Law of Agency

The Law of Agency course provides a comprehensive overview of how real estate agents represent clients in Texas. Students will learn the legal duties, fiduciary responsibilities, and ethical obligations that arise when acting as an agent. The course emphasizes the importance of trust, disclosure, and loyalty in client relationships, while also covering the Texas Real Estate Commission (TREC) rules that govern agency practices. Key Topics Covered: Definition of Agency: What it means to be an agent and the legal foundation of agency law. Types of Agency Relationships: Seller's agent, buyer's agent, intermediary, and subagency. Fiduciary Duties: Loyalty, confidentiality, disclosure, obedience, accounting, and reasonable care. Creation & Termination of Agency: How agency relationships are formed and legally ended. Intermediary Relationships in Texas: Special rules for representing both parties in a transaction. Disclosure Requirements: When and how to provide the Information About Brokerage Services (IABS) form. Agency in Practice: Real-world scenarios, ethical dilemmas, and compliance with TREC regulations. Learning Outcomes: By the end of this course, students will be able to: Identify and explain different types of agency relationships. Apply fiduciary duties to real-world real estate transactions. Navigate intermediary relationships in compliance with Texas law. Recognize the importance of disclosure and transparency in client representation. Demonstrate ethical decision-making in complex agency scenarios.