North Carolina Agreement for Broker to Act as Agent of Buyer

• Category: Contracts - Agency
• State: Multi-State
• Control #: US-01636
• Format: Word; Rich Text

Description

This form is an Agreement for a Broker to Act as an Agent for a Buyer. The buyer authorizes the broker to act as the exclusive agent for the buyer in the purchase of certain property. The broker also agrees to not reveal confidential information obtained from or about the buyer except in the furtherance of the purpose of a transaction as permitted by the agreement. The North Carolina Agreement for Broker to Act as Agent of Buyer is a legally binding document that outlines the terms and conditions under which a real estate broker will represent a buyer in a property transaction. This agreement is crucial in establishing the relationship between the buyer and the broker, ensuring that the broker acts solely in the best interest of the buyer throughout the process. In this agreement, the broker agrees to act as the buyer's agent, providing professional assistance, expertise, and advice in finding and purchasing a property. The buyer grants the broker the authority to act as their representative, negotiate on their behalf, and disclose relevant information to assist in the transaction. Keywords: North Carolina, Agreement, Broker, Agent, Buyer, Property transaction, Relationship, Best interest, Professional assistance, Expertise, Advice, Purchasing, Authority, Negotiate, Disclose, Transaction. There are different types of North Carolina Agreements for Broker to Act as Agent of Buyer, namely: 1. Exclusive Right to Represent Buyer: This type of agreement establishes an exclusive relationship between the buyer and the broker, meaning that the buyer cannot work with any other broker during the agreed-upon period. The broker is entitled to a commission if the buyer purchases a property introduced or located by the broker. 2. Non-Exclusive Right to Represent Buyer: In this type of agreement, the buyer has the freedom to work with multiple brokers simultaneously, and the broker is not entitled to a commission unless they are the procuring cause of the sale. 3. Designated Agency Agreement: This agreement allows the buyer to work with a specific broker within a larger real estate agency, rather than the agency as a whole. The designated broker acts solely on behalf of the buyer and is responsible for fulfilling all the obligations outlined in the agreement. 4. Dual Agency Agreement: A dual agency agreement occurs when the broker represents both the buyer and the seller in the same transaction. However, this type of agreement is subject to specific legal requirements and limitations, ensuring that the broker maintains neutrality and impartiality throughout the process. It is essential for both the buyer and the broker to understand the specifics of the chosen agreement, as it sets the foundation for their working relationship and protects the interests of both parties.

The North Carolina Agreement for Broker to Act as Agent of Buyer is a legally binding document that outlines the terms and conditions under which a real estate broker will represent a buyer in a property transaction. This agreement is crucial in establishing the relationship between the buyer and the broker, ensuring that the broker acts solely in the best interest of the buyer throughout the process. In this agreement, the broker agrees to act as the buyer's agent, providing professional assistance, expertise, and advice in finding and purchasing a property. The buyer grants the broker the authority to act as their representative, negotiate on their behalf, and disclose relevant information to assist in the transaction. Keywords: North Carolina, Agreement, Broker, Agent, Buyer, Property transaction, Relationship, Best interest, Professional assistance, Expertise, Advice, Purchasing, Authority, Negotiate, Disclose, Transaction. There are different types of North Carolina Agreements for Broker to Act as Agent of Buyer, namely: 1. Exclusive Right to Represent Buyer: This type of agreement establishes an exclusive relationship between the buyer and the broker, meaning that the buyer cannot work with any other broker during the agreed-upon period. The broker is entitled to a commission if the buyer purchases a property introduced or located by the broker. 2. Non-Exclusive Right to Represent Buyer: In this type of agreement, the buyer has the freedom to work with multiple brokers simultaneously, and the broker is not entitled to a commission unless they are the procuring cause of the sale. 3. Designated Agency Agreement: This agreement allows the buyer to work with a specific broker within a larger real estate agency, rather than the agency as a whole. The designated broker acts solely on behalf of the buyer and is responsible for fulfilling all the obligations outlined in the agreement. 4. Dual Agency Agreement: A dual agency agreement occurs when the broker represents both the buyer and the seller in the same transaction. However, this type of agreement is subject to specific legal requirements and limitations, ensuring that the broker maintains neutrality and impartiality throughout the process. It is essential for both the buyer and the broker to understand the specifics of the chosen agreement, as it sets the foundation for their working relationship and protects the interests of both parties.