A buyer representation agreement typically has a:
Correct Answer
B) Defined term or expiration date
Buyer representation agreements should have a defined term or expiration date. This protects both parties and ensures the relationship has clear boundaries. The specific duration is negotiable between the buyer and agent.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
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A listing agreement creates an agency relationship between:
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