Special Agent In Real Estate
Definition of "Special agent in real estate"
A special agent in real estate is a real estate agent hired to do a specific task or job, as opposed to a general agent, who is a real estate agent who can do any task he or she is assigned to. A special real estate agent is generally only employed to do a specific task, after which they are no longer employed by the client.
A special agent in real estate differs from a general agent. The primary difference between a special agent and a general agent is their responsibilities. 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’s look at an example of a special agent in real estate.
Example of a special agent in real estate
To better understand the definition of a special agent in real estate, let’s take the case of a woman who we will call Denise. Denise’s mother recently passed away, leaving Denise a sizeable inheritance that included a beautiful victorian-style house.
The house is old but beautiful; its wrap-around veranda, steep roof, and bright white siding are in stark contrast to the more modern structures that stand adjacent in its upscale neighborhood. However, Denise lives in an apartment in the city with her boyfriend and golden retriever, Gus. She has a life and job, and she doesn’t want to move to the suburbs, nor does she want to continue paying property tax on the house. So what is Denise to do?
What Denise needs in this situation is a special real estate agent. This special real estate agent will take care of all the steps that will be necessary in order for her to sell her mother’s house. Once everything has been taken care of by this special real estate agent, the business engagement between Denise and her agent will be complete, as the agent will have completed his/her task as her special agent.
Popular Real Estate Terms
Restitution or compensation for harm or wrong done. ...
Insurance or maintenance policy taken out by a buyer of real or personal property. ...
Investments you can hold on to all your life or sell for a profit when they have appreciated in value. Real assets are those investments you can put hands on. Real property includes real ...
One based on the whole body of the law. A lawful right is being exercised. ...
A rule that the price of a house should not exceed about 2 to 2.5 times your family's gross annual earnings. Example : If annual gross income is $70,000, the highest price one could afford ...
Agreement between the lessee and lessor specifying the lessee's rights to use the leased property for a given time at a specified rental payment. As rental payments are made, rent expense ...
Residing in a structure that the individual owns. ...
Land expansion resembling a star. The starts center is the city, and major thoroughfares going away from the city are depicted. ...
Same as term yield: The income earned on an investment, typically stated as a percentage of the market price ...
Comments for Special Agent In Real Estate
What is the difference between a general agent and special agent?
Apr 22, 2020 10:43:27Hey, Karina! A special agent is an agent hired to perform specific duties for customers. The special agents can only assist the customer in the specific job that they have been appointed for. For example, a listing agent who is hired to sell a client’s home is an example of a special agent, and the agent can’t help the client with buying a home if requested. A general agent can perform all the duties and tasks for which the client has appointed him, regarding real estate. We have a useful FAQ: What is a general agent? that explains the term and uses relevant examples. Thank you for your question, hope this was helpful.
Apr 24, 2020 08:53:04Have a question or comment?
We're here to help.