If a buyer finds a property on their own after signing a buyer representation agreement, they:
Question & Answer
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Owe nothing to their agent
A is incorrect because the buyer representation agreement creates a binding contract. Finding a property independently doesn't automatically negate the compensation obligations specified in the agreement.
May still owe their agent compensation depending on the agreement terms
Must use the listing agent instead
C is incorrect because there's no requirement for the buyer to switch agents. The original buyer representation agreement remains in effect unless properly terminated according to its terms.
Can cancel the agreement without notice
D is incorrect because agreements generally cannot be canceled without notice or penalty. Proper termination procedures must be followed, which typically require written notice and may involve compensation for the agent's efforts.
Why is this correct?
B is correct because buyer representation agreements are contracts that specify compensation terms, which typically apply to any property purchased during the agreement period, regardless of who finds it. The specific terms of the agreement determine compensation obligations.
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