New York State Real Estate Salesperson Licensing Practice Exam

A buyer brokerage agreement is designed to establish the relationship between a buyer and their real estate agent or broker. One of the critical components of such an agreement is the agent's commission agreement. This specifies the commission rate or fee structure that the broker will receive upon the successful purchase of a property by the buyer. It sets clear expectations for both parties regarding financial responsibilities, ensuring that the buyer understands how the agent will be compensated for their services.

In addition to the commission agreement, the buyer brokerage agreement may cover various other aspects related to the provision of services. However, the primary focus is on the obligations of the agent and the compensation for their work on behalf of the buyer.