Michigan Real Estate Salesperson Exam — All Questions
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1 questions
Property Management
A property manager signs an agreement to operate an apartment complex for the owner. In this relationship, the property manager is generally acting as the owner's:
- a.General agent✓
- b.Special agent
- c.Universal agent
- d.Gratuitous bailee
A property manager is typically a general agent, authorized to handle a range of ongoing tasks (leasing, maintenance, rent collection) for the owner. A special agent has authority for a single transaction, such as a listing broker selling one property.