(1) A buyer or seller is not represented by a brokerage in a regulated real estate transaction unless the buyer or seller and the brokerage agree, in a separate written document, to such representation. No type of agency representation may be assumed by a brokerage, buyer or seller or created orally or by implication. (2) Types of brokerage relationships. The following types of brokerage relationships are recognized: (a) Nonagency; (b) Agency representation; (c) Limited dual agency representation; (d) Limited dual agency with assigned agents.
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