When someone is "hiring an agent" to help them buy or sell a property, "agency law" is put into effect. This means that the agent is legally representing the "principal" (the person who hired them).
These are questions that the above text answers:
1. What is agency law in the context of real estate?
2. What is the role of an agent in a real estate transaction?
3. Who does an agent legally represent in a real estate transaction?
4. What is the term used to refer to the person who hires an agent in a real estate transaction?
5. What is the legal relationship between an agent and a principal in real estate?
6. What is the purpose of agency law in real estate?
7. What are the responsibilities of an agent in a real estate transaction?
8. What are the rights of a principal in a real estate transaction?
9. How does agency law affect the buying and selling of property?
10. What are the implications of agency law for real estate transactions?