Agent

Business / Taxes / Agent: An agent is a person who acts on behalf of another person or institution in a transaction. For example, when you direct your stockbroker to buy or sell shares in your account, he or she is acting as your agent in the trade. Agents work for either a set fee or a commission based on the size of the transaction and the type of product, or sometimes a combination of fee and commission. Depending on the work a particular agent does, he or she may need to be certified, licensed, or registered by industry bodies or government regulators. For instance, insurance agents must be licensed in the state where they do business, and stockbrokers must pass licensing exams and be registered with NASD. In a real estate transaction, a real estate agent represents the seller. That person may also be called a real estate broker or a Realtor if he or she is a member of the National Association of Realtors. A buyer may be represented by a buyer’s agent.

Other Words for Agent

Agent Noun Synonyms: representative, intermediary, go-between, proxy, emissary, delegate, spokesman, spokeswoman, spokesperson, deputy, substitute, surrogate, advocate, emissary, legate, envoy, factor
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Principal-Agent Relationship

Business / Finance / Principal-Agent Relationship: Occurs when one person, an agent, acts on the behalf of another person, the principal. MORE

Universal Agent

Business / Real Estate / Universal Agent: A person empowered to do anything the principal could do personally. The universal agents authority to act on behalf of the principal is virtually unlimited. MORE

General Agent

Business / Real Estate / General Agent: One authorized by a principal to perform any and all acts associated with the continued operation of a particular job or a certain business of the principal. The essential feature of a general agency MORE

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