A general agent issomebody who actually has more of a power of attorney,and can lock you in legally to a contract. A lot of time you will find that your title people will act as general agents for you,especially if you can attend your own closing,maybe because you檙e out of state or out of the area.
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What is an example of a general agent?
2 ?General agent ?A property manager is an excellent example of a general agent. A general agent represents the principal in a range of activities or a particular business. A general power of attorney can create this type of agency. 3 ?Universal agent ?An agent who represents the principal in all of their legal matters is a universal agent.
What is an agent in real estate?
An agent is someone who represents someone else (principal) while working with third parties. In a real estate transaction, a principal is also referred to as the client. The relationship between an agent and the principal is known as agency.
What is the difference between a general and a special agent?
A general real estate agent is hired to conduct a number of different real estate related tasks for a company, while a special real estate agent has a specific responsibility or set of responsibilities to which he/she is limited. Let look at an example of a special agent in real estate.
What is a brokerage general agent?
A brokerage general agent also operates as an insurance wholesaler with the authority to accept and place applications from, and possibly appoint, independent agents on behalf of an insurance carrier. They usually provide underwriting and administrative services on behalf of the insurers they represent.