Law of Agency (RELE 2201)

A study of law of agency including principal-agent and master-servant relationships, the authority of an agent, the termination of an agent’s authority, the fiduciary and other duties of an agent, employment law, deceptive trade practices, listing or buying procedures, and the disclosure of an agency. As the textbook authors state: "Knowledge of agency relationships is vital to a licensee's survival and ultimate success in the field of real estate. As clients and customers become more aware of their rights, real estate licensees are often expected to increase their level of service and are being held to higher standards of practice. Agency law is an evolving law. ....As more case law develops, the interpretations are subject to change."