Alabama Real Estate Practice Exam

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Prepare for the Alabama Real Estate Exam. Utilize flashcards and multiple-choice questions, each coupled with hints and explanations. Ace your upcoming test!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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How does an open buyer agency agreement work?

The buyer agrees to only work with one broker
The buyer works with multiple brokers but only pays the selling broker
The broker receives a commission no matter who finds the property
All brokers involved receive a portion of the commission

The correct answer is: The buyer works with multiple brokers but only pays the selling broker

An open buyer agency agreement allows the buyer to work with multiple brokers, but they only pay the selling broker. This means the buyer is not committed to one broker and can seek help from multiple brokers in finding a property. Option A is incorrect because the buyer is not limited to working with one broker. Option C is incorrect because the broker only receives a commission if they are the selling broker. Option D is incorrect because all brokers involved do not receive a portion of the commission, only the selling broker does.