Question

Agent Smith showed a buyer a listing. The laws in the state require the agent to do an agency disclosure before showing a listing and showing a house to a prospective purchaser creates an agency relationship. If Agent Smith did not use an agency disclosure, and there is no written buyer agency agreement, but Agent Smith showed the listing anyway, what term would best describe the agency relationship

Answer 1

Answer:

Implied agency

Explanation:

Agency

This is simply known as a form of

relationship between two parties in that the principal hires another person to represent him or her.

An agency relationship can be created with 2 types of agreements between the parties. They are

1. Express agency

2. Implied agency

Express agency

This is simply known as a formal contractural agreement. It can be in an oral or written format.

Implied agency

This is often regarded as an implied agreement. It is an agency which is created through the actions of the parties, instead of an express agreement. It is also called Ostensible agency.

Listing Agreement

This is simply defined as written employment contract which gives right to the broker to find a buyer or a tenant for the owner's property.