Final answer:
When selecting yes on a buyer representation agreement, the buyer is agreeing to be exclusively represented by a real estate agent. The agreement outlines the agent's duties and the commission they will receive. It is a legally binding contract.
Step-by-step explanation:
When a buyer selects yes on a buyer representation agreement, they are agreeing to be represented by a real estate agent exclusively for a specified period of time. This means that the buyer cannot work with any other agent or purchase a property through another agent during this time.
The agreement outlines the duties and obligations of the agent, such as finding suitable properties, negotiating on behalf of the buyer, and providing guidance throughout the buying process. It also specifies the commission the agent will receive upon a successful purchase.
The buyer representation agreement is a legally binding contract and it is important for the buyer to carefully read and understand the terms before signing.