Agency
A buyer who works with multiple brokers looking at different properties simultaneously but has not signed a buyer representation agreement with any of them most likely has which type of relationship with each broker?
AAn exclusive buyer agency relationship with the last broker they worked with
BA non-exclusive, open buyer agency relationship (or no formal agency relationship)✓ Correct
CA designated agency with each broker's managing broker
DA dual agency relationship with all brokers simultaneously
Explanation
Without a signed buyer representation agreement, a buyer working with multiple brokers likely has no formal agency relationship or a non-exclusive open agency relationship with each broker. Legally, without a written agreement, the buyer may not have the full benefit of fiduciary representation.
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