Which party in a real estate transaction typically acts as the agent of the principal?

In a real estate transaction, the party that acts as the agent of the principal is the mandantary. This individual is appointed to act on behalf of the principal, who entrusts them with certain powers and responsibilities in the transaction. The mandantary, or agent, is responsible for representing the interests of the principal and executing tasks as directed, making decisions that align with the principal's wishes.

In the context of real estate, this relationship is crucial because it establishes a fiduciary duty, whereby the mandantary must act in the best interest of the principal. This could involve negotiating terms, handling offers, or ensuring that the transaction adheres to the necessary legal protocols.

The vendor refers to the seller in a transaction, and the vendee refers to the buyer. Both of these parties have their own interests and do not act as agents. A notary, while involved in the legal process of witnessing and authenticating documents, does not serve as an agent in the context of the principal-agent relationship seen in real estate transactions. Therefore, the mandantary is accurately identified as the party that acts as the agent of the principal, facilitating the transaction and ensuring the principal's objectives are met.