A licensee is attempting to sell property under an exclusive agency listing. The entire block where the property is located has been condemned under the right of eminent domain. Which of the following is true of the licensee's agency relationship with the owner?

A general agency relationship allows an agent to conduct a broad range of business activities on behalf of the principal. However, since the property has been condemned, the specific authority related to selling that property no longer exists, and thus it cannot be classified as a general agency.

An agency with an interest typically refers to situations where the agent has a vested interest in the transaction, such as ownership or a financial stake. However, in cases of eminent domain, the owner loses their property rights, and the agent cannot claim a higher commission since the sale is not under the owner's control anymore.

A special agency is limited to specific tasks, such as selling a particular property. Since the property has been condemned, the special agency related to that property is terminated, and the agent cannot engage in any further actions regarding the current property.