Maryland Agent Agreement
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How to fill out Agent Agreement?
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FAQ
Subagent: A Subagent means a licensed real estate broker, licensed associate real estate broker, or licensed real estate salesperson who is not affiliated with or acting as the listing real estate broker for a property, is not a buyer's agent, has a brokerage relationship with the seller, and assists a prospective ...
Dual Agents in Maryland A buyer may still have a buyer's agent if the buyer would like to be represented. The seller's can still have a seller's agent. If both the buyer and seller agree to "Dual Agency" the real estate agents' are referred to as an intra company agent, which are designated by the real estate broker.
In Maryland, a single agent is prohibited from representing both the buyer and seller in the transaction. However, if both agents have the same Supervising or Managing Broker, the broker is deemed a Dual Agent.
What Is Dual Agency? Dual agency occurs when a real estate agent works on behalf of both the home buyer and seller. In most real estate transactions, it is much more common to have separate agents represent each party, as this helps avoid the conflict of interest that can happen when an agent negotiates for both sides.
Subagency usually arises when a cooperating sales associate from another brokerage, who is not the buyer's agent, shows property to a buyer. The subagent works with the buyer to show the property but owes fiduciary duties to the listing broker and the seller.
In other words, a dual agent represents both the buyer and seller in a real estate deal. Dual agency is illegal in the following eight states: Wyoming, Alaska, Vermont, Colorado, Flroida, Maryland, Texas, and Kansas.
Legally speaking, a dual agent is a real estate broker, or agents working for the same broker, who act on behalf of both the seller and the buyer in a transaction. A broker is permitted to act as a dual agent in California only if the buyer and seller are both aware of and consent to the dual agency.
Exclusive Buyer Agency Agreement An exclusive arrangement means you're solely represented by one real estate agent and not allowed to hire different agents during the home buying process. This is the most common form of a buyer agency agreement contract.