Types of Agency Relationships

Contract Termination and BreachPrev Fiduciary Duties Owed to ClientsNext

Agency law defines the legal relationship between a broker and their client, and this lesson covers the main types tested on the exam: seller's agent, buyer's agent, dual agent, and designated agent, along with the disclosure requirements attached to each. Dual agency in particular is heavily tested since disclosure and consent rules vary and the exam likes to test edge cases.

We also cover subagency and how it can create liability for a listing broker even when a cooperating agent brings the buyer.

Property Ownership and Land Use

Types of Property Ownership Land Use Controls and Zoning Easements, Liens, and Encumbrances

Contracts and Real Estate Transactions

Essential Elements of a Valid Contract Listing Agreements and Purchase Contracts Contract Termination and Breach

Brokerage Relationships and Agency Management

Types of Agency Relationships Fiduciary Duties Owed to Clients Broker and Agent Licensing Requirements

Fair Housing and Real Estate Law

The Fair Housing Act and Protected Classes Advertising and Disclosure Compliance

Real Estate Financing

Mortgage Types and Loan Instruments Loan-to-Value and Qualifying Ratios

Real Estate Math

Commission Splits and Proration Calculations Area, Value, and Appreciation Calculations

Closing the Transaction

The Closing Process and Settlement Statement Title Transfer and Deed Types