Updated April 23, 2024
A Washington buyer agency agreement is a document that contractually binds a real estate agent to seek and negotiate the purchase of property on a client’s behalf. In addition to relaying the agent’s responsibilities to the client, the contract also describes the type of property that the client wishes to purchase, as well as the compensation that they will be required to pay the agent for their services. Generally, the agent will be paid a percentage of the price of any completed purchase as a commission. Agents can also require a retainer fee to be paid when the contract is signed.
Disclosures
Agency Disclosure Form – Real estate agents are required to disclose real estate relationships to their clients before executing any agreement.[1]
Disclosed Dual Agency – Agents are only permitted to represent both buyer and seller in a transaction if all parties provide their written consent.[2]