What is true about the KREC Exclusive Buyer Agency Contract once signed?

The KREC Exclusive Buyer Agency Contract is designed to establish a formal and legally binding relationship between the buyer and their real estate agent once it is signed by both parties. This means that as soon as both the buyer and the agent have executed the agreement, the terms laid out within it become enforceable. This ensures that both the buyer and the agent are committed to their respective roles and obligations within the real estate transaction process.

The nature of the agreement is such that it signifies the buyer’s intention to work exclusively with the appointed agent, which can protect the agent's right to receive compensation while also outlining the buyer's expectations. This commitment is crucial for ensuring that both parties are clear on their responsibilities, which further supports a smooth transaction process.

In contrast to this, other options describe characteristics that do not accurately align with how the contract functions. For instance, the idea that the agreement can be voided within a specific time frame or that it remains non-binding until a property is found misrepresents the intent and enforceability of the contract.