Coldwell Banker Buyer`s Agent Agreement: Important Facts You Need to Know
Buying a property can be a complicated process, and it`s important to have someone on your side to help you navigate through it. That`s where a buyer`s agent comes in – they work to protect your interests during the home-buying process and ensure you get the best deal possible. Coldwell Banker is one of the most reputable real estate companies in the world, and their buyer`s agent agreement is an essential document for anyone looking to buy a property through them. Here are some important facts you need to know about the Coldwell Banker buyer`s agent agreement.
What is a Buyer`s Agent Agreement?
A buyer`s agent agreement is a legal contract between a buyer and their agent. It outlines the duties and responsibilities of the agent, as well as the terms of their compensation. The agreement also specifies the duration of the agreement, which is typically between three and six months.
The Coldwell Banker buyer`s agent agreement is similar to other agreements in that it defines the roles and responsibilities of the agent and the buyer. However, it also includes additional clauses that are specific to Coldwell Banker, which we will discuss below.
What Does the Coldwell Banker Buyer`s Agent Agreement Cover?
The Coldwell Banker buyer`s agent agreement covers the following areas:
1. Representation
The agreement establishes that the buyer`s agent represents the buyer and that they will work in their best interests throughout the home-buying process.
2. Termination
The agreement specifies the conditions under which either party can terminate the agreement. For example, the buyer may terminate the agreement if they are not satisfied with the agent`s performance, or the agent may terminate the agreement if the buyer violates any of the terms.
3. Compensation
The agreement specifies the compensation that the buyer`s agent will receive for their services. In most cases, the agent`s commission is paid by the seller, but the agreement outlines the circumstances under which the buyer may be responsible for paying the agent`s commission.
4. Disclosure
The agreement includes a section on disclosure, which requires the agent to disclose any conflicts of interest or personal relationships that may affect their ability to represent the buyer.
What Makes the Coldwell Banker Buyer`s Agent Agreement Unique?
The Coldwell Banker buyer`s agent agreement includes some unique clauses that are specific to the company. Here are a few examples:
1. Dual Agency
Dual agency occurs when the same agent represents both the buyer and the seller in a real estate transaction. The Coldwell Banker buyer`s agent agreement includes a clause that allows for dual agency in certain circumstances. However, it also specifies that the agent must obtain written consent from both parties before proceeding with dual agency.
2. Marketing
The Coldwell Banker buyer`s agent agreement includes a section on marketing, which outlines the various ways that Coldwell Banker will promote the buyer`s property. This includes online advertising, open houses, and print media.
3. International Transactions
If the buyer is purchasing a property in a foreign country, the Coldwell Banker buyer`s agent agreement includes additional clauses that apply to international transactions. This includes provisions for currency exchange, tax implications, and legal representation.
Conclusion
The Coldwell Banker buyer`s agent agreement is an important document for anyone looking to buy a property through the company. It provides a clear understanding of the roles and responsibilities of the agent and the buyer, and it outlines the terms of their compensation. With the unique clauses included in the Coldwell Banker buyer`s agent agreement, buyers can be assured that they are receiving specialized services from one of the most reputable real estate companies in the world.