Updated April 23, 2024
A Kansas buyer agency agreement, also referred to as a buyer representation agreement, is a contract that outlines the relationship between a buyer and a real estate agent. The agency will commit to helping the buyer find potential properties to purchase within their price range and geographical preference. The buyer agrees that the agent will receive a commission based on the sale price of the property. Some agreements may provide compensation to the agent even if the buyer does not purchase any real estate. This type of contract typically lasts for three to twelve months before it is terminated.
Disclosures
Real Estate Brokerage Relationships Disclosure – It is mandatory for real estate agents to present this disclosure form to their clients and have them sign it before representing them.[1]
Transaction Broker Addendum – Dual agency relationships are not legal in Kansas; however, the parties may choose to designate a brokerage firm to act as a transaction broker, a neutral party acting as a mediator in a real estate transaction.[2]