According to the Real Estate Agents Act, who is considered an agent?

In the context of the Real Estate Agents Act, the designation of an agent specifically refers to individuals who are actively engaged in trading real estate on behalf of clients and who receive compensation for that service. This includes actions such as listing properties, negotiating sales, and representing clients in transactions. The core aspect is the element of compensation, which signifies that the individual is acting in a professional capacity and is legally recognized as having a fiduciary duty to their clients.

This definition is crucial because it outlines the obligations and responsibilities agents have towards their clients, which include loyalty, full disclosure, and exercising reasonable care and skill in their professional duties. Unlike individuals trading without compensation or simply giving advice, a licensed real estate agent operates within a regulatory framework that ensures they meet certain standards of professionalism and accountability. Therefore, the emphasis on compensation is what distinctly classifies a person as an agent under the Act.

Other options mention activities that do not constitute acting as an agent under this particular legislation, such as trading without compensation or providing mere advice, which do not involve the legal and professional obligations that come with being recognized as an agent in real estate.