A licensee has an exclusive buyer agency agreement in place. The buyer signs a contract to purchase through a different licensee at an open house. Because of the buyer's agency agreement, which of the following is true?

This statement misrepresents the commission obligations. The seller’s listing broker typically owes a commission to the seller’s agent, and while the buyer’s agent may receive a share, it is not the listing broker's responsibility to pay the buyer’s agent directly unless specified in a cooperative agreement.

This option incorrectly implies that the seller’s listing broker is responsible for paying both the listing agent and buyer’s agent a shared commission. In reality, the listing broker pays the listing agent, and any commission for the buyer's agent would be governed by the agreement between the buyer and their agent, not a shared obligation from the listing broker.

This statement is inaccurate as it disregards the legal binding nature of the exclusive buyer agency agreement. The buyer's agent has a right to commission based on this agreement, even if the buyer engages another licensee to complete the purchase.