Updated December 27, 2022
A Michigan buyer agency agreement is a contract that establishes the terms of the relationship between a real estate agent and their client, an individual intent on purchasing real estate. This agreement will outline the services to be performed by the agent, the length of the agreement (typically 3-12 months), and any fees/compensation associated with the arrangement. Most of the time an agent will receive compensation when they help the buyer find a property, other times they may charge a fee regardless of a successful real estate transaction. A buyer agency agreement should be looked over carefully before being duly executed.
Disclosures
Agency Disclosure Form (§ 339.2517) – Before entering into an agency relationship, real estate agents must present clients with this disclosure form to look over and sign. This form also allows the agent to represent both buyer and seller in a real estate transaction (dual agency).
Realtor Version
Michigan Realtors – Adobe PDF (Traditional Agency)
Michigan Realtors – Adobe PDF (Designated Agency)