Agency
What is a 'buyer representation agreement' and what does it accomplish?
AA contract between the buyer and seller establishing purchase terms
BA contract between a buyer and a broker authorizing the broker to represent the buyer's interests in finding and purchasing real property✓ Correct
CAn agreement between two buyers to purchase property jointly
DA contract between a buyer's broker and listing broker to cooperate
Explanation
A buyer representation agreement (buyer's agency agreement) is an employment contract between a buyer and a broker. It establishes the broker as the buyer's agent, defines the scope of the relationship, compensation terms, and duration. It creates fiduciary duties running from the broker to the buyer.
Related California Agency Questions
- A subagent owes fiduciary duties to:
- A broker who operates as a 'transaction broker' (non-agent facilitator) in California:
- A buyer's agent discovers that a home has significant foundation problems not disclosed by the seller. What is the agent's duty?
- When must a California listing agent confirm the agency relationship in writing?
- Under California law, all real estate salespersons must work under the supervision of:
- In a buyer's agency relationship, to whom does the agent owe fiduciary duties?
- In California, a real estate 'agent' as defined by the agency disclosure law refers to:
- What is the primary legal document that establishes the agency relationship between a seller and their real estate broker?
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