Florida Real Estate Practice Exam

What type of agreement is most commonly used as a buyer representation agreement?

1. Exclusive right-to-represent

2. Exclusive right-to-sell

3. Net listing

4. Open listing

The correct answer is: Exclusive right-to-represent

A buyer representation agreement is a contract between a buyer and their real estate agent outlining the terms and conditions of their relationship. An exclusive right-to-represent agreement gives the agent the exclusive right to represent the buyer in their home search and negotiations with sellers. This type of agreement is commonly used as it ensures that the agent will receive their commission regardless of whether the buyer purchases a home listed by the agent or not. Option B, exclusive right-to-sell, is a type of agreement used between a seller and their real estate agent, where the agent has the exclusive right to list and sell the property. This is not the most commonly used type of agreement for a buyer. Option C, net listing, is a type of agreement where the agent's commission is based on the net price of the property, rather than a set percentage. This type of agreement is not commonly used as it can create