What defines a special agent in real estate?

What defines a special agent in real estate?

• A. An agent handling multiple properties
• B. An agent authorized for specific tasks
• C. An agent managing a real estate firm
• D. An agent representing buyers only

Answer: (B)

A special agent in real estate is defined as an agent authorized to act on behalf of a principal for specific tasks or transactions. This designation typically involves a limited scope of authority, allowing the agent to perform particular duties such as negotiating a sale or facilitating a rental agreement, but not beyond those parameters. For example, when a real estate broker represents a seller to market their property, they are acting as a special agent, as their authority is specifically tied to that transaction. In contrast, a general agent would have broader authority, often managing various aspects of a business or ongoing transactions. The other choices do not accurately describe the role of a special agent. An agent handling multiple properties may still be a special agent if they are working under specific agreements for each property. An agent managing a real estate firm typically functions as a general agent, overseeing broader operations, while an agent representing buyers only does not reflect the distinct limitations and specific authority that define a special agent's role.

A special agent in real estate is defined as an agent authorized to act on behalf of a principal for specific tasks or transactions. This designation typically involves a limited scope of authority, allowing the agent to perform particular duties such as negotiating a sale or facilitating a rental agreement, but not beyond those parameters.

For example, when a real estate broker represents a seller to market their property, they are acting as a special agent, as their authority is specifically tied to that transaction. In contrast, a general agent would have broader authority, often managing various aspects of a business or ongoing transactions.

The other choices do not accurately describe the role of a special agent. An agent handling multiple properties may still be a special agent if they are working under specific agreements for each property. An agent managing a real estate firm typically functions as a general agent, overseeing broader operations, while an agent representing buyers only does not reflect the distinct limitations and specific authority that define a special agent's role.