Brokerage and Agency
The following Course Outcome is assessed in the assignment:
MT361-5: Determine the agency relationship in a real estate scenario.
Introduction: What problems and/or opportunities are presented for a brokerage based on the type of agency? In this assignment, you explore the different agency relationships and how it impacts the agent-client relationship and the subsequent transactions.
Scenario: Sidney Lewenthal is the new owner of a brokerage in a state allowing either single agency, transactional agency, or dual agency relationships. Sidney is unsure about which type of agencies the new brokerage should allow his agents to practice under his license. In the past brokerage where Sidney worked, they often had some complaints that the agent did not inform them appropriately and some principals claimed that the price they were willing to pay was divulged to the seller.
Checklist:
Explain the agency problem at Sidneys past brokerage.
Determine how Sidney can address past concerns when selecting the type of agencies for the new brokerage.
Explain the duties and the responsibilities involved with adopting the agency types that you would choose for this new brokerage and why.
Provide a convincing argument for your choices of agency for the new brokerage.
Access the Assignment grading rubric located in the Course Resources area.
Submit your minimum 250-word response in an APA formatted and citation-styled paper with additional title and reference pages, to the Unit 7 Assignment Dropbox.
