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A real estate broker has only one fiduciary duty and that is to his or her client, also known as the principal.
Real estate agents act as the broker's representatives -- always. In every part of a real estate transaction, he or she is the broker's agent. Therefore, despite the fact that the agent may have procured the client, he or she did so as the broker's representative. Therefore, the only principal for whom a broker works is the client -- the home buyer or seller.
Wiki User
∙ 11y ago
Wiki User
∙ 12y agoThe principal is the person who first hired the agent. If a homeowner hires an agent to sell their property and the agent shows the home to prospective buyers, the seller is still the principal. The buyer needs to have their own representation, an agent and an attorney.
The principal is the person who first hired the agent. If a homeowner hires an agent to sell their property and the agent shows the home to prospective buyers, the seller is still the principal. The buyer needs to have their own representation, an agent and an attorney.
The principal is the person who first hired the agent. If a homeowner hires an agent to sell their property and the agent shows the home to prospective buyers, the seller is still the principal. The buyer needs to have their own representation, an agent and an attorney.
The principal is the person who first hired the agent. If a homeowner hires an agent to sell their property and the agent shows the home to prospective buyers, the seller is still the principal. The buyer needs to have their own representation, an agent and an attorney.
Wiki User
∙ 12y agoThe principal is the person who first hired the agent. If a homeowner hires an agent to sell their property and the agent shows the home to prospective buyers, the seller is still the principal. The buyer needs to have their own representation, an agent and an attorney.
Wiki User
∙ 12y agoUsually a Buyer or a Seller. It depends on who they are contracted with.
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What is a principal real estate agent?
A person with a state/provincial license to represent a buyer or a seller in a real estate transaction in exchange for commission. Most agents work for a real estate broker or realtor.
Can A Texas Real Estate Broker take a Net Listing?
Yes, texas real estate broker can take a net listing.
What real estate broker sells the most real estate in the US?
Coldwell banker
What does an estate broker do?
An Estate Broker is a person who acts as the middle man between buyers and sellers of real estate. They help with the transaction.
How do I get involved in the home real estate industry?
If you want to be a real estate broker in the United States you would be required to have a license. A real estate broker without a license in the United States would be considered illegal and could be sent to jail.
What makes a real estate broker different from a real estate agent?
Real estate broker & Real estate agent are same both of them will do the same job.Answer:Real Estate Brokers required to have more experience and education, than agents. And also a real estate agent may be a person who works under a registered broker.
What is the average real estate commission in Florida?
In Florida, real estate commissions is being negotiated between the principal (seller or buyer) and real estate broker during exclusive listing appointment or when representing a buyer through an exclusive buyer's broker agreement.
Can a principal broker who is supposed to devote his full time to the management of an office also sell real estate from that office?
Yes, a principal broker can participate in all real estate functions. Listing, selling, leasing, management etc. while managing his/her office and agents.
What is a principal real estate agent?
A person with a state/provincial license to represent a buyer or a seller in a real estate transaction in exchange for commission. Most agents work for a real estate broker or realtor.
Can a real estate broker waive his commission to another person?
A real estate broker can waive a commission at will.
How is a real estate broker different from a real estate agent in California?
A real estate "agent" is licensed to practice real estate, but only under the direct supervision of a broker. Without a broker to oversee their activities and take responsibility for their actions a real estate agent is not allowed to practice. There is a trick of language here though, and it has to do with Agency Law. By law, an agent is a person who acts on behalf of someone else. A real estate broker is also called a real estate agent. This is because they are acting as an agent for the buyer or seller in a transaction. So the broker has the legal title of "broker" generally and the title of agent in relation to his or her client. A real estate agent working under a broker is an agent only to the broker, the broker is agent to the client.
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Can A Texas Real Estate Broker take a Net Listing?
Yes, texas real estate broker can take a net listing.
Would you capitalize 'real estate broker'?
No, the term "real estate broker" is not typically capitalized unless it is at the beginning of a sentence or part of a title.
What real estate broker sells the most real estate in the US?
Coldwell banker
What does an estate broker do?
An Estate Broker is a person who acts as the middle man between buyers and sellers of real estate. They help with the transaction.
What is co broker in real estate?
A co - broker works with the listing brokerage to help sell the property. It is commonly referred as selling broker which will bring buyer and the listing broker will work seller to help complete the transaction.
