According to the National Association an Exclusive Buyer's Agent is an agent whose company represents only the buyer's best interests on any home the buyer wants to purchase, including homes listed by the buyer agent's company.
The Oklahoma Exclusive Buyer-Broker Agreement and Agency Disclosure is a legally binding agreement between a buyer and a real estate agent, known as a buyer's broker. This agreement establishes the commitment and obligations between the two parties throughout the real estate buying process in Oklahoma. By signing this agreement, the buyer acknowledges the representation they will receive from the buyer's broker and agrees to work exclusively with that particular agent. The Exclusive Buyer-Broker Agreement ensures that the buyer's best interests are protected during the home-buying process. The buyer's broker is legally bound to act in the buyer's best interest, provide diligent representation, and maintain confidentiality throughout the transaction. This agreement also allows the buyer to receive expert advice, guidance, and assistance from a dedicated professional who specializes in representing buyers. The Agency Disclosure portion of the agreement is designed to inform the buyer about the various types of agency relationships that can exist in a real estate transaction. In Oklahoma, there are three types of agency relationships: 1. Seller's Agent: A seller's agent, also known as a listing agent, exclusively represents the seller's interests. They have a legal obligation to work in the seller's best interest, provide them with any available information about the buyer, and negotiate the best terms for the seller. 2. Buyer's Agent: A buyer's agent, represented by the Exclusive Buyer-Broker Agreement, represents the buyer's best interest throughout the home-buying process. They assist the buyer in locating suitable properties, negotiating price and terms, and provide guidance through inspections, financing, and closing. 3. Dual Agency: Dual agency occurs when the same brokerage or agent represents both the buyer and the seller in a transaction. However, dual agency must have the informed and written consent of both parties and requires the agent to remain neutral and not favor one party over the other. It is important for buyers in Oklahoma to carefully consider the type of representation they desire and understand the obligations and responsibilities of each type of agency relationship before signing the Exclusive Buyer-Broker Agreement. By doing so, buyers can ensure they have dedicated representation and protection when navigating the real estate market in Oklahoma.The Oklahoma Exclusive Buyer-Broker Agreement and Agency Disclosure is a legally binding agreement between a buyer and a real estate agent, known as a buyer's broker. This agreement establishes the commitment and obligations between the two parties throughout the real estate buying process in Oklahoma. By signing this agreement, the buyer acknowledges the representation they will receive from the buyer's broker and agrees to work exclusively with that particular agent. The Exclusive Buyer-Broker Agreement ensures that the buyer's best interests are protected during the home-buying process. The buyer's broker is legally bound to act in the buyer's best interest, provide diligent representation, and maintain confidentiality throughout the transaction. This agreement also allows the buyer to receive expert advice, guidance, and assistance from a dedicated professional who specializes in representing buyers. The Agency Disclosure portion of the agreement is designed to inform the buyer about the various types of agency relationships that can exist in a real estate transaction. In Oklahoma, there are three types of agency relationships: 1. Seller's Agent: A seller's agent, also known as a listing agent, exclusively represents the seller's interests. They have a legal obligation to work in the seller's best interest, provide them with any available information about the buyer, and negotiate the best terms for the seller. 2. Buyer's Agent: A buyer's agent, represented by the Exclusive Buyer-Broker Agreement, represents the buyer's best interest throughout the home-buying process. They assist the buyer in locating suitable properties, negotiating price and terms, and provide guidance through inspections, financing, and closing. 3. Dual Agency: Dual agency occurs when the same brokerage or agent represents both the buyer and the seller in a transaction. However, dual agency must have the informed and written consent of both parties and requires the agent to remain neutral and not favor one party over the other. It is important for buyers in Oklahoma to carefully consider the type of representation they desire and understand the obligations and responsibilities of each type of agency relationship before signing the Exclusive Buyer-Broker Agreement. By doing so, buyers can ensure they have dedicated representation and protection when navigating the real estate market in Oklahoma.
