Agency
An exclusive buyer agency agreement obligates the buyer to:
APurchase any property shown to them
BWork exclusively with that agent for a specified period when buying property✓ Correct
CPay a higher commission if they find the property themselves
DUse only properties listed on the MLS
Explanation
An exclusive buyer agency agreement requires the buyer to work exclusively with that agent for the specified term when purchasing property, and typically obligates the buyer to pay the agreed-upon compensation.
Related Alabama Agency Questions
- What is the primary purpose of an exclusive buyer agency agreement in Alabama?
- Which of the following best describes the concept of 'ratification' in agency law?
- An agent who works for a real estate firm that has a listing is representing a buyer interested in that listing. This creates what type of agency situation?
- In Alabama, a written brokerage agreement that creates an agency relationship between a broker and seller is called a:
- An agency relationship may be terminated by all of the following EXCEPT:
- The term 'procuring cause' determines which broker earned the commission by identifying:
- In Alabama, which document formally establishes a buyer agency relationship?
- An agent accidentally creates an agency through their conduct without a written agreement. This is called:
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