agency
special agent
A special agent is authorized to perform one specific act or transaction for a principal and cannot bind the principal to contracts beyond that limited authority. Most real estate brokers are special agents under a listing or buyer agreement, since they are hired to find a buyer or property, not to sign contracts. A power of attorney for a single closing also creates special agency.
- Exam tip
- Know the three levels: universal agent (all matters), general agent (a range of matters, like a property manager), special agent (one task, like a listing broker).
- Example
- A homeowner signs a listing agreement hiring a broker to market and find a buyer for her house; the broker is a special agent and cannot sign the sales contract for her.
Related terms & state variants
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Last verified: 2026-10-23