The King Washington Agreement for Broker to Act as Agent of Buyer is a legal document that outlines a formal agreement between a broker and a buyer. This agreement establishes the relationship between the two parties and defines the responsibilities and obligations of the broker acting as the buyer's agent. In the King Washington Agreement, the broker is designated as the buyer's representative and is authorized to act on behalf of the buyer in all real estate transactions. The agreement includes provisions that outline the broker's duties, such as helping the buyer search for suitable properties, negotiating purchase terms, and facilitating the real estate transaction process. This agreement is crucial as it ensures that the buyer's interests are protected and that the broker is committed to acting in the buyer's best interests. It establishes a fiduciary duty that requires the broker to provide honest, loyal, and diligent representation to the buyer throughout the real estate transaction. Different types of King Washington Agreements for Broker to Act as Agent of Buyer may include: 1. Exclusive Buyer Agency Agreement: This type of agreement grants the broker exclusive rights to represent the buyer. It prevents the buyer from hiring or engaging other brokers to find or negotiate on their behalf. 2. Non-Exclusive Buyer Agency Agreement: Unlike the exclusive agreement, this type allows the buyer to engage multiple brokers simultaneously to search for suitable properties. The buyer has the flexibility to work with different brokers and is not bound exclusively to one. 3. Limited Service Buyer Agency Agreement: This agreement sets limitations on the services the broker will provide to the buyer. It outlines specific tasks the broker will undertake and excludes others. This agreement is suitable for buyers who want to handle some aspects of the transaction themselves. In conclusion, the King Washington Agreement for Broker to Act as Agent of Buyer is a vital document that establishes the professional relationship between a broker and a buyer. It ensures that the buyer's interests are prioritized and protected during the real estate transaction. The different types of agreements cater to different buyer preferences and requirements.
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.