New Jersey Real Estate Practice Exam Practice Question
A licensee has an exclusive buyer agency agreement in place. The buyer signs a contract to purchase through a different licensee at an open house. Because of the buyer's agency agreement, which of the following is true?
Correct Answer: C
Rationale: An exclusive buyer agency agreement establishes a legal obligation for the buyer to work with their designated agent, ensuring that the agent is entitled to a commission upon the successful purchase of a property.
Option A is incorrect because the seller and listing broker are not obligated to pay the buyer's agent directly unless specified in the listing agreement. Option B misinterprets commission distribution; the seller's broker typically pays the listing agent, not a shared commission with the buyer's agent. Option D is also wrong, as the buyer's agent retains the right to a commission based on the signed agreement, regardless of the buyer's actions at the open house.
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