Contracts
What is a buyer's representation agreement and what does it establish?
AAn agreement that the buyer will use only one property
BA written contract establishing agency, fiduciary duties, compensation, and exclusivity between a buyer and their agent✓ Correct
CA document buyers sign at open houses
DAn optional agreement with no legal significance
Explanation
A buyer representation agreement is a written contract that establishes the agency relationship, specifies fiduciary duties owed to the buyer, defines compensation terms, establishes the search area and timeframe, and may include exclusivity provisions.
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