Agency
A buyer who has not signed a buyer's representation agreement is typically considered a:
AClient with full fiduciary representation
BCustomer, receiving competent and honest service but not full fiduciary representation✓ Correct
CPrincipal with implied agency rights
DSub-agent of the listing broker
Explanation
Without a formal buyer's representation agreement, a buyer is generally treated as a customer (not a client), meaning the licensee must deal honestly and fairly but does not owe full fiduciary duties.
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