A broker, acting as a property manager, would be what type of agent?

Prepare for the Arizona School of Real Estate and Business exam. Hone your skills with multiple-choice questions, each offering detailed explanations and insights to enhance your learning experience. Ace your exam!

A broker acting as a property manager is classified as a general agent. This is because a general agent has a broader authority to perform a variety of tasks on behalf of the principal (in this case, the property owner) over a continuous period. The role of a property manager involves handling various responsibilities such as collecting rents, managing day-to-day operations of the property, and making decisions related to the property, all of which fall within the scope of general agency.

In contrast, a special agent is typically appointed for a specific transaction or limited purpose, such as a realtor representing a client in a single property sale. Implied agency arises unintentionally through the actions of the parties involved rather than through explicit agreement, while ostensible agency occurs when a principal's actions lead a third party to believe that an agent has authority, even if the agent does not actually possess that authority. None of these other classifications apply to the ongoing and diverse responsibilities of a property manager.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy