What type of document would clarify rights and duties between a real estate agent and their client?

An agency agreement is the document that specifically outlines the rights and duties between a real estate agent and their client. This agreement is fundamental in establishing the professional relationship and responsibilities that the agent has towards the client. It serves to clarify important aspects such as the scope of the agent's authority, the obligations to act in the client's best interest, and the terms under which the agent is to be compensated.

This structured relationship is crucial in real estate, as it determines how the agent will represent the client in transactions, ensuring that both parties have a clear understanding of their respective roles. The agency agreement may also cover confidentiality, disclosure requirements, and the duration of the agent's services.

In contrast, a rental agreement pertains to the terms under which a property can be leased between a landlord and a tenant, whereas a purchase agreement details the terms of a real estate transaction including price and conditions for a buyer and seller. A valuation report provides an estimate of a property's market value but does not establish a relationship or set duties between an agent and client. Therefore, the agency agreement is essential in defining the framework for the agent-client relationship.