Updated April 23, 2024
A North Carolina buyer agency agreement is a document used to bind an agent and a buyer of real estate to the terms relayed therein. The agreement ensures that the agent will receive whatever fees and commission are owed to them, while providing the buyer with the peace of mind of knowing that the licensee will operate with the clients’ best interests at heart. Provisions such as the effective term of the agreement, compensation, and conflict of interest processes are all relayed in the buyer agency agreement to ensure all parties are satisfied.
Disclosures
Agency Disclosure Form – At the first substantial contact with their potential clients, the licensee must present the “Working With Real Estate Agents” pamphlet and review the pamphlet with the individual.[1]
Dual Agency – If the agent plans on operating as a dual agent, he/she must receive the written consent of both buyer and seller first.[2]