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.
A Philadelphia Pennsylvania Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a legally binding contract between a buyer and a real estate agent or broker. This agreement outlines the terms and conditions under which the agent or broker will represent the buyer in their pursuit of purchasing a property in Philadelphia, Pennsylvania. Keywords: Philadelphia Pennsylvania, Non-Exclusive Buyer-Broker Agreement, Agency Disclosure, real estate agent, real estate broker, buyer representation. The purpose of this agreement is to establish the relationship between the buyer and the agent or broker, outlining their duties and obligations. It is important to understand that this agreement does not exclusively bind the buyer to work with a specific agent or broker, allowing them the freedom to seek representation from other professionals if they wish. In this agreement, the agent or broker is referred to as the buyer's representative, responsible for assisting the buyer throughout the entire real estate transaction process in Philadelphia, Pennsylvania. The agent or broker will provide guidance, advice, and expertise to help the buyer find and negotiate the purchase of a suitable property. They will utilize their local market knowledge and experience to identify potential properties that meet the buyer's needs and preferences. The agreement also includes a detailed explanation of agency relationships, ensuring full disclosure and transparency. It outlines the different types of agency relationships that can exist between the buyer and the agent or broker. These relationships may include: 1. Seller's Agents: These agents work for the seller and represent the seller's interests. They have a fiduciary duty to the seller to obtain the best possible terms and conditions for the sale of the property. 2. Buyer's Agents: These agents work exclusively for the buyer and represent the buyer's interests. They have a fiduciary duty to the buyer to protect their interests, negotiate favorable terms, and provide objective advice throughout the buying process. 3. Dual Agents: In some cases, an agent or broker may represent both the buyer and the seller in the same transaction. This dual agency relationship requires the agent or broker to remain neutral, not favoring one party over the other. The Philadelphia Pennsylvania Non-Exclusive Buyer-Broker Agreement and Agency Disclosure also cover important aspects such as compensation, duration of the agreement, termination clauses, and dispute resolution procedures. It is crucial for both the buyer and the agent or broker to carefully review and understand the terms of the agreement before entering into it. By signing this agreement, the buyer acknowledges that they have been provided with the necessary information regarding agency relationships and their rights and obligations as a buyer in Philadelphia, Pennsylvania's real estate market. The agreement serves as a legal safeguard for both parties, helping to ensure a smooth and transparent real estate transaction process.A Philadelphia Pennsylvania Non-Exclusive Buyer-Broker Agreement and Agency Disclosure is a legally binding contract between a buyer and a real estate agent or broker. This agreement outlines the terms and conditions under which the agent or broker will represent the buyer in their pursuit of purchasing a property in Philadelphia, Pennsylvania. Keywords: Philadelphia Pennsylvania, Non-Exclusive Buyer-Broker Agreement, Agency Disclosure, real estate agent, real estate broker, buyer representation. The purpose of this agreement is to establish the relationship between the buyer and the agent or broker, outlining their duties and obligations. It is important to understand that this agreement does not exclusively bind the buyer to work with a specific agent or broker, allowing them the freedom to seek representation from other professionals if they wish. In this agreement, the agent or broker is referred to as the buyer's representative, responsible for assisting the buyer throughout the entire real estate transaction process in Philadelphia, Pennsylvania. The agent or broker will provide guidance, advice, and expertise to help the buyer find and negotiate the purchase of a suitable property. They will utilize their local market knowledge and experience to identify potential properties that meet the buyer's needs and preferences. The agreement also includes a detailed explanation of agency relationships, ensuring full disclosure and transparency. It outlines the different types of agency relationships that can exist between the buyer and the agent or broker. These relationships may include: 1. Seller's Agents: These agents work for the seller and represent the seller's interests. They have a fiduciary duty to the seller to obtain the best possible terms and conditions for the sale of the property. 2. Buyer's Agents: These agents work exclusively for the buyer and represent the buyer's interests. They have a fiduciary duty to the buyer to protect their interests, negotiate favorable terms, and provide objective advice throughout the buying process. 3. Dual Agents: In some cases, an agent or broker may represent both the buyer and the seller in the same transaction. This dual agency relationship requires the agent or broker to remain neutral, not favoring one party over the other. The Philadelphia Pennsylvania Non-Exclusive Buyer-Broker Agreement and Agency Disclosure also cover important aspects such as compensation, duration of the agreement, termination clauses, and dispute resolution procedures. It is crucial for both the buyer and the agent or broker to carefully review and understand the terms of the agreement before entering into it. By signing this agreement, the buyer acknowledges that they have been provided with the necessary information regarding agency relationships and their rights and obligations as a buyer in Philadelphia, Pennsylvania's real estate market. The agreement serves as a legal safeguard for both parties, helping to ensure a smooth and transparent real estate transaction process.
