55. A couple wishing to purchase their first residence signs an exclusive buyer agency agreement with a real estate licensee in January. The agreement specifies that the buyers will work exclusively with the licensee, who will receive a commission if the couple purchases any property within six months of signing the agreement. The buyer agent devotes a whole week to showing the couple properties. Later, the couple attends an open house and buys directly through the listing agent. What is the couple’s obligation to the exclusive buyer agent?
Answer: B
The couple must pay because the contract they signed with the exclusive buyer agent obligates them to do so.
The couple is legally bound by the exclusive buyer agency agreement they signed, which stipulates that they must work exclusively with the licensee and that the agent is entitled to a commission if they purchase a property within six months of signing the agreement.
A) They have no obligation because the exclusive buyer agent did not find the property they bought.
This option is incorrect because the terms of the exclusive buyer agency agreement do not hinge on the agent finding the property. The agreement ensures that the agent receives a commission if the couple purchases any property within the specified timeframe, regardless of whether the agent facilitated the transaction.
B) They must pay because the contract they signed with the exclusive buyer agent obligates them to do so.
This option is correct as it accurately reflects the legal obligation established by the exclusive buyer agency agreement. The couple’s agreement to work exclusively with the agent means they are responsible for payment, irrespective of the agent's involvement in the specific property purchase.
C) They must pay half of the contract fee to each of the agents.
This option is incorrect because the terms of the exclusive buyer agency agreement do not allow for splitting fees between the agents. The couple is bound to the exclusive buyer agent and must fulfill their financial obligations to that agent alone.
D) They have no obligation to pay because they did not use any services of the exclusive buyer agent.
This option is also incorrect. The obligation to pay arises from the exclusive buyer agency agreement itself, not from the utilization of services. The agreement stipulates that a commission is due if a purchase occurs within the contract period, regardless of whether the agent was involved in the transaction.
Conclusion
The couple is obligated to pay the exclusive buyer agent according to the terms of the contract they signed, which clearly states the commission due upon purchasing any property within six months. All other options fail to recognize the binding nature of the agreement, which supersedes the circumstances of the property transaction. Thus, the couple must honor their commitment to the exclusive buyer agent.