The most common agency relationship that a licensee has with the principal is as a:

A licensee commonly operates as a special agent when representing a principal in a real estate transaction. This relationship is characterized by the specific authority granted to the agent to perform certain tasks on behalf of the principal, such as facilitating the sale or rental of a property. The special agent acts within the confines of this limited authority, meaning their responsibilities are defined and focused on the particular transaction at hand.

In contrast, a general agent would have broader authority to act on behalf of the principal in a wider range of matters, which is not typically the case in real estate transactions. For instance, general agents might handle ongoing business operations rather than specific, singular transactions.

The term "secret agent" does not apply in a legal or formal context within real estate; this concept may suggest clandestine operations, which is not aligned with the ethical standards expected in the industry. Finally, "de facto agent" refers to a situation where an individual behaves as an agent without formal authority. While this can occur, it does not represent the standard practice recognized in the context of agency relationships in real estate.

Therefore, given the scope of authority and the nature of the relationship, serving as a special agent is the predominant agency relationship a licensee establishes with the principal in real estate