Question

When a purchaser authorizes a broker to collect their commission from the listing broker or seller pursuant to an Exclusive Right-To-Buy contract, the obligation for payment of the commission:1. is now that of the listing broker as per the coop offer through MLS2. is now that of the seller as per the original listing contract3. remains with the buyer4. is whichever compensation arrangement box is checked

Answer 1

4. The obligation for payment of the commission is whichever compensation arrangement box is checked.

Explanation:

Exclusive right-to-buy contracts is one of the most common buyer-broker agreement between buyers and brokers or sellers.

This agreement outlines the obligations of the broker, the broker-agent relationship, and the responsibilities of the buyer.

Whatever is agreed on between the buyer and the seller or broker is the obligation for payment of commission and this will be strictly adhered to by both parties.