Agency
A Nebraska buyer who works with a broker without signing a buyer representation agreement is most likely treated as a:
AClient with full fiduciary duties owed by the broker
BCustomer receiving limited ministerial services rather than fiduciary representation✓ Correct
CDual agency client automatically
DSub-agent of the seller's broker
Explanation
Without a buyer representation agreement, the buyer is typically treated as a customer rather than a client. The broker owes the customer honest dealing and fair treatment but not the full fiduciary duties of a client relationship.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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