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.
Title: Understanding the San Jose California Non-Exclusive Buyer-Broker Agreement and Agency Disclosure: Types and Detailed Description Introduction: The San Jose California Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a crucial document designed to protect the interests of both buyers and real estate agents involved in a property transaction. This agreement establishes the relationship between the buyer and the broker, defining their rights and responsibilities, while the agency disclosure ensures transparency regarding the representation provided by the broker. In San Jose, California, there are different types of Non-Exclusive Buyer-Broker Agreements and Agency Disclosures catered to different buyer-broker relationships. 1. San Jose Non-Exclusive Buyer-Broker Agreement: This type of agreement is commonly used in real estate transactions in San Jose. It outlines the terms and conditions under which a real estate agent or broker will provide services to a buyer. It specifies the length of the agreement, the broker's fee structure, and the buyer's obligations, among other important details. The agreement is non-exclusive, meaning the buyer is not restricted to working solely with the specified agent. 2. Exclusive Buyer-Broker Agreement: While non-exclusive agreements allow buyers to work with multiple agents, the exclusive buyer-broker agreement limits the buyer to work exclusively with a single agent for a specified period. This agreement ensures that the agent is fully committed to the buyer's best interests and can provide a higher level of personalized service throughout the home-buying process. 3. Agency Disclosure: The Agency Disclosure, also known as the Agency Relationship Disclosure, is a critical component of the buyer-broker relationship in San Jose, California. It is an informational document that informs the buyer of the representation provided by the broker or agent. The disclosure highlights the different types of agency relationships, such as the exclusive agency, dual agency, and subagency, and explicitly states the agent's fiduciary duties towards the buyer. Key Components of the San Jose Non-Exclusive Buyer-Broker Agreement and Agency Disclosure: 1. Identification of Parties: The agreement discloses the names and contact information of the buyer and the broker. 2. Length of Agreement: Specifies the duration of the agreement, typically ranging from several months to a year. 3. Compensation: Outlines the broker's fee structure, including commission rates and possible payment terms. 4. Broker's Obligations: Lists the services the broker will provide to the buyer, such as property search, market analysis, offer negotiation, and paperwork assistance. 5. Buyer's Obligations: Details the buyer's responsibilities, including providing accurate information, cooperating with the broker, and, if applicable, obtaining financing. 6. Termination Clause: States the conditions under which either party can terminate the agreement before the predetermined expiration date. 7. Agency Disclosure: Provides a clear explanation of the broker's agency relationship with the buyer, addressing any potential conflicts of interest and clarifying the agent's loyalty and fiduciary duties. Conclusion: The San Jose California Non-Exclusive Buyer-Broker Agreement and Agency Disclosure aim to establish a transparent and mutually beneficial relationship between buyers and real estate agents during property transactions. By understanding the different types of agreements and the agency disclosure, buyers in San Jose can make informed decisions and protect their interests when engaging in real estate transactions with brokers.Title: Understanding the San Jose California Non-Exclusive Buyer-Broker Agreement and Agency Disclosure: Types and Detailed Description Introduction: The San Jose California Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a crucial document designed to protect the interests of both buyers and real estate agents involved in a property transaction. This agreement establishes the relationship between the buyer and the broker, defining their rights and responsibilities, while the agency disclosure ensures transparency regarding the representation provided by the broker. In San Jose, California, there are different types of Non-Exclusive Buyer-Broker Agreements and Agency Disclosures catered to different buyer-broker relationships. 1. San Jose Non-Exclusive Buyer-Broker Agreement: This type of agreement is commonly used in real estate transactions in San Jose. It outlines the terms and conditions under which a real estate agent or broker will provide services to a buyer. It specifies the length of the agreement, the broker's fee structure, and the buyer's obligations, among other important details. The agreement is non-exclusive, meaning the buyer is not restricted to working solely with the specified agent. 2. Exclusive Buyer-Broker Agreement: While non-exclusive agreements allow buyers to work with multiple agents, the exclusive buyer-broker agreement limits the buyer to work exclusively with a single agent for a specified period. This agreement ensures that the agent is fully committed to the buyer's best interests and can provide a higher level of personalized service throughout the home-buying process. 3. Agency Disclosure: The Agency Disclosure, also known as the Agency Relationship Disclosure, is a critical component of the buyer-broker relationship in San Jose, California. It is an informational document that informs the buyer of the representation provided by the broker or agent. The disclosure highlights the different types of agency relationships, such as the exclusive agency, dual agency, and subagency, and explicitly states the agent's fiduciary duties towards the buyer. Key Components of the San Jose Non-Exclusive Buyer-Broker Agreement and Agency Disclosure: 1. Identification of Parties: The agreement discloses the names and contact information of the buyer and the broker. 2. Length of Agreement: Specifies the duration of the agreement, typically ranging from several months to a year. 3. Compensation: Outlines the broker's fee structure, including commission rates and possible payment terms. 4. Broker's Obligations: Lists the services the broker will provide to the buyer, such as property search, market analysis, offer negotiation, and paperwork assistance. 5. Buyer's Obligations: Details the buyer's responsibilities, including providing accurate information, cooperating with the broker, and, if applicable, obtaining financing. 6. Termination Clause: States the conditions under which either party can terminate the agreement before the predetermined expiration date. 7. Agency Disclosure: Provides a clear explanation of the broker's agency relationship with the buyer, addressing any potential conflicts of interest and clarifying the agent's loyalty and fiduciary duties. Conclusion: The San Jose California Non-Exclusive Buyer-Broker Agreement and Agency Disclosure aim to establish a transparent and mutually beneficial relationship between buyers and real estate agents during property transactions. By understanding the different types of agreements and the agency disclosure, buyers in San Jose can make informed decisions and protect their interests when engaging in real estate transactions with brokers.
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.
