Wake North Carolina Agreement for Broker to Act as Agent of Buyer

• Category: Contracts - Agency
• State: Multi-State
• County: Wake
• 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. Wake North Carolina Agreement for Broker to Act as Agent of Buyer is a legally binding document that establishes a relationship between a buyer and a real estate broker. This agreement empowers the broker to act on behalf of the buyer in purchasing a property in Wake, North Carolina. The agreement outlines the responsibilities, duties, and limitations of the broker while representing the buyer's interests in property transactions. Keywords: Wake North Carolina Agreement, Broker, Agent of Buyer, real estate, property transactions, responsibilities, duties, limitations. Different types of Wake North Carolina Agreement for Broker to Act as Agent of Buyer: 1. Exclusive Right-to-Buy Agreement: This type of agreement grants the broker exclusive rights to represent the buyer in the purchase of a property. The buyer agrees not to engage with other brokers during the duration of the agreement. 2. Non-Exclusive Agreement: In this type of agreement, the buyer can work with multiple brokers simultaneously. The broker's commission is generally only paid if they successfully assist the buyer in closing a deal. 3. Exclusive Agency Agreement: This agreement gives the broker the exclusive right to represent the buyer, but allows the buyer to search for properties independently as well. The broker is entitled to receive a commission only if they procure the property that the buyer eventually purchases. 4. Open Listing Agreement: This is a non-exclusive agreement where the buyer can engage multiple brokers. The broker who brings the buyer a suitable property and assists in the transaction will be entitled to the commission. 5. Dual Agency Agreement: This agreement occurs when the broker represents both the buyer and the seller in a transaction. However, dual agency is subject to certain legal restrictions and requires the informed consent of all parties involved. In summary, the Wake North Carolina Agreement for Broker to Act as Agent of Buyer allows a real estate broker in Wake, North Carolina to serve as the buyer's representative during property transactions. The agreement outlines the specific terms, rights, and obligations for both parties involved, ensuring a transparent and lawful relationship.

Wake North Carolina Agreement for Broker to Act as Agent of Buyer is a legally binding document that establishes a relationship between a buyer and a real estate broker. This agreement empowers the broker to act on behalf of the buyer in purchasing a property in Wake, North Carolina. The agreement outlines the responsibilities, duties, and limitations of the broker while representing the buyer's interests in property transactions. Keywords: Wake North Carolina Agreement, Broker, Agent of Buyer, real estate, property transactions, responsibilities, duties, limitations. Different types of Wake North Carolina Agreement for Broker to Act as Agent of Buyer: 1. Exclusive Right-to-Buy Agreement: This type of agreement grants the broker exclusive rights to represent the buyer in the purchase of a property. The buyer agrees not to engage with other brokers during the duration of the agreement. 2. Non-Exclusive Agreement: In this type of agreement, the buyer can work with multiple brokers simultaneously. The broker's commission is generally only paid if they successfully assist the buyer in closing a deal. 3. Exclusive Agency Agreement: This agreement gives the broker the exclusive right to represent the buyer, but allows the buyer to search for properties independently as well. The broker is entitled to receive a commission only if they procure the property that the buyer eventually purchases. 4. Open Listing Agreement: This is a non-exclusive agreement where the buyer can engage multiple brokers. The broker who brings the buyer a suitable property and assists in the transaction will be entitled to the commission. 5. Dual Agency Agreement: This agreement occurs when the broker represents both the buyer and the seller in a transaction. However, dual agency is subject to certain legal restrictions and requires the informed consent of all parties involved. In summary, the Wake North Carolina Agreement for Broker to Act as Agent of Buyer allows a real estate broker in Wake, North Carolina to serve as the buyer's representative during property transactions. The agreement outlines the specific terms, rights, and obligations for both parties involved, ensuring a transparent and lawful relationship.