Definition: One who is authorized to represent and to act on behalf of another person (called the principal). A real estate broker is the agent of his client, be it the seller or buyer, to whom he owes a fiduciary obligation. A real estate salesperson is the agent of his broker and does not have a direct personal contractual relationship with either the seller or buyer.
Terms, Definitions, and Concepts: Auction, Finance and Investment, Legal (Law), Management, Real Estate
Added: Fri Jan 06 2006
Last Modified: Tue Aug 12 2008