1. U N IT 2: A GEN C Y R ELATION SH IPS:
W OR K IN G FOR C LIEN TS
TEXAS LAW OF AGENCY
2. UNIT 2: AGENCY RELATIONSHIPS:
WORKING FOR CLIENTS
Agency Defined
Classification of Agents
• Special Agent
• General Agent
• Universal Agent
3. UNIT 1: AGENCY CONCEPTS
Agent’s Scope of Authority and Liability
• Scope of Authority
• Actual Authority
• Express Authority
• Implied Authority
• Apparent or Ostensible Authority
• Liability for Contracts
• Liability: Authorized Acts
• Liability: Unauthorized Acts
• Liability for Agent’s Torts
• Real Estate Agency – Who is Liable for Misrepresentation?
4. UNIT 1: AGENCY CONCEPTS
Agent’s Fiduciary Duties and Responsibilities
• Common Law Fiduciary Duties
• Loyalty
• Obedience
• Disclosure
• Confidentiality
• Reasonable Care
• Accounting
5. UNIT 3: AGENCY DISCLOSURE
OBLIGATIONS
Additional Duties a Real Estate Agent Owes to the
Client
• Performance
• Handling Multiple Offers
• Competence and Expertise
• Handling Trust Funds
• Statutory Minimum Services to Clients
• Listing Agent
• Buyer’s Agent
• Duties an Intermediary Owes to Principals/Clients
6. UNIT 3: AGENCY DISCLOSURE
OBLIGATIONS
Client’s Obligations to their Agents
• Performance
• Seller’s Obligations
• Buyer’s Obligations
• Compensation for Performance
• Procuring Cause
• Protection Period Clause
• Suit for Commission
• Reimbursement of Expenditures
• Indemnification
7. UNIT 3: AGENCY DISCLOSURE
OBLIGATIONS
Disclosing Types of Representation – IABS
• First Substantive Communication
• How to Provide the IABS Form
• Mandated IABS Verbiage
• When to Present the IABS Statement
• Using the IABS Form
