A universal agent in real estate is an agent who can act on behalf of a principal, with full power. The universal agent can, in a sense, act like they ‘are’ the principal. They can even sign legal documents for the principal and purchase and/or sell property for them.Click to see full answer. Keeping this in view, what is an example of a universal agent?A universal agent is a person authorized to transact all the business of his/ her principal of every kind. S/he authorized to perform all acts or duties which his/her principal is empowered to perform. Usually universal agents are appointed by a power of attorney. A principal can have but one universal agent.Also, what is the most common type of agency in a real estate brokerage? Special Agent: handles one transaction for one seller of one property. This is the most common type of real estate representation. The broker can represent several sellers on one house each at one time but never the seller and buyer for a transaction. In respect to this, what is an example of a general agent in real estate? For example, A property manager, acts as a general agent if authorized to show and rent apartments, supervise maintenance, do the bookkeeping, etc. Special Agent – is authorized by the principal to handle only one specific business transaction or to perform only a specific act.Is a real estate agent a special agent?In real estate, a special agent is an agent hired to perform a specific duty for a client (also known as a principal). The real estate agent’s authority is limited to the specific job for which they are hired.
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