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.
The Riverside California Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a legally binding document that outlines the relationship between a buyer and a real estate broker in Riverside, California. This agreement is crucial in establishing the roles and responsibilities of both parties involved in a real estate transaction, providing clarity and protection. The Non-Exclusive Buyer-Broker Agreement states that the buyer is hiring a real estate broker to represent and assist them in finding and purchasing a property in Riverside, California. It acknowledges that the buyer may work with multiple brokers simultaneously, as the agreement is non-exclusive, meaning they are not limited to working exclusively with one broker. This agreement lays out the obligations of the buyer, such as providing truthful information, disclosing financial capabilities, and promptly paying the broker's fees. It also highlights the duties of the broker, including conducting property searches, providing market information, negotiating offers, and acting in the best interest of the buyer throughout the process. The Agency Disclosure component of the agreement is equally important. It ensures that both parties understand the type of agency relationship being formed. There are three possible types of agency relationships that can be disclosed in Riverside, California: 1. Exclusive Buyer's Agency: This type of agreement establishes an exclusive relationship between the buyer and the broker. The buyer agrees to work exclusively with the designated broker, who will have a fiduciary duty to protect and promote the buyer's interests above all others. 2. Dual Agency: In a dual agency situation, the broker represents both the buyer and the seller in the same transaction. This arrangement must be disclosed and agreed upon by both parties, as the broker must act impartially, meaning they cannot favor either party's interests. 3. Disclosed Limited Agency: This form of agency disclosure acknowledges that the broker may represent both parties, but only with the informed consent of both the buyer and the seller. The broker must act fairly and honestly, but can offer limited representation to each party. In conclusion, the Riverside California Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a comprehensive document that establishes the relationship between a buyer and a broker during a real estate transaction. By clearly delineating roles, obligations, and the type of agency relationship, this agreement protects the interests of both parties involved.The Riverside California Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a legally binding document that outlines the relationship between a buyer and a real estate broker in Riverside, California. This agreement is crucial in establishing the roles and responsibilities of both parties involved in a real estate transaction, providing clarity and protection. The Non-Exclusive Buyer-Broker Agreement states that the buyer is hiring a real estate broker to represent and assist them in finding and purchasing a property in Riverside, California. It acknowledges that the buyer may work with multiple brokers simultaneously, as the agreement is non-exclusive, meaning they are not limited to working exclusively with one broker. This agreement lays out the obligations of the buyer, such as providing truthful information, disclosing financial capabilities, and promptly paying the broker's fees. It also highlights the duties of the broker, including conducting property searches, providing market information, negotiating offers, and acting in the best interest of the buyer throughout the process. The Agency Disclosure component of the agreement is equally important. It ensures that both parties understand the type of agency relationship being formed. There are three possible types of agency relationships that can be disclosed in Riverside, California: 1. Exclusive Buyer's Agency: This type of agreement establishes an exclusive relationship between the buyer and the broker. The buyer agrees to work exclusively with the designated broker, who will have a fiduciary duty to protect and promote the buyer's interests above all others. 2. Dual Agency: In a dual agency situation, the broker represents both the buyer and the seller in the same transaction. This arrangement must be disclosed and agreed upon by both parties, as the broker must act impartially, meaning they cannot favor either party's interests. 3. Disclosed Limited Agency: This form of agency disclosure acknowledges that the broker may represent both parties, but only with the informed consent of both the buyer and the seller. The broker must act fairly and honestly, but can offer limited representation to each party. In conclusion, the Riverside California Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a comprehensive document that establishes the relationship between a buyer and a broker during a real estate transaction. By clearly delineating roles, obligations, and the type of agency relationship, this agreement protects the interests of both parties involved.
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.
