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Which of the following is not true regarding the residential buyer/tenant representation agreement?

A) The residential buyer/tenant representation agreement is a legally binding contract.
B) It typically outlines the responsibilities of the real estate agent and the buyer/tenant.
C) It is a document that can only be used for commercial real estate transactions.
D) The agreement may specify the duration of the agency relationship.

1 Answer

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Final answer:

The correct answer is option C) It is a document that can only be used for commercial real estate transactions.

Step-by-step explanation:

The correct answer is option C) It is a document that can only be used for commercial real estate transactions.

The residential buyer/tenant representation agreement is a legally binding contract between a real estate agent and a buyer/tenant. It outlines the responsibilities and obligations of both parties during the transaction.

The agreement may specify the duration of the agency relationship, which can vary depending on the terms negotiated by both parties.

However, option C) is not true because the residential buyer/tenant representation agreement can be used for both residential and commercial real estate transactions. It is not limited to commercial properties only.

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