Which type of agent acts with explicit permission from the principal to conduct transactions on their behalf?

The type of agent that acts with explicit permission from the principal to conduct transactions on their behalf is indeed a Special Agent. A Special Agent is authorized to perform specific tasks or transactions on behalf of the principal, generally within a limited scope. This designation implies that the agent's authority is not broad or general but rather targeted towards particular actions, such as selling a specific piece of property or procuring a buyer for that property.

In contrast, a General Agent has broader authority, allowing them to perform a variety of tasks for the principal, which can include ongoing business dealings or managing overall operations. The General Agent acts on behalf of the principal in a wide range of matters, often over an extended period.

A Universal Agent, on the other hand, has extensive authority and can represent the principal in virtually all business matters, which is not limited to specific transactions, making this role much more comprehensive than that of a Special Agent.

Lastly, an Implied Agent arises from the actions or circumstances that suggest a relationship, even if no explicit agreement or permission has been made. This contrasts with a Special Agent, who carries out predefined tasks with clear permission.

Understanding these distinctions is essential in real estate as it determines the scope of authority and responsibilities that agents hold in their dealings