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Kansas licensee Patricia has been working with buyer clients exclusively as a transaction broker for several months. Her clients now want to convert the relationship to a formal buyer agency. Under BRRETA, what is required to change the brokerage relationship from transaction broker to buyer agency?

Correct Answer

C) A written buyer agency agreement signed by both Patricia's broker and the buyers is required to establish the agency relationship

Under K.S.A. 58-30,106 and BRRETA, a buyer agency relationship in Kansas must be established through a written agreement. The written buyer agency agreement, executed by the licensed broker (or licensee on behalf of the broker) and the buyers, is what creates and defines the agency relationship, its scope, and its terms. Without a written agreement, the default transaction broker status applies.

Answer Options
A
A verbal agreement between Patricia and the buyers, confirmed by email, is sufficient to establish buyer agency
B
Patricia must notify KREC of the relationship change before the new agency relationship becomes effective
C
A written buyer agency agreement signed by both Patricia's broker and the buyers is required to establish the agency relationship
D
The buyers must first terminate the transaction broker relationship in writing before a new agency agreement can be signed

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Related Topics & Key Terms

Key Terms:

brretabuyer_agencywritten_agreementrelationship_changetransaction_broker

Related Concepts

The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.

The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.

In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.

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