Updated August 02, 2023
A Minnesota buyer agency agreement is a legal document outlining the terms of the relationship between a real estate agent and a buyer of real estate. The buyer will have a price range and a certain geographical area in which they wish to search for property. The agency agreement details the services to be performed by the agent, such as exploring listings, researching properties, and communicating with other realtors and sellers. The agent will receive their commission when they help the buyer close the sale of a property or, in some cases, upon the termination of the agreement regardless of a sale.
Disclosures
Agency Disclosure Form (§ 82.67) – Before a client is represented by a real estate agent, they are merely a customer and must be made aware of the types of agency relationships available to them. They become a client only when a listing agreement or buyer representation agreement is signed.
Realtor Version
Minnesota Assoc. of Realtors – PDF (Nonexclusive)
Minnesota Assoc. of Realtors – PDF (Exclusive)