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 North Carolina Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a legally binding document used in real estate transactions that outlines the relationship between a buyer and a real estate agent. This agreement establishes the rights and responsibilities of both parties throughout the home buying process. The Non-Exclusive Buyer-Broker Agreement enables the buyer to work with multiple real estate agents simultaneously without entering into an exclusive agreement with any one agent. This offers flexibility to buyers, allowing them to explore various options and properties with different agents. In this agreement, the buyer grants the agent permission to represent their interests in the search, negotiation, and transaction of a property. The agent, in return, agrees to provide guidance, assistance, and representation while upholding their fiduciary duties towards the buyer. This includes acting in the buyer's best interests, maintaining confidentiality, and avoiding conflicts of interest. The Agency Disclosure portion of the agreement outlines the different types of agency relationships that exist between the buyer, the agent, and the seller. It discloses whether the agent is representing the buyer solely (buyer's agent), the seller solely (seller's agent), or both parties involved in a transaction (dual agent). It is important to note that there are no different types of Non-Exclusive Buyer-Broker Agreement and Agency Disclosure specific to North Carolina. However, the agreement may have slight variations in its terms and conditions depending on individual real estate firms or agents. When entering into this agreement, key keywords to consider include: North Carolina non-exclusive buyer-broker agreement, agency disclosure, buyer representation, real estate agent, fiduciary duties, dual agency, non-exclusive representation.
