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DUAL AGENCY ADDENDUM This DUAL AGENCY ADDENDUM hereby modifies the attached (check the appropriate box): NEAR Form #530 (Exclusive Buyer/Tenant Representation Agreement) NEAR Form #532 (Nonexclusive

How to fill out dual agency addendum

How to fill out dual agency addendum?

1. Read and understand the dual agency addendum form thoroughly before starting to fill it out.
2. Identify the parties involved in the real estate transaction, including the buyer, seller, real estate agents, and brokers.
3. Clearly specify the property address and any other relevant details in the designated sections of the addendum.
4. Provide the names and contact information of the participating real estate agents and brokers.
5. Indicate the agreed-upon commission rates, terms, and conditions for both the listing agent/broker and the buyer's agent/broker.
6. Sign and date the addendum, ensuring that all parties involved also sign and date it.
7. Make copies of the completed addendum for each party involved, including the buyer, seller, agents, and brokers.
8. Submit the original addendum to the designated entity, such as the real estate agency or the title company, as required.

Who needs dual agency addendum?

1. Dual agency addendum is needed when there is a situation in a real estate transaction where the same real estate brokerage or agent represents both the buyer and the seller.
2. It is necessary to have a dual agency addendum to document the disclosure and agreement between all parties involved in such situations.
3. In some jurisdictions, a dual agency addendum is required by law to ensure transparency and protect the interests of all parties in the transaction.

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What is dual agency addendum?

Dual agency addendum is a document that discloses the relationship between a real estate agent and both the buyer and seller in a real estate transaction.

Who is required to file dual agency addendum?

Real estate agents who are representing both the buyer and seller in a real estate transaction are required to file dual agency addendum.

How to fill out dual agency addendum?

Dual agency addendum should be filled out by providing all relevant information about the real estate agent, buyer, and seller involved in the transaction.

What is the purpose of dual agency addendum?

The purpose of dual agency addendum is to disclose and clarify the potential conflicts of interest that may arise when a real estate agent represents both parties in a transaction.

What information must be reported on dual agency addendum?

The dual agency addendum must report details such as the names of the real estate agent, buyer, and seller, the property address, and the terms of the transaction.