When a buyer signs an exclusive buyer-agency agreement, what is the buyer's primary obligation under the agreement?
Correct Answer
A) To work exclusively with the designated brokerage during the agreement period
Under an exclusive buyer-agency agreement, the buyer agrees to work with only the designated brokerage for the stated period, similar to how a seller agrees to list with one broker under an exclusive listing.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
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A listing agreement creates an agency relationship between:
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