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General principles of agency (Salesperson 13%; Broker 11%)

A. Agency and non-agency relationships

1. Types of agents and agencies

2. Other brokerage relationships (nonagents)

a) Transactional

b) Facilitators

B. Agentโ€™s duties to clients

1. Fiduciary responsibilities

2. Traditional agency duties (COALD)

3. Powers of attorney and other delegation of authority

C. Creation of agency and non-agency agreements; disclosure of conflict of interest

1. Agency and agency agreements

a) Key elements of different types of listing contracts

b) Key elements of buyer brokerage/tenant representation contracts

2. Disclosure when acting as principal or other conflict of interest

D. Responsibilities of agent to customers and third parties, including disclosure, honesty, integrity, accounting for money

ย 3. Termination by force of law

4. Destruction of property/death of principal

5. Mutual agreement

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