Agency
A Texas buyer's representative agreement creates an exclusive agency relationship. This means:
AOnly the agent's broker can earn a commission from the buyer's purchase
BThe buyer agrees to work exclusively with that agent and compensate them if a purchase is made, subject to the agreement's terms✓ Correct
CThe agent can represent other buyers in the same neighborhood
DThe buyer cannot purchase a property not listed by the agent's brokerage
Explanation
An exclusive buyer representation agreement binds the buyer to work with that specific agent (and brokerage) for the agreed period and property type. The buyer agrees to compensate the agent if a purchase is made, even if the buyer finds the property without the agent's direct help, subject to the agreement's terms.
Related Texas Agency Questions
- Texas law requires a buyer's representation agreement to specify the:
- Under Texas law, when a broker represents both the buyer and the seller in the same transaction with written consent from both parties, this relationship is called:
- A Texas listing agent's fiduciary duties to the seller include all of the following EXCEPT:
- Which Texas TREC form is used to disclose agency relationships to consumers?
- In Texas, a real estate agent who has a personal interest in a property they are listing must:
- Under Texas law, a real estate agent who also holds a property management license from TREC can represent:
- A Texas real estate agent who helps a buyer write an offer significantly below the listing price is:
- A Texas listing agent who receives compensation from the buyer's agent's brokerage (cooperative commission) owes their primary fiduciary duties to:
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