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Within the world of real estate in the United States, the term “agency” plays a critical role in how business is conducted. It is essential for professionals and clients alike to understand the differences between a real estate agent and a real estate broker. Special Agent and a General Agent to establish appropriate and successful business relationships.
Special Agent
A Special Agent is an agent appointed to act on behalf of someone else (principal) for a specific purpose or a one-time transaction.
Key Features:
- Limited Mandate: They only have authority to carry out a specific task or transaction.
- Short Term Relationship: Once the task or transaction is completed, the relationship between the principal and the Special Agent usually ends.
General Agent
A General Agent has the power to represent his principal in various matters and transactions.
Key Features:
- Broad Responsibilities: They can handle multiple transactions or issues for the same principal.
- Long-term relationship: They often have a more extended relationship with the principal, overseeing a series of transactions or managing properties over an extended period.
Conclusion
As he Special Agent As the General Agent They offer different advantages and are used in different scenarios. By understanding their roles and differences, both agents and customers can establish and maintain clearer, more effective relationships.