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MAKES NO REPRESENTATION AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. CLIENT FIRM Individual Name of Firm Name Page 1 of 2 North Carolina Association of REALTORS Inc. STANDARD FORM 551 Adopted 1/2011 7/2017 Business Entity Name of Entity Title. DESIGNATED AGENCY ADDENDUM This DESIGNATED AGENCY ADDENDUM hereby modifies the attached check the appropriate box NCAR Form 530 Exclusive Buyer/Tenant Representation Agreement NCAR Form 531...
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01
Read the designated agency addendum carefully to understand its purpose and requirements.
02
Gather all the necessary information and documents needed to complete the addendum.
03
Start by filling out the header section of the addendum, which includes the names of the parties involved, the date, and the property address.
04
Follow the instructions provided in the addendum to fill out each section accurately.
05
Provide any additional information or disclosures required by the addendum, such as agency relationships and obligations.
06
Review the completed addendum for any errors or omissions before signing and dating it.
07
Make copies of the addendum for all parties involved, including the buyer, seller, and real estate agents.
08
Attach the addendum to the original agreement and keep it as part of the official documentation.

Who needs designated agency addendum?

01
Buyers and sellers involved in a real estate transaction may need a designated agency addendum.
02
Real estate agents representing buyers and sellers may also require the use of a designated agency addendum.
03
In some jurisdictions, it may be a legal requirement to use a designated agency addendum to ensure proper disclosure and protection of interests.
04
If the designated agency addendum is a standard practice in a specific region or industry, anyone involved in real estate transactions in that area may need to use it.
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Designated agency addendum is a form used in real estate transactions when a designated agent is representing both the buyer and the seller.
The designated agent and the parties involved in the real estate transaction are required to file the designated agency addendum.
The designated agency addendum should be completed by providing the necessary information such as the names of the parties, property address, and signatures.
The purpose of designated agency addendum is to disclose the dual representation by the designated agent and ensure transparency in the real estate transaction.
The designated agency addendum must report details of the dual representation, including any potential conflicts of interest and how they will be managed.
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2017 2011 North_Carolina ncar licensees modifies adequacy authorizes exclusion realtors applicable addendum employs validity designate whereby provision disclosed undertake arises dual possesses entity listing

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