An exclusive buyer agency agreement establishes the broker as the sole agent representing the buyer for a specified period. The "exclusive" nature of this contract means the broker is entitled to compensation if the buyer purchases a property that meets the criteria outlined in the agreement during its term. This holds true regardless of who finds the property—whether it's the broker, another agent, or the buyer themselves. This provision protects the broker's time and effort invested on the buyer's behalf. The agreement does not restrict the broker from working with other clients.

A. The buyer is the party contractually obligated to pay the commission; while it is often paid via a seller's concession or cooperating broker fee, this is a payment method, not a requirement.

B. The agreement covers any property the buyer purchases that meets the contract's terms, not just properties listed by that specific broker's firm.

D. A broker is permitted to work with multiple buyer clients simultaneously, which includes showing the same property to different clients, while upholding fiduciary duties to all.

1. Galaty, F. W., Allaway, W. J., & Kyle, R. C. (2022). Modern Real Estate Practice (21st ed.). DF Institute, Inc. Chapter 7, "Brokerage Agreements," details the "exclusive buyer representation agreement," specifying that the broker is owed a commission if the buyer purchases a property during the agreement term, regardless of who finds the property.

2. New Jersey Administrative Code, Title 11, Chapter 5, Section 6.9 (N.J.A.C. 11:5-6.9). This regulation requires licensees to provide a Consumer Information Statement (CIS) that defines the role of a buyer's agent as representing the buyer. The terms of compensation in an exclusive agreement are a matter of contract law built upon this foundational agency relationship defined by the state.

3. Jacobus, C. J. (2021). Real Estate Principles (13th ed.). Dearborn Real Estate Education. In the chapter on Agency Contracts, the text clarifies that under an exclusive right-to-represent agreement, the broker earns a commission upon the buyer's purchase of any property within the contract period, affirming the principle in the correct answer.