Agency
A Texas buyer hires an agent to find commercial investment property. The agency relationship they agree to is an exclusive buyer representation agreement. This means:
AThe agent represents all buyers in the market
BThe buyer agrees to work exclusively with this agent for the specified property type and area, and the agent owes full fiduciary duties to the buyer✓ Correct
CThe buyer cannot look at properties without the agent
DThe agent can represent other buyers for the same type of property
Explanation
An exclusive buyer representation agreement creates an exclusive agency between the buyer and agent. The buyer agrees to work only with this agent for the specified period/area, and the agent owes full fiduciary duties to the buyer client.
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