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Express Agency (noun): is an agency relationship created and communicated between the principal and the agent in words via a written or oral agreement.
When a party decides to sell a property or multiple properties, they will typically work with a real estate agent or broker. An express agency is an agreement between the party and the selected agent. This agency is created when both the party and the agent express their intentions either in writing or in a spoken agreement.
Although both a written or oral agreement are acceptable ways to establish express agency, signing a written agreement is the safest and most legally viable option for the party and the agent. Signing a listing agreement or buyer’s agreement will ensure that the express agency is legally binding.
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Kristina Morales