The non-exclusive agreement outlines the broker's/agent's duties and obligations to the buyer, agency relationships, broker scope of duty and buyer obligations; however, it does provide for compensation. It also removes the buyer's responsibility to pay a commission if the broker / agent is paid by another party such as the seller.
Fairfax Virginia Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a legal document outlining the relationship between a homebuyer and a real estate agent in Fairfax, Virginia. This agreement is crucial as it establishes the buyer's rights, responsibilities, and the services that the agent will provide throughout the home buying process. Here is a detailed description of this agreement, including relevant keywords: 1. Fairfax Virginia Non-Exclusive Buyer-Broker Agreement: This agreement is a legally binding contract between a buyer and a real estate agent, specifically tailored to the laws and regulations of Fairfax, Virginia. The buyer and agent mutually agree to work together during the property search, negotiation, and closing stages. 2. Non-Exclusive Buyer-Broker Agreement: This type of agreement ensures that the buyer can work with multiple agents simultaneously, allowing them to explore various property options from different sources. Unlike an exclusive agreement, the buyer is not obliged to work exclusively with one agent. 3. Agency Disclosure: Agency disclosure is a crucial aspect of the agreement, informing the buyer about the agent's role and responsibilities. The agent must disclose their agency relationship to the buyer, whether they are representing the buyer as a buyer's agent, a seller's agent, or functioning as a dual agent representing both parties in the transaction. 4. Buyer's Rights: The agreement outlines the buyer's rights, ensuring that they are informed of available properties, receive market analysis, and have access to contractual advice. It also ensures that the agent will act in the buyer's best interest throughout the transaction. 5. Agent's Responsibilities: The agreement establishes the agent's responsibilities, such as assisting in property search, scheduling showings, providing market information, and negotiating offers on behalf of the buyer. It also covers the agent's fiduciary duties to protect the buyer's confidential information and promote their best interests. 6. Duration and Termination: The agreement specifies the duration of the relationship between the buyer and the agent. If either party wishes to terminate the agreement before the specified duration, the process for termination is outlined. 7. Compensation: The agreement clarifies the compensation arrangement between the buyer and the agent, including the commission structure and who is responsible for paying the agent's fees. In most cases, the agent's commission is paid by the seller, but any potential expenses or additional fees are discussed. By having a Fairfax Virginia Non-Exclusive Buyer-Broker Agreement and Agency Disclosure, buyers in Fairfax can establish a clear understanding with their real estate agent, enabling a transparent, efficient, and legally protected home buying process. Remember, it is essential to consult with a qualified real estate professional and legal advisor before entering into any agreement.Fairfax Virginia Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a legal document outlining the relationship between a homebuyer and a real estate agent in Fairfax, Virginia. This agreement is crucial as it establishes the buyer's rights, responsibilities, and the services that the agent will provide throughout the home buying process. Here is a detailed description of this agreement, including relevant keywords: 1. Fairfax Virginia Non-Exclusive Buyer-Broker Agreement: This agreement is a legally binding contract between a buyer and a real estate agent, specifically tailored to the laws and regulations of Fairfax, Virginia. The buyer and agent mutually agree to work together during the property search, negotiation, and closing stages. 2. Non-Exclusive Buyer-Broker Agreement: This type of agreement ensures that the buyer can work with multiple agents simultaneously, allowing them to explore various property options from different sources. Unlike an exclusive agreement, the buyer is not obliged to work exclusively with one agent. 3. Agency Disclosure: Agency disclosure is a crucial aspect of the agreement, informing the buyer about the agent's role and responsibilities. The agent must disclose their agency relationship to the buyer, whether they are representing the buyer as a buyer's agent, a seller's agent, or functioning as a dual agent representing both parties in the transaction. 4. Buyer's Rights: The agreement outlines the buyer's rights, ensuring that they are informed of available properties, receive market analysis, and have access to contractual advice. It also ensures that the agent will act in the buyer's best interest throughout the transaction. 5. Agent's Responsibilities: The agreement establishes the agent's responsibilities, such as assisting in property search, scheduling showings, providing market information, and negotiating offers on behalf of the buyer. It also covers the agent's fiduciary duties to protect the buyer's confidential information and promote their best interests. 6. Duration and Termination: The agreement specifies the duration of the relationship between the buyer and the agent. If either party wishes to terminate the agreement before the specified duration, the process for termination is outlined. 7. Compensation: The agreement clarifies the compensation arrangement between the buyer and the agent, including the commission structure and who is responsible for paying the agent's fees. In most cases, the agent's commission is paid by the seller, but any potential expenses or additional fees are discussed. By having a Fairfax Virginia Non-Exclusive Buyer-Broker Agreement and Agency Disclosure, buyers in Fairfax can establish a clear understanding with their real estate agent, enabling a transparent, efficient, and legally protected home buying process. Remember, it is essential to consult with a qualified real estate professional and legal advisor before entering into any agreement.
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.
