Is an agent held personally liable for contracts negotiated on behalf of a principal?
An “Agent” is held personally liable for acts in a real estate transaction. Now when you refer to the agent you must understand that the Agency relationship is with the Brokerage who has establised a fiduciary relationship with his client. A fudiciary relationship dictates that,”One who acts for another acts for himself.” It is the brokersge who is personally responsible.Your representative may additionally be held responsible for negligent or fradulent acts and disciplined by their state real estate commissions or local boards or their brokerage. The agency relationship is with the Brokerage.
