A non exclusive buyer brokerage agreement (NEBBA) is a legal contract between a buyer and a real estate agent or broker. This agreement allows the buyer to work with multiple agents or brokers while searching for a property without being obligated to any specific agent or broker.

A NEBBA gives the buyer more flexibility and control over their home buying process. They can work with several agents at once to find the perfect property, and they are not committed to any one agent. This allows the buyer to compare and contrast different agents and brokers to find the one that best suits their needs.

One important feature of a NEBBA is that it typically includes a commission clause. The commission clause details the commission that the seller will pay the agent or broker who brings in a buyer. In a NEBBA, the commission is typically split with any other agents or brokers who were also involved in the sale.

NEBBAs are often used by buyers who are unsure which agent or broker to work with. They may not have a specific relationship with an agent, or they may be new to the area and want to work with different agents to get a better sense of the local real estate market.

Another benefit of a NEBBA is that it can save buyers money. Since there is no exclusivity agreement, buyers are free to negotiate commission rates with different agents or brokers. This can result in lower commission rates and ultimately save the buyer money on their home purchase.

It is important to note that a NEBBA does not guarantee that the buyer will find the perfect property. It simply provides the buyer with the flexibility to work with multiple agents or brokers and explore all available options. Buyers should still exercise caution and do their due diligence when working with any agent or broker.

In conclusion, a non exclusive buyer brokerage agreement provides buyers with flexibility, control, and potential cost savings when searching for a property. It allows buyers to work with multiple agents or brokers without being obligated to any one individual, and it can result in lower commission rates. However, buyers should still exercise caution and do their due diligence when working with any real estate professional.