Agency
Under Oklahoma law, a buyer's broker agreement creates what type of agency relationship?
AA general agency where the agent may conduct all business for the buyer
BA special agency limited to locating and purchasing a specific property✓ Correct
CA universal agency giving the agent authority for all matters
DA subagency relationship with the seller
Explanation
A buyer's broker agreement creates a special agency, limiting the agent's authority to assisting the buyer in locating and purchasing real property. The agent cannot bind the buyer to contracts or take other actions outside this scope.
Related Oklahoma Agency Questions
- An Oklahoma buyer's agent discovers that the property their buyer wants to purchase is being sold by the agent's own family member, creating a personal interest. The agent should:
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- An Oklahoma seller refuses to accept a full-price offer because the buyer is of a different religion. The seller's listing agent should:
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- An Oklahoma buyer's representative agreement typically includes:
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