"Who represents whom?" is a question that every California licensee must be able to answer in every transaction. This course provides answers to that question as it explores how agency relationships are created and terminated, the fiduciary duties and statutory duties owed to clients and customers, and the potential liabilities that may arise during such relationships. The course also examines the different types of listing agreements and disclosures required by law, and how buyer brokerage and dual agency operate in California.

Agency - General Information Page

Upon completion of this course, you will be able to:

• differentiate between a client and a customer in a real estate transaction
• explain the fiduciary duties owed to a client
• describe the basic ways that a fiduciary relationship may be terminated
• list the ministerial and statutory duties owed a customer
• describe the different types of agents and the scope of their authority
• relate the most popular types of agency agreements used in the real estate industry
• explain how licensees create a dual agency relationship with an in-house sale
• describe the limited responsibilities that an agent has in a dual agency relationship
• discuss the disclosures that must be made regarding agency relationships, including the timing of those disclosures