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Indiana Buyer Agency Agreement

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Indiana Buyer Agency Agreement

Updated December 27, 2022

An Indiana buyer agency agreement allows a buyer of real estate to procure the services of a licensed agent in exchange for a percentage of the sale. The licensee will investigate properties and find purchasing opportunities that satisfy the buyer’s preferences and financial needs. Upon discovering a suitable property, the licensee will negotiate terms with the seller until a mutual agreement is made. Only after the transaction is settled will payment be provided in the form of commission. In most scenarios, the seller is represented by a separate agent which results in a split commission between the two (2) parties.

Disclosures

Agency Disclosure Form (IC 25-34.1-10-11(a)(2)) – Real estate agents are required to disclose the nature of the agency relationship to the buyer. If the relationship changes, a redefined disclosure must be provided.

Limited (“Dual”) Agency (IC 25-34.1-10-12 & IC 25-34.1-10-7) – If the real estate agent intends to serve both the buyer and seller in a real estate transaction, a written consent form must be signed by each party.