13. 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?
Answer: C
The original buyer's agent is owed a commission according to the agreement.
Under an exclusive buyer agency agreement, the buyer's agent is entitled to a commission regardless of the buyer's decision to purchase through a different licensee. This agreement legally binds the buyer to compensate their agent for the services rendered in finding a property.
A) The seller/listing broker owe the buyer's agent a commission.
This statement is incorrect because the obligation to pay the buyer's agent a commission typically falls to the buyer under an exclusive buyer agency agreement, not the seller or the listing broker. The seller's agent may not have a contractual obligation to pay the buyer's agent.
B) The seller/listing broker owe the listing agent and the buyer's agent a shared commission.
This option is misleading as it implies that the seller or listing broker is responsible for paying both agents. In an exclusive buyer agency agreement, the buyer's agent is compensated by the buyer, while the seller's agent may receive a commission from the seller's side.
C) The original buyer's agent is owed a commission according to the agreement.
This statement is correct because the exclusive buyer agency agreement ensures that the buyer's agent is compensated for their services, even if the buyer decides to purchase through a different agent. The agreement creates a financial obligation on the part of the buyer to pay their agent.
D) The original buyer's agent is entitled to no commission.
This option is incorrect as it contradicts the terms of the exclusive buyer agency agreement. The agent is indeed entitled to a commission, as the agreement stipulates that the buyer must compensate the agent for the services provided in the home search.
Conclusion
The correct answer, C, emphasizes the buyer's obligation to compensate their original agent under the terms of the exclusive buyer agency agreement. All other options fail to recognize this legal obligation, either misattributing the source of the commission or incorrectly asserting that the agent would not be entitled to compensation.