28. A buyer is looking in several different cities for land to purchase for a shopping center. The buyer has decided to hire several real estate licensees, each representing the buyer in that licensee's city. Which of the following types of agreements would most likely protect the buyer from owing multiple commissions?
Answer: C
C) nonexclusive buyer-agency
The nonexclusive buyer-agency agreement would allow the buyer to work with multiple real estate licensees across different cities without the obligation to pay multiple commissions. This type of agreement typically permits the buyer to engage several agents while ensuring they are only responsible for paying a commission to the agent who successfully facilitates the purchase.
A) exclusive agency representation
Exclusive agency representation would not be suitable for this scenario as it typically requires the buyer to work with only one agent. If the buyer engages multiple agents under exclusive agreements, they could be liable for multiple commissions if more than one agent brings a viable property.
B) nonexclusive right-to-lease
The nonexclusive right-to-lease agreement is focused on leasing rather than purchasing property. This option would not protect the buyer in the context of purchasing land for a shopping center, as it does not address the commission structure related to buying.
C) nonexclusive buyer-agency
As previously mentioned, the nonexclusive buyer-agency agreement is the most appropriate choice for the buyer. It enables the buyer to collaborate with several agents simultaneously while only incurring a commission obligation to the agent who completes the sale, thus protecting the buyer financially.
D) nonexclusive right to sell
The nonexclusive right to sell agreement pertains to the seller's relationship with agents and is irrelevant to the buyer's situation in purchasing land. This type of agreement does not address the buyer's commission concerns and therefore does not provide the necessary protection.
Conclusion
The nonexclusive buyer-agency agreement is the ideal choice for the buyer seeking to purchase land across multiple cities, as it protects them from owing multiple commissions by allowing engagement with several agents without exclusivity. The other options either restrict the buyer's flexibility or do not align with the context of purchasing property, thereby failing to meet the buyer's needs.