Az Buyer Broker Agreement

The buyer-broker agreement that best suits your scenario depends on where you live and the agent you want to help in your home search. Whichever type of agreement you choose, McKnight recommends that buyers carefully adhere to the periods of compensation and termination of the contract before signing on the points line. And talk to your agent if you have any questions; Remember that the buyer-broker agreement exists to protect both of you. This section describes the exclusive rights to which the buyer agrees. Gone are the days when a simple handshake could consolidate a working agreement between a buyer and his real estate agent. If the acquisition parameters limit the contract to real estate in a particular county and you decide to buy in a neighboring county, you are not bound by the terms of your buyer-broker contract. The buyer-broker agreement is binding on both parties, so it can be difficult to get out of it. If you request the release and the broker does not agree, the next steps vary depending on the terms of the contract. Buyer-broker agreements differ in language from state to state, but the California Association of Realtors form provides an example of a common language and rules. In this contract, the buyer-broker relationship is defined by the following obligations: Non-exclusive non-remuneration contracts can be broken at any time either by the buyer or by the agent.