Final answer:
A listing agreement creates a fiduciary relationship between a broker and the principal, commonly the seller. The broker is responsible for protecting the seller's interests during a property transaction.
Step-by-step explanation:
A listing agreement typically establishes a fiduciary relationship between a real estate broker and the principal, who is usually the seller of a property. In this context, the correct answer is c. broker and principal (seller). The broker is entrusted to act in the seller's best interests, which includes duties such as loyalty, confidentiality, and diligence. The broker must prioritize the seller's interests above their own and work towards achieving the best possible outcome for the seller, whether that means securing the best price for the property or ensuring a smooth transaction.