What does universal agency grant an agent?

Universal agency grants an agent the power to act in all business matters for the principal. This type of agency relationship provides the agent with broad authority, allowing them to represent the principal in nearly every aspect of their affairs. This means that the agent can make decisions and take actions that encompass a wide range of activities, beyond just real estate transactions, effectively acting as a general representative for the principal’s interests.

In contrast, limited authority in specific transactions signifies a more restricted role, where the agent's powers are confined to certain duties or specific tasks. Similarly, authority to negotiate leases only specifies the agent’s role to a single type of transaction, while the ability to act only in real estate purchases further limits the agent's authority exclusively to one area. These limitations do not align with the comprehensive powers granted under universal agency.