Final answer:
Agency relationships can be established through listing agreements, buyer representation agreements, and property management agreements.
Step-by-step explanation:
Agency relationships are established through a variety of contracts in the real estate industry. The three contracts mentioned in the options can all establish an agency relationship. Let's break them down:
- Listing agreement: This is a contract between a seller and a real estate agent, where the agent is given the authority to represent and market the property for sale. The agent acts as the seller's representative in finding potential buyers and negotiating the terms of the sale.
- Buyer representation agreement: This is a contract between a buyer and a real estate agent, where the agent is given the authority to represent and assist the buyer in finding and purchasing a property. The agent acts as the buyer's representative in negotiating offers and guiding them through the transaction process.
- Property management agreement: This is a contract between a property owner and a property management company or individual, where the management company/individual is given the authority to handle the day-to-day operations of the property. While it may not directly involve buying or selling, this agreement establishes an agency relationship as the manager acts as the agent for the property owner.
Therefore, the correct answer is d) All of the above.