In an exclusive agency buyer agreement, the licensee is entitled to compensation if anyone other than the buyer locates a suitable property.

Study for the Burk Baker National Test. Use flashcards and multiple choice questions with hints and explanations to prepare effectively. Get ready for your exam!

Multiple Choice

In an exclusive agency buyer agreement, the licensee is entitled to compensation if anyone other than the buyer locates a suitable property.

Explanation:
In an exclusive agency buyer agreement, the licensee earns a commission when someone other than the buyer locates a suitable property. This setup lets the buyer pursue properties on their own without owing a fee, while still ensuring the broker is compensated if a third party—such as another broker or the seller’s agent—brings a suitable property to the buyer. So, the trigger for payment is not the buyer finding the property, but any finder other than the buyer. The other scenarios would either make the buyer responsible for payment or limit the trigger to a single party, which doesn’t fit how an exclusive agency arrangement is designed.

In an exclusive agency buyer agreement, the licensee earns a commission when someone other than the buyer locates a suitable property. This setup lets the buyer pursue properties on their own without owing a fee, while still ensuring the broker is compensated if a third party—such as another broker or the seller’s agent—brings a suitable property to the buyer. So, the trigger for payment is not the buyer finding the property, but any finder other than the buyer. The other scenarios would either make the buyer responsible for payment or limit the trigger to a single party, which doesn’t fit how an exclusive agency arrangement is designed.

Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy