easy · National Real Estate Exam agency
A 'Special Agency' relationship, such as a typical listing agreement, usually ends when the transaction closes. A 'General Agency' relationship, such as property management, usually:
- Cannot be terminated by revocation if the manager is doing a good job.
- Is terminated by the death of the property manager's salesperson on file.
- Ends automatically after the very first lease on the property has been signed by a tenant.
- Continues until terminated by notice or by the terms of the management contract.
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