What does an exclusive right buyer agency agreement imply?

An exclusive right buyer agency agreement establishes a unique relationship between the buyer and the broker. This type of agreement grants the broker the exclusive right to represent the buyer in their property search. This means that no matter who finds the property—whether it's the broker or another agent—the broker still earns a commission if the buyer purchases a property.

This arrangement is designed to ensure that the broker is fully committed to assisting the buyer throughout the process, providing them with dedicated service and tailored expertise. The buyer, in turn, benefits from the broker's support and market knowledge, promoting a strong collaborative working relationship.

In this context, the other options do not accurately reflect the implications of this agreement. The buyer cannot work with multiple brokers under an exclusive right agreement, which is crucial for maintaining focused representation and avoiding conflicts of interest. Additionally, the buyer is typically obligated to pay a commission when the deal closes, regardless of who sourced the property. Hence, the agreement fosters a clear expectation of commitment and responsibility on both sides, specifically emphasizing the broker's exclusive role in representing the buyer.