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North Dakota Buyer Agency Agreement

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North Dakota Buyer Agency Agreement

Updated December 27, 2022

North Dakota buyer agency agreement is a written contract between a real estate broker and a buyer or real estate. It details their working relationship, including the compensation or commission paid to the broker/agent, a definitive expiration date, and a clear description of the services provided by the broker. Even though it is often the case that the seller’s broker will pay any owed commission to the buyer’s agent, the licensee is legally required to operate with the buyer’s best interests in mind; the buyer agency agreement can provide that security for the client.

Disclosure

Agency Disclosure Form (§ 70-02-03-15.1.2) – A real estate broker must supply their client with an agency disclosure form upon first contact before they are permitted to work for that individual.

Disclosed Dual Agency (§ 70-02-03-15.1.7) – It is mandatory that both parties provide written consent to dual agency should the agent choose to represent both parties.