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" "hello there, my name is James ... James Bond, and I am ... ... a good Realtor." "In the Greater Vancouver area there are plenty of famous real estate agent at a certain time, at least by the famous name that is. In addition to the James Bond, and of course my own last name (" Frascati "is one of the most famous wines in Italy and the seventh hills of Rome), we have represented the caliber of Omar Sharif, Vera Cruz, F. Brown and Charlie Giuseppe Mussolini (You can spot him on the street, because he always wore a black T-shirt and had that certain martial ... how should I say goose step .... ..). Not to mention Yuri Gagarin (no relation to the astronaut), Carl Marx, Richard (Dick) Nixon, and - yes - Douglas MacArthur (Tough Guy with. ..) with his newfound friend John Yamamoto, a few more. And, true to the oriental tradition, characterizes this neck of the forest, we have at various times sporting Ding Dong, a King Kong, and T. Woo Sing Sing, a win - Wu Chi Wu (the initials WWW) and two Ho Chi Minh's. The longest name I have ever put on Guillermo Oreporemotichovea is (but his friends called him "Cy" ... no surprise) and most memorable slogan always assumed is, to my knowledge, from a real estate agent is an agent with the name of Bob Bye (since died, possibly of starvation ...), used to ads on the paper as the "" list with Bob Bye - The man with the tie "." Nevertheless, despite the diversity of the names and life, all the resources - especially in real estate - must refer to the axioms of the law of the agency when it comes to fulfilling their professional duties.

An agent is a person who is entitled to act on behalf of another person. The person for whom he acts is its main activity. Because the agent has the authority given to it by the contracting authority, he may obtain legal relationship between the client and a third party. For example, a buyer can order goods from a third party on behalf of his principal, so long as the purchase is made under the authority of the agent. In such a case, the principal must pay for the goods, because he actually addressed to the agents in a contract with the third party. The agent, on the other hand, is not party to the contract.

The relationship between an agent and his client, via contract. After the contract is the agent authority to do certain things in his place. In return for the service provided by the agent to his principal's name, the principal pays the agent a fee or commission. Assistants are not employees. The distinction between a representative and an employee is the degree of control and the type of remuneration. A basic agent says what he wants and leaves it to the agent, how about the result. An employer, on the other hand, says the staff what to do and how to do it. Moreover, the agent usually through a commission to be paid is that only if he in the results list. An employee, but expects to be remunerated for the number of hours he is regardless of whether the outcome will be. Estate agents are a special type of agent. A real estate agent acts on behalf of his principal, and almost always the seller, but also on behalf of the purchaser and may, in fact, on behalf of the seller and buyer in the same time, under certain restrictions. The contract stipulates that the terms and conditions of the authority confered by a seller of real estate agency is listing agreements. With the buyer, change the name of the buyer agency agreement.

Based on the wording of the contractual agreement between the client and the agent, the authority to act on confered the agent in one or more of the following categories. The representative of the authority to act may be express, implied, by the ratification, the usual and apparent power.

Express Authority

Express authority is the authority designated by the agent through the contract. The contract may be made in writing or orally. Brokers are usually express authority under a supply agreement in British Columbia and a list of all agreements, the land or an interest in land (including leases) must be made in writing to be enforceable in accordance with the Real Estate Services Act. It is understood that an agreement does not list a contract to sell or otherwise convey an interest in land, but an agreement by a party (the agent) agrees to the market with an interest in land and the other party (the Principal ) agrees to pay a commission upon completion.

Implied Authority

Although exact words are in the express authority, an agent may be in cases where the acts he wants to do, do not fall under these words. Sometimes it is possible to imply authority for the exact words. More specifically, an agent had authority to carry out an act, if the agent has no other choice than to do in order to fulfill its express authority. For example, a real estate agent can only authority for the sale of a certain piece of land or a house for his principal. The agents can order the property to prospective buyers during the absence of the owner. If the agent had no authority to do so both he and the prospective buyer would be unauthorized and therefore liable to the owner for damages. Because a property is necessary and incidental to, a sale, the agent can mean the Authority about its express authority, unless the contract provides otherwise.

Authority by Ratification

Sometimes an agency may be created retroactively. For example, if an agent in a contract on behalf of his principal, but the contract for the agent's express authority to authority, he may have in the past. This is done through the ratification. If the principal agrees, after the fact to be bound by the torts of his agent, he has ratified the treaty. The result is that the entities bound by the contract as if the agent was so authorized in the first place.

Usual Authority

Usual authority arises when an agent is designated by the contracting authority to act in a particular transaction and the transaction is determined by the "practice of the trade". In such a case the most important is that they have agreed to the agent, in line with these customs, as long as they are legally and appropriately and has not otherwise specified.

Apparent Authority

Under certain circumstances, in addition, an agent can deal with his to a third party, even if the agent was not authorized to do so. This arises when a client has in a way that it leads others to believe his agent is entitled to certain acts in his name. If the third party deals with the agents in the bona fide belief that the agent has authority to represent, it is apparent authority.

In general, any person of sound mind can be an agent because the agent is not necessary that the ability to contract, that the most important need (see my article entitled "Fundamentals of Contract Law" for more information). As a result, a child agent (ie an agent under the age of majority) can negotiate a binding contract between the client and a third party. The child is, but a party to the contract and may, therefore, its own inability to contract to the contract with his client.

Luigi Frascati

Luigi Frascati is a Real Estate Agent based in Vancouver, British Columbia. He has a bachelor's degree in Economics and maintains a weblog with the title Real Estate Chronicle at http://wwwrealestatechronicle.blogspot.com Below you will find the complete collection of his texts. Luigi is associated with the Sutton Group, the largest real estate companies in Canada, and is equipped with Sutton Realty Center in Burnaby, BC.

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