Understand the relationship before you start negotiating for a house. A buyer agency agreement is a document to read and discuss, not a form to skim on the way to a showing.
What should you ask before signing?
Ask who represents you, what services are included, how long the agreement lasts, and which properties or areas it covers. Read the compensation provisions and any limits. Get answers before you need to rely on the agreement.
How is an agency disclosure different?
An agency disclosure explains possible relationships; a representation agreement sets the working terms. Review both with the broker. Don’t assume receiving a disclosure means you have signed a representation agreement.
What should you understand about compensation?
Ask how compensation is calculated, when it is earned or payable, and how any third-party payment is handled. Read the written terms instead of assuming a seller will cover every amount. A North Carolina attorney can address legal interpretation.
How can you change or end the relationship?
Read the term, termination, and any protection provisions before signing. Ask how concerns are handled and what happens if you want a different agent. A verbal understanding should not replace the written terms.
Where can you read more about agency?
Review the NCREC agency disclosure update and the Commission’s consumer publications. Use the current documents your broker provides for your transaction.