Agency Law & Fiduciary Duties

This unit establishes the foundational principles of agency law as applied to real estate practice, covering the essential elements of agency creation, legal authority, and the distinction between agents and other parties in real estate transactions.

This unit examines the distinct types of agency relationships available in real estate practice, including seller agency, buyer agency, dual agency, and designated agency, with emphasis on the legal requirements and practical implications of each arrangement.

This unit provides a comprehensive examination of the six fiduciary duties—obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care—that form the foundation of the agent-client relationship in real estate practice.

This unit examines the statutory and regulatory requirements for disclosing agency relationships in real estate transactions, including timing requirements, disclosure content, and documentation standards that protect both agents and consumers.

This unit examines the complex legal landscape of dual agency in real estate, including statutory requirements, the modified duties owed to parties, inherent conflicts of interest, and practical strategies for minimizing liability in dual agency situations.

This unit examines the legal doctrine of vicarious liability as it applies to real estate brokerages, including respondeat superior, scope of employment analysis, broker supervision duties, and strategies for managing liability risks in multi-agent real estate operations.

This unit examines the legal principles governing termination of real estate agency relationships, including termination by performance, expiration, mutual agreement, revocation, renunciation, and operation of law, along with the commission disputes that frequently accompany early termination.

This unit examines landmark agency law cases and realistic scenarios to illustrate practical application of agency principles, including fiduciary duty violations, disclosure failures, dual agency disputes, and commission controversies, providing lessons for professional practice.