An "express agency" is an agreement that is either said or written down. It is "mutually agreed to" by both parties. On the other hand, an "implied or ostensible agency" is not stated out loud or written down. Therefore, when a real estate agent is given a "listing," either "open" or "exclusive," it is an express agency.
These are questions that the above text answers:
1. What is an express agency in real estate?
2. How is an express agency agreement formed?
3. What is an implied or ostensible agency in real estate?
4. How is an implied or ostensible agency different from an express agency?
5. When is a real estate agent given a listing considered an express agency?
6. What are the two types of listings that can be considered an express agency?
7. How is an open listing considered an express agency?
8. How is an exclusive listing considered an express agency?
9. What is the difference between a written express agency agreement and a verbal express agency agreement?
10. What is required for an express agency agreement to be considered mutually agreed to by both parties?