What do special, general, and universal agents all have in common?

Special, general, and universal agents all share the commonality of beginning relationships with a Principal. This implies that each type of agent operates under a principal-agent relationship where the agent is authorized to act on behalf of the principal to perform specific functions or responsibilities.

In the case of special agents, their authority is limited to specific tasks or transactions, such as a real estate agent representing a seller in a property sale. General agents have broader authority and can handle a range of tasks for a principal, like a property manager overseeing an entire rental property. Universal agents possess the widest authority, being able to act on behalf of a principal in virtually all matters where the principal can act, such as in a power of attorney situation.

This foundational relationship establishes the legal and fiduciary obligations that agents have toward their principals, regardless of the extent of their authority. Therefore, recognizing that all these agents stem from a principal relationship helps in understanding the nature and scope of their respective roles in real estate and beyond.

The other options do not accurately reflect characteristics that all three types of agents share. For example, not all agents need to be certified by the state (which specifically applies more to certain professions like real estate agents), they do not provide legal advice (as that