Final answer:
A single agency agreement creates a relationship between a buyer and a single licensee, not the brokerage and is the correct answer to the question.
Step-by-step explanation:
The type of agency agreement that creates a relationship between a buyer and a single licensee, rather than between a buyer and a brokerage, is d) Single agency. In a single agency agreement, a real estate agent or broker represents either the buyer or the seller, but not both in the same transaction. This is different from exclusive agency, where an agent represents a seller and is the only agent authorized to sell the property, and from dual agency, where an agent represents both the buyer and the seller in a transaction. An open listing allows the seller to employ any number of brokers as agents.