Question

which classification of agency applies to the agency relationship between a broker and the brokers sponsored sales agents? special agency general agency universal agency limited agency

Explanation:

• Special agency: Usually for a single - transaction or specific task, not the ongoing relationship between a broker and sponsored sales agents.
• General agency: In real - estate, a broker - sponsored sales agent relationship is a form of general agency. The sales agent acts on behalf of the broker in multiple, ongoing real - estate related activities (like showing properties, negotiating deals etc.) within the scope of their agency agreement.
• Universal agency: Implies almost unlimited authority (like power of attorney in some extreme cases), which is not the case here.
• Limited agency: Usually refers to a situation where an agent represents both parties in a transaction with disclosed limited authority, not the broker - sales agent relationship.

Answer:

B. General agency