Agency
A NC broker enters into an Exclusive Buyer Agency Agreement. Under this agreement, the broker is entitled to compensation if:
AThe buyer purchases any property during the agreement period✓ Correct
BOnly if the buyer purchases through the same firm's listing
COnly if the broker personally shows the property that the buyer purchases
DThe buyer decides not to purchase at all
Explanation
An exclusive buyer agency agreement typically entitles the broker to compensation if the buyer purchases any property (in the defined geographic area/type) during the agreement period, regardless of who found the property or how the buyer found it.
Related North Carolina Agency Questions
- Which NC disclosure form must sellers of most residential property complete?
- In North Carolina, which type of agency is prohibited?
- In NC, when the listing agreement expires, the broker's agency relationship with the seller:
- In NC, a 'limited service agreement' with a seller allows the broker to:
- A dual agent in North Carolina must obtain informed written consent from:
- In NC, 'subagency' in a real estate transaction traditionally means:
- When a North Carolina broker represents the seller, they must disclose to buyers:
- An agent who discloses their client's minimum acceptable price to the other party without authorization has violated the duty of:
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