How is the brokerage engagement between a buyer and broker best described?

The relationship between a buyer and a broker is best described as a special or limited agency. In this context, the broker is authorized to act on behalf of the buyer for specific purposes related to the purchase of real estate. This type of agency is characterized by the broker representing the buyer's interests in the transaction, but the scope of the broker's authority is limited to the activities necessary to complete the purchase.

Under this arrangement, the broker does not have the broad authority that comes with a general agency, which would allow them to perform a wider range of acts on the principal's behalf. Instead, the special or limited agency focuses narrowly on the task of finding a property, negotiating offers, and facilitating the transaction. This relationship ensures that the broker works specifically to promote the buyer's interests while adhering to the legal and ethical obligations in real estate transactions.

Understanding the agency relationship is crucial for both buyers and brokers because it defines the rights and responsibilities of each party, ensuring clarity in the real estate process.