Final answer:
A buyer representation agreement typically establishes a special agency, where the agent represents the buyer for a specific transaction, such as purchasing property. Hence, option B is the correct answer.
Step-by-step explanation:
When Abby enters into a buyer representation agreement with a client, a unique agency relationship known as a special agency is established. This type of agency is characterized by its specificity, created with the singular purpose of representing the buyer in a defined real estate transaction. Unlike more expansive agency arrangements like general or universal agencies, a special agency confines the agent's authority solely to the particular act or business transaction outlined in the agreement.
In this scenario, the special agency empowers Abby, the real estate agent, with the specific task of representing the buyer throughout the property purchase process. This includes activities such as identifying properties that align with the buyer's criteria and skillfully negotiating the terms of the purchase.
The distinctive feature of a special agency lies in its limitations—it does not grant Abby overarching authority to make decisions on all matters for the buyer. Instead, its scope is narrow, focusing exclusively on the predefined objectives outlined in the buyer representation agreement. This targeted approach ensures that the agent's authority is expressly directed towards achieving the buyer's goals in the context of the real estate transaction at hand.