Final answer:
A buyer representation agreement creates an express agency, explicitly outlining the relationship where a real estate agent acts on behalf of a buyer.
Step-by-step explanation:
A buyer representation agreement establishes an express agency between a buyer and a real estate agent. In such an agreement, the buyer explicitly authorizes the agent to act on their behalf in searching for a property and negotiating a real estate transaction. The agent, in return, owes the buyer fiduciary duties including loyalty, confidentiality, and the obligation to act in the buyer's best interest. While other types of agency relationships can exist in real estate, such as implied agency or general agency, the buyer representation agreement is a clear and deliberate contract that specifies the roles and responsibilities of both parties, thereby creating an express agency.