Which of the following is NOT a type of agency?

In the context of agency relationships in real estate, the term "independent agent" is indeed not recognized as a formal type of agency. Agency in real estate generally comprises three primary types: universal agents, general agents, and dual agents.

A universal agent represents a principal in all matters that can be delegated legally. This type of agency grants the agent broad authority to act on behalf of the client in a wide variety of matters.

A general agent has the authority to represent the principal in a specific business or trade – for example, a property manager is a general agent for the owner of a rental property, dealing with day-to-day operations.

A dual agent represents both the buyer and the seller in the same transaction, which can create unique challenges regarding loyalty and disclosure, but is an accepted practice in many states, including Massachusetts, provided proper disclosure to all parties is made.

In contrast, "independent agent" does not fit into the established categories of agency. While it can describe a licensee's status in the sense of working independently and not under a particular broker, it does not represent a relationship where one party is given authority to act on behalf of another, which is the core concept in defining various types of agency.