Updated April 23, 2024
A New Jersey buyer agency agreement is a document that relays the terms and conditions of a business relationship between the buyer of real estate and the broker/agent representing them in future transactions. The buyer agent should work with their client’s best interests in mind; it is through an agency agreement that this loyalty can be guaranteed. Their job is to locate properties within the buyer’s price range, negotiate the cost, and close the deal while collecting a commission for the sale (usually paid for by the seller and split with the seller’s agent).
Disclosures
Consumer Information Statement on New Jersey Real Estate Relationships – This form must be delivered by the licensee to clients to disclose how they intend to work with buyers and sellers in a real estate transaction.[1]
Dual Agency – A licensee must get the consent of both parties should they wish to act as a dual agent in a real estate transaction.[2]
Realtor Version
New Jersey Association of Realtors Standard Form Exclusive Buyer Agency Agreement – PDF