Updated March 24, 2023
A Montana buyer agency agreement is a document that allows two parties, a real estate agent and a person looking to purchase property, to enter into a legal, temporary relationship. This relationship consists of the agent providing their services, researching and exploring property options, and communicating with realtors/owners in exchange for fair compensation. The amount of compensation, types of property and locations, length of the agreement, and termination options can be negotiated by the parties before these provisions are included in the agreement. Both parties are bound to the agreement until the conclusion of the contract or until a property is purchased.
Disclosures
Agency Disclosure Form (§ 37-51-314) – This disclosure form must be provided to any prospective clients of a real estate agent before any legal contract is signed. It educates prospective clients in the types of agency relationships available to them.
Dual Agency (§ 37-51-314) – Dual agency is a type of agency relationship wherein the agent represents both parties, buyer and seller, in a real estate transaction. The Agency Disclosure Form can be used to obtain consent from both parties before an agency agreement is signed.