What types of agency relationships are recognized in South Dakota?

In South Dakota, the types of agency relationships recognized include seller agency, buyer agency, and limited agency, making this the most accurate choice.

Seller agency refers to a situation where the agent represents the seller's interests exclusively, helping them in the sale of their property. Buyer agency operates similarly, but the agent advocates for the buyer throughout the purchasing process, focusing on their specific needs and desires.

Limited agency is a unique arrangement that arises when an agent represents both the buyer and the seller in a single transaction, necessitating explicit consent from both parties. This type of agency is particularly important because it requires transparency and disclosures to avoid conflicts of interest, ensuring that both parties are aware of the agent's dual role.

While sole agency, dual agency, and exclusive/non-exclusive agency may be terms used in other contexts or states, they do not appropriately define the recognized agency relationships specific to South Dakota real estate practice. Instead, the terms used in option C align with state law and the typical practices in real estate transactions within the state.