Which term refers to the relationship of a broker with a sponsoring broker?

The term that refers to the relationship of a broker with a sponsoring broker is "general agency." In real estate, a general agency relationship is established when a broker is authorized to act on behalf of another broker (the sponsoring broker) in a variety of business dealings. This relationship implies a fiduciary duty, meaning that the broker must act in the best interests of the sponsoring broker, managing tasks such as client representation, paperwork, negotiations, and other business functions related to real estate transactions.

In this context, the sponsor broker provides support and oversight for the broker's activities, which reinforces the significance of the general agency relationship. It allows for a broad range of tasks to be managed effectively under the authority granted by the sponsoring broker, creating a structure that fosters professionalism and compliance in real estate practices.

Other terms, such as a general lien, relate to the claim against property for debts, while general real estate tax pertains to municipal taxes levied on real property. The term government lot refers to specific parcels of land owned by the government, which do not apply to the relationship context between brokers.