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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
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How to fill out this dual agency addendum
How to fill out this dual agency addendum:
01
Start by carefully reading through the dual agency addendum document. Make sure you understand all the terms and conditions mentioned in it.
02
Begin by providing your personal information. Fill in your name, contact details, and any other requested information accurately.
03
If you are representing yourself, you will need to fill in your own information in both the buyer and seller sections. If you are representing a buyer or a seller, make sure to provide their information accurately as well.
04
Next, you need to specify the property details. Include the address, legal description, and any other relevant information about the property involved in the transaction.
05
Check if there are any additional provisions or agreements that need to be included in the addendum. If so, carefully review and fill in those sections according to the instructions provided.
06
Make sure to sign and date the addendum on the designated lines. Also, check if any witnesses or notary public signatures are required.
07
Review the completed addendum for any errors or omissions. It is crucial to ensure that all the information provided is accurate and reflects the agreed-upon terms between the parties involved.
Who needs this dual agency addendum:
01
Real estate buyers and sellers who are represented by the same brokerage firm or agent may need this dual agency addendum. In some cases, this document is used when an agent within the same brokerage represents both the buyer and seller in a transaction.
02
Dual agency arises when there is a conflict of interest due to the agent or brokerage representing both parties. This addendum helps to disclose and address this conflict, outlining the rights and responsibilities of all parties involved.
03
It is important to note that the legality and availability of dual agency may vary based on local regulations. Therefore, it is advised to consult with a professional real estate attorney or agent to determine if the use of a dual agency addendum is necessary and appropriate in your specific situation.
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What is this dual agency addendum?
The dual agency addendum is a document that discloses when a real estate agent represents both the buyer and the seller in a transaction.
Who is required to file this dual agency addendum?
The real estate agent who is representing both the buyer and the seller in a transaction is required to file this dual agency addendum.
How to fill out this dual agency addendum?
The dual agency addendum should be filled out with all relevant information about the transaction, including the names of the parties involved and the terms of the agreement.
What is the purpose of this dual agency addendum?
The purpose of the dual agency addendum is to provide transparency and disclose any potential conflicts of interest that may arise when an agent represents both parties in a transaction.
What information must be reported on this dual agency addendum?
The dual agency addendum must include information about the property being bought or sold, the names of the buyer and seller, and the terms of the agreement.
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