Agency
A Tennessee affiliate broker is working with a buyer but has no buyer representation agreement. The broker is most likely acting as:
AA buyer's agent
BA subagent of the seller✓ Correct
CA transactional broker
DA designated agent
Explanation
Without a buyer representation agreement, an affiliate broker working with a buyer is typically a subagent of the seller (the listing broker's principal). This means the broker's duties run to the seller, not the buyer.
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