When an auctioneer acts on behalf of a property owner under a contract, what role does the auctioneer assume?

When an auctioneer acts on behalf of a property owner under a contract, they assume the role of an agent. In this context, an agent is someone who is authorized to represent another party, known as the principal. The auctioneer carries out specific tasks to conduct the auction, all while working towards the best interests of the property owner.

This relationship is foundational in real estate and auction dealings, as the agent has a fiduciary duty to the principal, meaning they are legally bound to act with loyalty and care. The contract between the auctioneer and the property owner outlines the scope of authority and responsibilities, further solidifying the agent's role in the transaction process.

While other roles, such as broker or consultant, involve different responsibilities or functions in real estate transactions, the auctioneer's primary duty in this scenario is to facilitate the sale as an agent, representing the owner's interests throughout the auction process.