The 3 Types of Buyer-Broker Agreements Buyer-broker agreements: The basics. Nonexclusive not-for-compensation contracts. Nonexclusive right-to-represent contracts. Exclusive right-to-represent contracts. Making the choice.
This legally binding contract sets the expectations for both you and your agent. As of August 17, 2024, new federal legal requirements have made these agreements mandatory for all real estate agents who use the MLS (Multiple Listing Service).
A licensee engaged by a buyer does not breach any duty or obligation to the buyer by showing properties in which the buyer is interested to other prospective buyers, whether as clients or customers, by representing other buyers looking at the same or other properties, or by representing sellers relative to other ...