Updated April 23, 2024
A Maine buyer agency agreement is a contract between a real estate brokerage (usually one specific agent) and an individual interested in purchasing real estate (buyer). The agreement contains certain rights, responsibilities, and obligations of the agent and buyer, the length of the agency relationship, and the amount of compensation to be provided to the agent after closing a sale. An agent can help a buyer by looking at listings, communicating with sellers and their agents, and negotiating a fair price for their client. Potential clients would be wise to look over all provisions of the document before signing to ensure they are content with their long-term commitment.
Disclosures
Brokerage Relationship Disclosure – Real estate agents must provide this form to and obtain a signature from any client (buyer or seller) before representing them.[1]
Disclosed Dual Agency – Agents intent on representing both buyer and seller in a real estate transaction must obtain written consent of all parties.[2]