24. 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.
In this scenario, the exclusive buyer agency agreement binds the buyer to the original agent, meaning the original buyer's agent is entitled to a commission, regardless of the buyer's decision to purchase through a different licensee.
A) The seller/listing broker owe the buyer's agent a commission.
This option is incorrect because the obligation to pay a commission typically falls under the terms of the buyer agency agreement, not directly from the seller or listing broker. The seller and listing broker are primarily concerned with their own obligations to the listing agent.
B) The seller/listing broker owe the listing agent and the buyer's agent a shared commission.
This option is inaccurate because the commission structure does not imply a shared commission between the listing agent and the buyer’s agent unless specifically agreed upon. The buyer's agent is entitled to their commission based on the buyer's agency agreement, not a shared arrangement.
C) The original buyer's agent is owed a commission according to the agreement.
This option is correct because the exclusive buyer agency agreement establishes the buyer's agent's right to a commission for representing the buyer in the transaction, regardless of the buyer's choice to work with a different licensee.
D) The original buyer's agent is entitled to no commission.
This option is incorrect because it contradicts the terms of the exclusive buyer agency agreement, which guarantees the buyer's agent a commission despite the buyer's decision to purchase through another licensee.
Conclusion
The correct answer is C, as it aligns with the terms of the exclusive buyer agency agreement, ensuring that the original buyer's agent retains their right to a commission. Options A, B, and D fail to recognize the binding nature of the agreement, while option C accurately reflects the legal rights of the buyer's agent in this situation.