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 Wake North Carolina Exclusive Buyer-Broker Agreement and Agency Disclosure is a legally binding document that outlines the relationship between a buyer and a real estate agent in Wake, North Carolina. This agreement establishes the agent's role as a buyer's representative, with the sole objective of protecting the buyer's interests throughout the home-buying process. The agreement ensures that the agent acts in the buyer's best interest, providing professional guidance and support. In Wake, North Carolina, there are two types of Exclusive Buyer-Broker Agreements and Agency Disclosures commonly used: 1. Exclusive Right-to-Represent Agreement: This type of agreement grants a specific real estate agent or broker the exclusive right to represent the buyer's interests. It typically defines the duration of the agreement, outlining the scope of the agent's responsibilities, including property search, negotiation, and assistance with the transaction. 2. Non-Exclusive Buyer-Broker Agreement: In contrast to the exclusive agreement, a non-exclusive agreement permits the buyer to work with multiple agents simultaneously. Although the buyer is not obligated to work solely with one agent, the chosen agent still owes a fiduciary duty to the buyer, ensuring confidentiality, loyalty, and full disclosure. Both types of agreements include an Agency Disclosure, which is a mandatory disclosure informing the buyer of their agent's role, whether it be as a dual agent (representing both the buyer and the seller), a designated agent (representing only the buyer), or as a seller's agent. This disclosure ensures transparency and enables the buyer to make informed decisions throughout the home-buying process. In summary, the Wake North Carolina Exclusive Buyer-Broker Agreement and Agency Disclosure are essential documents that protect the buyer's interests by establishing a legally binding partnership between the buyer and the real estate agent. It defines the agent's responsibilities and disclosures their agency relationship, ensuring that the buyer receives dedicated and trustworthy representation.The Wake North Carolina Exclusive Buyer-Broker Agreement and Agency Disclosure is a legally binding document that outlines the relationship between a buyer and a real estate agent in Wake, North Carolina. This agreement establishes the agent's role as a buyer's representative, with the sole objective of protecting the buyer's interests throughout the home-buying process. The agreement ensures that the agent acts in the buyer's best interest, providing professional guidance and support. In Wake, North Carolina, there are two types of Exclusive Buyer-Broker Agreements and Agency Disclosures commonly used: 1. Exclusive Right-to-Represent Agreement: This type of agreement grants a specific real estate agent or broker the exclusive right to represent the buyer's interests. It typically defines the duration of the agreement, outlining the scope of the agent's responsibilities, including property search, negotiation, and assistance with the transaction. 2. Non-Exclusive Buyer-Broker Agreement: In contrast to the exclusive agreement, a non-exclusive agreement permits the buyer to work with multiple agents simultaneously. Although the buyer is not obligated to work solely with one agent, the chosen agent still owes a fiduciary duty to the buyer, ensuring confidentiality, loyalty, and full disclosure. Both types of agreements include an Agency Disclosure, which is a mandatory disclosure informing the buyer of their agent's role, whether it be as a dual agent (representing both the buyer and the seller), a designated agent (representing only the buyer), or as a seller's agent. This disclosure ensures transparency and enables the buyer to make informed decisions throughout the home-buying process. In summary, the Wake North Carolina Exclusive Buyer-Broker Agreement and Agency Disclosure are essential documents that protect the buyer's interests by establishing a legally binding partnership between the buyer and the real estate agent. It defines the agent's responsibilities and disclosures their agency relationship, ensuring that the buyer receives dedicated and trustworthy representation.
