Final answer:
Agents represent buyers or sellers on a more permanent basis than brokers, with ongoing agreements rather than single transactions. They handle multiple aspects of the sales process and decision-making for their clients over the long term.
Step-by-step explanation:
Agents represent buyers or sellers on a more permanent basis than brokers. Unlike brokers who are involved in single, short-term transactions, agents usually have ongoing agreements with their clients. Agents act on behalf of their clients and have the authority to make decisions that bind the client within the scope of their agreement.
For instance, a real estate agent may represent a homeowner looking to sell their house. The agent would handle many aspects of the sales process, from listing the house to negotiating with potential buyers on behalf of the homeowner. Similarly, a literary agent would represent an author, handling book deals and rights negotiations with publishers over a long period rather than just a single transaction.
Brokers, on the other hand, typically facilitate one-time transactions between buyers and sellers, such as in stock trading or real estate transactions without the continuous relationship that agents maintain with their clients.