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Agency authorityĪn agency authority is a binding agreement between a client (usually a seller or residential rental provider) and estate agency, for the sale, lease or management of real estate. For example, an agent’s representative can act as a salesperson or property manager, but cannot operate an estate agency business. Agent’s representativeĪn agent’s representative is employed by or acts for a licensed estate agent, and with written authority can perform any of the legal functions of that estate agent. In the case of a corporation, the principal agent is called the officer in effective control. The principal agent is the agent in control of an estate agency business including sole trading enterprise, partnership or corporation. take reasonable steps to ensure that estate agents, agents’ representatives and other employees comply with the law.establish procedures to ensure the agency’s ongoing compliance with the law and good agency practice, and monitor the agency to ensure these procedures are followed.control and supervise the agency business, including any branch offices.regularly and substantially attend and be in charge at the principal office.The principal agent and the officer in effective control of a corporation must: The officer in effective control (OIEC) is the principal agent in control of the estate agency business of a corporation. be employed by a licensed estate agent as an agent’s representative.collect rents and manage rental properties.negotiate the sale or lease of properties and businesses.

provide market appraisals of properties and businesses for clients.act on behalf of buyers when engaged as a buyers agent or advocate to negotiate the purchase of property.act on behalf of owners and residential rental providers to arrange the sale or lease of property including houses, buildings, factories, shops, farms, land and businesses.