Non-Exclusive Buyer Agency
Definition
A representation agreement allowing the buyer to work with multiple agents simultaneously, with only the agent who procures the property earning compensation.
Example
A buyer has non-exclusive agreements with three agents. Agent A finds and shows the buyer a home they purchase. Only Agent A earns the commission because she was the procuring cause.
Exam Tip
Compare with exclusive buyer agency. Non-exclusive means the buyer CAN work with multiple agents. The key question on exams: who gets paid? Answer: only the procuring cause agent.
Related Buyer Rep Terms
Buyer Broker Duties
The fiduciary obligations a buyer's agent owes to their client, including loyalty, obedience, disclosure, confidentiality, accounting, and reasonable care.
Buyer Representation Disclosure
A form that explains to the buyer the types of agency relationships available and the duties associated with each, required to be provided before substantive discussions begin.
Cooperative Compensation
The practice of a listing broker sharing commission with a buyer's broker, historically offered through the MLS but now prohibited from MLS display under the 2024 NAR settlement.
Buyer Consultation
An initial meeting between a buyer and agent to discuss the buyer's needs, explain agency relationships, review representation agreements, and establish expectations for the home-buying process.
Buyer Loyalty Obligation
The duty of a buyer's agent to act solely in the buyer's best interest, avoiding any conflicts of interest and putting the buyer's needs above the agent's own financial interests.
Termination of Buyer Agency Agreement
The legal ending of a buyer representation agreement, which can occur through expiration, mutual consent, breach, or specific termination provisions outlined in the contract.
Frequently Asked Questions
Test Your Buyer Rep Knowledge
Practice with exam-style questions to make sure you can apply Non-Exclusive Buyer Agency and other buyer rep concepts.