If a broker and seller enter into an Exclusive Agency Agreement, who is entitled to a commission if the seller finds the buyer themselves.

True or False?

Question

Business

Paula Holloway

20 October, 09:11

If a broker and seller enter into an Exclusive Agency Agreement, who is entitled to a commission if the seller finds the buyer themselves.

True or False?

+5

Answers (1)

Know the Answer?

Lillian Koch · Answer 1

If the seller finds the buyer by himself/herself, he/she does not have to pay any commission

Explanation:

An exclusive agency agreement is signed between the seller and the broker (real estate firm) where the broker is granted exclusive rights for offering and selling the property. This means that only one broker (the signing party) is allowed to market and sell the property. Only if the seller actually sells the property by himself/herself is the exclusive agency agreement terminated.

If a broker and seller enter into an Exclusive Agency Agreement, who is entitled to a commission if the seller finds the buyer themselves.True or False?

If a broker and seller enter into an Exclusive Agency Agreement, who is entitled to a commission if the seller finds the buyer themselves.

True or False?