Agency
When a Vermont buyer's agency agreement expires before the buyer closes on a property found during the agreement period, the agent:
ALoses all rights to compensation
BMay be entitled to compensation under a holdover/protection clause in the agreement✓ Correct
CMust re-sign a new agreement at closing
DBecomes the seller's agent automatically
Explanation
Many buyer's agency agreements include a protection (holdover) clause that entitles the broker to compensation if the buyer purchases a property that was identified during the agreement period, even after the agreement expires.
Related Vermont Agency Questions
- Vermont's 'undivided loyalty' duty in a buyer's agency means the agent must:
- When a Vermont agent presents a low offer to a seller they represent, their duty is to:
- Vermont's agency law recognizes which of the following as creating an implied agency relationship?
- A Vermont real estate agent's 'fiduciary relationship' with their client is best described as:
- Vermont's requirement for broker supervision means the principal broker must:
- Vermont's 'puffing' in real estate advertising and presentations refers to:
- Vermont's 'market knowledge' duty requires a buyer's agent to:
- Vermont's 'informed consent' for dual agency requires that before proceeding the parties must understand:
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