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STATEMENT OF AGENCY RELATIONSHIPS(NOTE: This form may be used to comply with North Carolina Real Estate Commission rules and the REALTOR Code of Ethics
requiring seller/landlord and buyer/tenant
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How to fill out statement of agency relationships

How to fill out statement of agency relationships
01
Step 1: Start by stating the names and contact information of both the principal (the person granting authority) and the agent (the person receiving authority).
02
Step 2: Clearly define the scope of the agency relationship, including the specific tasks or responsibilities that the agent is authorized to perform on behalf of the principal.
03
Step 3: Specify any limitations or restrictions on the agent's authority, if applicable.
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Step 4: Include a section outlining the duration or termination of the agency relationship.
05
Step 5: Include any compensation or commission agreements between the principal and the agent.
06
Step 6: Both the principal and the agent should carefully review and sign the statement of agency relationships.
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Step 7: Make copies of the signed statement for both parties to keep as a record.
Who needs statement of agency relationships?
01
Statement of agency relationships is needed in situations where one party wishes to grant authority to another party to act on their behalf.
02
This could include situations such as appointing a real estate agent to sell a property, hiring an attorney to represent you in legal matters, or engaging a business partner to make decisions on behalf of a company.
03
In general, anyone who wishes to delegate authority or make someone their legal representative can benefit from having a statement of agency relationships.
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What is statement of agency relationships?
The statement of agency relationships is a document that outlines the relationships between agents and their principals, clarifying the roles and responsibilities of each party involved in an agency agreement.
Who is required to file statement of agency relationships?
Typically, real estate agents, brokers, and other professionals who act on behalf of clients in transactions are required to file a statement of agency relationships.
How to fill out statement of agency relationships?
To fill out the statement of agency relationships, you must provide details such as the names of the parties involved, the nature of the agency relationship, and any disclosures required by law, ensuring all information is accurate and complete.
What is the purpose of statement of agency relationships?
The purpose of the statement of agency relationships is to ensure transparency in the agency relationship, protect the interests of all parties, and fulfill legal requirements set by regulatory authorities.
What information must be reported on statement of agency relationships?
The information that must be reported includes the names and contact information of the principal and agent, the type of agency relationship, disclosure of any conflicts of interest, and signatures of involved parties.
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