Agency
A Wyoming buyer hires an agent to find them a home. Without signing a formal buyer agency agreement, the buyer's agent has:
AFull fiduciary duties automatically
BPotentially an implied agency relationship, which may not provide the same protections as a formal written agreement✓ Correct
CNo duties to the buyer whatsoever
DOnly the duty to find properties the buyer can afford
Explanation
Agency can be created by conduct (implied agency) even without a written agreement. However, without a formal written buyer agency agreement, the scope of duties, compensation terms, and duration of the relationship are unclear.
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