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Agency relationship: Traditionally, the Real Estate Broker provides a conventional full-service, commission-based brokerage relationship under a
signed listing agreement with a seller or "buyer representation" agreement
with a buyer, thus creating under common law in most states an agency
relationship with fiduciary obligations. The seller or buyer is then a
client of the broker. Some states also have statutes which define and
control the nature of the representation.
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Also See:
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