This form is an Agreement for a Broker to Act as an Agent for a Buyer. The buyer authorizes the broker to act as the exclusive agent for the buyer in the purchase of certain property. The broker also agrees to not reveal confidential information obtained from or about the buyer except in the furtherance of the purpose of a transaction as permitted by the agreement.
The Oregon Agreement for Broker to Act as Agent of Buyer is a legally binding document that outlines the authorized relationship between a real estate buyer and their chosen broker. This agreement establishes the broker's role as the agent of the buyer, representing their best interests throughout the purchasing process. The primary purpose of the Oregon Agreement for Broker to Act as Agent of Buyer is to protect the buyer's rights, ensure fiduciary representation, and clarify the scope of the broker's responsibilities. It typically covers a wide range of essential aspects, such as property search, negotiations, escrow, disclosures, and closing procedures. Specific details included in the agreement often encompass the following: 1. Identification of Parties: The agreement identifies the buyer and the broker involved, establishing the agency relationship between them. 2. Duration of Agreement: This section outlines the time period during which the buyer will engage the broker's services. 3. Compensation: The agreement specifies how the broker will be compensated for their services, which commonly involves a commission based on a percentage of the property's sale price. 4. Duties and Responsibilities: The document outlines the broker's obligations to the buyer, including thorough property research, organizing showings, negotiating with sellers, and providing accurate information about market conditions. 5. Confidentiality: The agreement ensures that any confidential information disclosed by the buyer to the broker during the course of the relationship will remain confidential. 6. Multiple Representation: In cases where the broker is representing both the buyer and the seller (dual agency), this aspect is clearly stated, along with any relevant limitations or conflicts of interest. 7. Compliance with Oregon Real Estate Laws: The agreement emphasizes the necessity for compliance with the state's real estate laws and regulations during the transaction. 8. Termination Procedures: This section outlines the conditions and procedures for terminating the agreement, protecting both parties' interests and specifying any applicable fees or penalties. It's important to note that while the core elements of the Oregon Agreement for Broker to Act as Agent of Buyer are generally consistent, certain variations might exist depending on individual brokerages or specific client requirements. Types or variations of the Oregon Agreement for Broker to Act as Agent of Buyer may include: 1. Exclusive Buyer Agency Agreement: This agreement establishes the buyer's exclusive representation by a specific broker and prevents them from working with other brokers simultaneously. 2. Non-Exclusive Buyer Agency Agreement: This agreement allows the buyer to engage multiple brokers to represent them simultaneously. 3. Limited Service Agency Agreement: In this arrangement, the broker's representation and services are limited to specific aspects of the buyer's real estate transaction, as defined in the agreement. By utilizing the Oregon Agreement for Broker to Act as Agent of Buyer, both buyers and brokers can ensure clear communication, mutual understanding, and a strong foundation for a successful real estate transaction.
The Oregon Agreement for Broker to Act as Agent of Buyer is a legally binding document that outlines the authorized relationship between a real estate buyer and their chosen broker. This agreement establishes the broker's role as the agent of the buyer, representing their best interests throughout the purchasing process. The primary purpose of the Oregon Agreement for Broker to Act as Agent of Buyer is to protect the buyer's rights, ensure fiduciary representation, and clarify the scope of the broker's responsibilities. It typically covers a wide range of essential aspects, such as property search, negotiations, escrow, disclosures, and closing procedures. Specific details included in the agreement often encompass the following: 1. Identification of Parties: The agreement identifies the buyer and the broker involved, establishing the agency relationship between them. 2. Duration of Agreement: This section outlines the time period during which the buyer will engage the broker's services. 3. Compensation: The agreement specifies how the broker will be compensated for their services, which commonly involves a commission based on a percentage of the property's sale price. 4. Duties and Responsibilities: The document outlines the broker's obligations to the buyer, including thorough property research, organizing showings, negotiating with sellers, and providing accurate information about market conditions. 5. Confidentiality: The agreement ensures that any confidential information disclosed by the buyer to the broker during the course of the relationship will remain confidential. 6. Multiple Representation: In cases where the broker is representing both the buyer and the seller (dual agency), this aspect is clearly stated, along with any relevant limitations or conflicts of interest. 7. Compliance with Oregon Real Estate Laws: The agreement emphasizes the necessity for compliance with the state's real estate laws and regulations during the transaction. 8. Termination Procedures: This section outlines the conditions and procedures for terminating the agreement, protecting both parties' interests and specifying any applicable fees or penalties. It's important to note that while the core elements of the Oregon Agreement for Broker to Act as Agent of Buyer are generally consistent, certain variations might exist depending on individual brokerages or specific client requirements. Types or variations of the Oregon Agreement for Broker to Act as Agent of Buyer may include: 1. Exclusive Buyer Agency Agreement: This agreement establishes the buyer's exclusive representation by a specific broker and prevents them from working with other brokers simultaneously. 2. Non-Exclusive Buyer Agency Agreement: This agreement allows the buyer to engage multiple brokers to represent them simultaneously. 3. Limited Service Agency Agreement: In this arrangement, the broker's representation and services are limited to specific aspects of the buyer's real estate transaction, as defined in the agreement. By utilizing the Oregon Agreement for Broker to Act as Agent of Buyer, both buyers and brokers can ensure clear communication, mutual understanding, and a strong foundation for a successful real estate transaction.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.