Agency
A New York licensee is working with a buyer but has no written agreement. The licensee's relationship with the buyer is best described as:
ABuyer's agent with full fiduciary duties
BA seller's subagent
CA prospective buyer relationship with limited duties✓ Correct
DA transaction broker
Explanation
Without a written buyer agency agreement, a licensee working with a buyer may be considered a prospective buyer relationship with limited duties, not a full fiduciary relationship. The agency relationship should be clearly established in writing.
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