Prescott Valley Arizona Real Estate Home Buyers Center.

Prescott Valley AZ Real Estate Brokerage

March 27th, 2007

Brokerage

When we refer to brokerage in the world of real estate, we are talking about bringing people together for the rent, purchase or exchange of real estate in exchange for a fee. When this type of service is performed, something called an “agency relationship” is created between the brokers and the people that they are representing.

Agency

When we refer to an agent, we are talking about a person who is representing or acting on the behalf of another person. This other person is called a principal.

Principals in real estate transactions are clients. And the relationship between agents and principals is called an agency.

Certain relationships that are created through agency are referred to as fiduciary, this means that there is an enormous amount of trust and confidence between the principal (the client) and the agent.

It is of the utmost of importance that the agent must act with high standards of care.

Entry Filed under: Prescott Arizona AZ Real Estate Market