr-ce-18 module 1
Eric Sharkey
 
Sae nv module 2
Sae nv module 2Sae nv module 2
Sae nv module 2
Eric Sharkey
 

More from Eric Sharkey (20)

Tx law-18 - unit 14
Tx law-18 - unit 14Tx law-18 - unit 14
Tx law-18 - unit 14
 
Tx law-18 - unit 12
Tx law-18 - unit 12Tx law-18 - unit 12
Tx law-18 - unit 12
 
Tx law-18 - unit 11
Tx law-18 - unit 11Tx law-18 - unit 11
Tx law-18 - unit 11
 
Tx law-18 - unit 10
Tx law-18 - unit 10Tx law-18 - unit 10
Tx law-18 - unit 10
 
Tx law-18 - unit 9
Tx law-18 - unit 9Tx law-18 - unit 9
Tx law-18 - unit 9
 
Tx law-18 - unit 8
Tx law-18 - unit 8Tx law-18 - unit 8
Tx law-18 - unit 8
 
Tx law-18 - unit 7
Tx law-18 - unit 7Tx law-18 - unit 7
Tx law-18 - unit 7
 
Tx law-18 - unit 6
Tx law-18 - unit 6Tx law-18 - unit 6
Tx law-18 - unit 6
 
Tx law-18 - unit 5
Tx law-18 - unit 5Tx law-18 - unit 5
Tx law-18 - unit 5
 
Tx law-18 - unit 4
Tx law-18 - unit 4Tx law-18 - unit 4
Tx law-18 - unit 4
 
Tx law-18 - unit 2
Tx law-18 - unit 2Tx law-18 - unit 2
Tx law-18 - unit 2
 
Tx law-18 - unit 1
Tx law-18 - unit 1Tx law-18 - unit 1
Tx law-18 - unit 1
 
Safe 7 hr-ce-18 module 7
Safe   7 hr-ce-18 module 7Safe   7 hr-ce-18 module 7
Safe 7 hr-ce-18 module 7
 
Safe 7 hr-ce-18 module 6
Safe   7 hr-ce-18 module 6Safe   7 hr-ce-18 module 6
Safe 7 hr-ce-18 module 6
 
Safe 7 hr-ce-18 module 5
Safe   7 hr-ce-18 module 5Safe   7 hr-ce-18 module 5
Safe 7 hr-ce-18 module 5
 
Safe 7 hr-ce-18 module 4
Safe   7 hr-ce-18 module 4Safe   7 hr-ce-18 module 4
Safe 7 hr-ce-18 module 4
 
Safe 7 hr-ce-18 module 3
Safe   7 hr-ce-18 module 3Safe   7 hr-ce-18 module 3
Safe 7 hr-ce-18 module 3
 
Safe 7 hr-ce-18 module 2
Safe   7 hr-ce-18 module 2Safe   7 hr-ce-18 module 2
Safe 7 hr-ce-18 module 2
 
Safe 7 hr-ce-18 module 1
Safe   7 hr-ce-18 module 1Safe   7 hr-ce-18 module 1
Safe 7 hr-ce-18 module 1
 
Sae nv module 2
Sae nv module 2Sae nv module 2
Sae nv module 2
 

Recently uploaded

How to Scan Tenants in NYC - You Should Know!
How to Scan Tenants in NYC - You Should Know!How to Scan Tenants in NYC - You Should Know!
How to Scan Tenants in NYC - You Should Know!
BelgiumManagement
 
Brigade Insignia at Yelahanka Brochure.pdf
Brigade Insignia at Yelahanka Brochure.pdfBrigade Insignia at Yelahanka Brochure.pdf
Brigade Insignia at Yelahanka Brochure.pdf
SachinChauhan191
 
Riverview City Loni Kalbhor Pune Brochure
Riverview City Loni Kalbhor Pune BrochureRiverview City Loni Kalbhor Pune Brochure
Riverview City Loni Kalbhor Pune Brochure
kishor21012022
 
MC Heights-Best Construction Company in jhang
MC Heights-Best Construction Company in jhangMC Heights-Best Construction Company in jhang
MC Heights-Best Construction Company in jhang
laraibfatim009
 
Biography and career about Lixin Azarmehr
Biography and career about Lixin AzarmehrBiography and career about Lixin Azarmehr
Biography and career about Lixin Azarmehr
Lixin Azarmehr
 
Avrupa Konutlari Yenimahalle - Listing Turkey
Avrupa Konutlari Yenimahalle - Listing TurkeyAvrupa Konutlari Yenimahalle - Listing Turkey
Avrupa Konutlari Yenimahalle - Listing Turkey
Listing Turkey
 
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...
JagadishKR1
 
Green Homes, Islamabad Presentation .pdf
Green Homes, Islamabad Presentation .pdfGreen Homes, Islamabad Presentation .pdf
Green Homes, Islamabad Presentation .pdf
ticktoktips
 
Omaxe Sports City Dwarka A Comprehensive Guide
Omaxe Sports City Dwarka A Comprehensive GuideOmaxe Sports City Dwarka A Comprehensive Guide
Omaxe Sports City Dwarka A Comprehensive Guide
omaxesportscitydwark
 
Architectural & Interior design portfolio.pdf
Architectural & Interior design portfolio.pdfArchitectural & Interior design portfolio.pdf
Architectural & Interior design portfolio.pdf
susantebinum
 
How to keep your Home naturally Cool and Warm
How to keep your Home naturally Cool and WarmHow to keep your Home naturally Cool and Warm
How to keep your Home naturally Cool and Warm
Vinra Construction
 
Killer Referans Bahcesehir Catalog Listing Turkey
Killer Referans Bahcesehir Catalog Listing TurkeyKiller Referans Bahcesehir Catalog Listing Turkey
Killer Referans Bahcesehir Catalog Listing Turkey
Listing Turkey
 
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...
BrickAndBolt
 
SVN Live 6.3.24 Weekly Property Broadcast
SVN Live 6.3.24 Weekly Property BroadcastSVN Live 6.3.24 Weekly Property Broadcast
SVN Live 6.3.24 Weekly Property Broadcast
SVN International Corp.
 
Torun Center Residences Istanbul - Listing Turkey
Torun Center Residences Istanbul - Listing TurkeyTorun Center Residences Istanbul - Listing Turkey
Torun Center Residences Istanbul - Listing Turkey
Listing Turkey
 
One20 North Vancouver Floor Plans by Three Shores Development.
One20 North Vancouver Floor Plans by Three Shores Development.One20 North Vancouver Floor Plans by Three Shores Development.
One20 North Vancouver Floor Plans by Three Shores Development.
VickyAulakh1
 
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...
Presentation to Windust Meadows HOA Board of Directors June 4, 2024:  Focus o...Presentation to Windust Meadows HOA Board of Directors June 4, 2024:  Focus o...
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...
Joseph Lewis Aguirre
 
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...
JagadishKR1
 
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdf
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfRixos Tersane Istanbul Residences Brochure_May2024_ENG.pdf
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdf
Listing Turkey
 
Simpolo Company Profile & Corporate Logo
Simpolo Company Profile & Corporate LogoSimpolo Company Profile & Corporate Logo
Simpolo Company Profile & Corporate Logo
simpolosparkteam
 

Recently uploaded (20)

How to Scan Tenants in NYC - You Should Know!
How to Scan Tenants in NYC - You Should Know!How to Scan Tenants in NYC - You Should Know!
How to Scan Tenants in NYC - You Should Know!
 
Brigade Insignia at Yelahanka Brochure.pdf
Brigade Insignia at Yelahanka Brochure.pdfBrigade Insignia at Yelahanka Brochure.pdf
Brigade Insignia at Yelahanka Brochure.pdf
 
Riverview City Loni Kalbhor Pune Brochure
Riverview City Loni Kalbhor Pune BrochureRiverview City Loni Kalbhor Pune Brochure
Riverview City Loni Kalbhor Pune Brochure
 
MC Heights-Best Construction Company in jhang
MC Heights-Best Construction Company in jhangMC Heights-Best Construction Company in jhang
MC Heights-Best Construction Company in jhang
 
Biography and career about Lixin Azarmehr
Biography and career about Lixin AzarmehrBiography and career about Lixin Azarmehr
Biography and career about Lixin Azarmehr
 
Avrupa Konutlari Yenimahalle - Listing Turkey
Avrupa Konutlari Yenimahalle - Listing TurkeyAvrupa Konutlari Yenimahalle - Listing Turkey
Avrupa Konutlari Yenimahalle - Listing Turkey
 
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...
 
Green Homes, Islamabad Presentation .pdf
Green Homes, Islamabad Presentation .pdfGreen Homes, Islamabad Presentation .pdf
Green Homes, Islamabad Presentation .pdf
 
Omaxe Sports City Dwarka A Comprehensive Guide
Omaxe Sports City Dwarka A Comprehensive GuideOmaxe Sports City Dwarka A Comprehensive Guide
Omaxe Sports City Dwarka A Comprehensive Guide
 
Architectural & Interior design portfolio.pdf
Architectural & Interior design portfolio.pdfArchitectural & Interior design portfolio.pdf
Architectural & Interior design portfolio.pdf
 
How to keep your Home naturally Cool and Warm
How to keep your Home naturally Cool and WarmHow to keep your Home naturally Cool and Warm
How to keep your Home naturally Cool and Warm
 
Killer Referans Bahcesehir Catalog Listing Turkey
Killer Referans Bahcesehir Catalog Listing TurkeyKiller Referans Bahcesehir Catalog Listing Turkey
Killer Referans Bahcesehir Catalog Listing Turkey
 
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...
 
SVN Live 6.3.24 Weekly Property Broadcast
SVN Live 6.3.24 Weekly Property BroadcastSVN Live 6.3.24 Weekly Property Broadcast
SVN Live 6.3.24 Weekly Property Broadcast
 
Torun Center Residences Istanbul - Listing Turkey
Torun Center Residences Istanbul - Listing TurkeyTorun Center Residences Istanbul - Listing Turkey
Torun Center Residences Istanbul - Listing Turkey
 
One20 North Vancouver Floor Plans by Three Shores Development.
One20 North Vancouver Floor Plans by Three Shores Development.One20 North Vancouver Floor Plans by Three Shores Development.
One20 North Vancouver Floor Plans by Three Shores Development.
 
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...
Presentation to Windust Meadows HOA Board of Directors June 4, 2024:  Focus o...Presentation to Windust Meadows HOA Board of Directors June 4, 2024:  Focus o...
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...
 
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...
 
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdf
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfRixos Tersane Istanbul Residences Brochure_May2024_ENG.pdf
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdf
 
Simpolo Company Profile & Corporate Logo
Simpolo Company Profile & Corporate LogoSimpolo Company Profile & Corporate Logo
Simpolo Company Profile & Corporate Logo
 

Tx law-18 - 3

  • 1.
  • 2. Law of Agency  Roles in Agency Relationships  Agent’s Scope of Authority › Special Agency › General Agency  Agency Relationships in Real Estate › Principal - Client › Agent - Broker › Third Party – Customer › Multiple Listing Service (MLS)
  • 3. Obligations and Rights of Agents and Clients  Misrepresentation or Concealment of Material Facts  Duties a Real Estate Agent Owes to a Client › Fiduciary Duties Owed to Clients › Statutory Minimum Services to Clients  Duties a Client Owes a Real Estate Agent  Duties a Real Estate Agent Owes to Customers
  • 4. Disclosing Brokerage Services and Agency Relationships  Disclosure of Representation › First Substantive Dialogue › Mandated IABS Verbiage › When to Offer the IABS Statement › Using the Information About Brokerage Services Form  Disclosure of the Agency Relationship › Steps in the Disclosure Process
  • 5. Creating & Terminating Real Estate Agency  Creating a Real Estate Agency Relationship › Agency Features of Brokerage Agreements › Express Agency › Agency by Ratification › Ostensible or Implied Agency  Terminating an Agency Relationship  Irrevocable Agency › Full Performance › Expiration of Its Term › Agreement of the Parties › Breach of Contract › Impossibility of Performance › Operation of Law › Death, Incapacity, or Insanity of the Client or Broker
  • 6. Creating an Intermediary Relationship  Consent  Disclosure › Can Practitioners Disclaim All Agency?  Appointing Licensees › Who May be Appointed? › Are Appointments Required?