Updated December 27, 2022
A Maryland buyer agency agreement is used to define the relationship between a real estate agent and a person interested in purchasing real estate. The agent will represent the buyer by searching for properties within the buyer’s price range and geographical preferences, communicating with sellers and other agents, and negotiating a fair sale price. The terms of the agreement can be negotiated between the parties before signing the document. Buyer agency agreements may remain in effect for months or even a year and should be looked over carefully by the buyer before signing.
Disclosures
Agency Disclosure Form (§ 17-530) – Before signing a contract, such as a buyer agency agreement, a potential client must be provided with this disclosure form to ensure they understand the relationships between client and agent.
Consent for Dual Agency (§ 17-530.1) – If a real estate agent intends on representing both buyer and seller in a real estate transaction, this dual agency consent form must be read and signed by all parties.