BUYER REPRESENTATION AGREEMENT
(“Buyer”)
grants to COLDWELL BANKER REALTY (“Broker”) the exclusive (or, ☐ if checked, non-exclusive) right to serve as Buyer’s real estate broker to assist Buyer in purchasing real property described in Paragraph 2 (the “Property”). Buyer represents that they do not have any active exclusive representation agreement(s) with any other broker(s), and also represents that they do not have any non-exclusive representation agreement(s) with any other broker(s) except the following:
Buyer and Broker are at times referred to herein as the “Parties. ” The Parties agree to the following terms as follows:
1. TERM. This Buyer Representation Agreement (“Agreement”) begins on the date that all Parties have signed it. It terminates at 11:59 p.m. on ______________ (not to exceed 90 days), unless earlier terminated in writing at any time by a Broker branch manager or by a writing signed by Buyer and a Broker branch manager (“Term”).
2. TYPEOFPROPERTY.Brokerwillsearchforpropertybasedonthefollowingcriteria,suchaslocation(s),pricerange(s), address(es), type(s), feature(s), other specified criteria:
or any property in which there was Broker Involvement.
3. BUYER AGREEMENT TO AGENCY RELATIONSHIPS AND BROKER’S OBLIGATIONS. The Parties agree that Broker shall diligently exercise reasonable skill and care to achieve the purpose of this Agreement; and that Broker’s and its Agent’s respective duties to Buyer are limited to the descriptions within the “Disclosure Regarding Real Estate Agency Relationship” form. Broker is not a qualified professional concerning technical advice regarding the physical condition of Property, nor in other areas of expertise, such as the law, insurance, tax, financing, construction, surveying, structural conditions, septic, well, hazardous materials, or engineering. Buyer shall hire and rely upon qualified professionals for such matters.
NOTICE: The amount or rate of real estate commissions is not fixed by law. They are set by each Broker individually and may be negotiable between the Parties and others.
4. COMMISSION TO BROKER. Buyer agrees to pay Broker commission for each Property purchase contract formed duringtheTermasfollowsatthecloseofescrow: %ofthetotalpurchaseprice(the“Commission”),lessanyamounts BrokerreceivesforBuyer brokerageservicesfromanother,asdiscussedbelow,regardlessof whetherthetransactioncloses escrowduringoraftertheTerm BrokerwillnotacceptcompensationontheBuyer’ssideofthetransactionfromanysource that exceeds the amount of the Commission.
IfBuyeragreestoexclusiverepresentation,BrokerisentitledtotheCommissionifBuyerpurchasesPropertywithorwithout Broker Involvement. If Buyer agrees to non-exclusiverepresentation, Broker is entitledtothe Commissionfor any Property purchasefor which there was Broker Involvement, which includes any of thefollowing: (i) if Brokershowed the Propertyto Buyer in person or virtually; (ii) if Broker submitted Buyer’s offer; (iii) if Broker reviewed Property-specific documents for Buyer’s benefit; (iv) if Brokerassisted Buyerin analyzing the Property; or (v)if Broker communicated withsellerorseller’s agent about the Property on Buyer’s behalf (“Broker Involvement”).
5. COMMISSION PAYMENTS FROM OTHERS:
A. At Buyer’s request, Broker will conduct a Property search for Buyer based on the criteria Buyer provides such as price range, property type, features, location, and any additional criteria Buyer specifies. Some properties that are available for sale may include an offer of compensation (“Compensation Offer”) to a buyer’s broker (including Broker) from the seller (“Seller”) or listing broker (“Listing Broker”). A Compensation Offer may be lower, higher, or the same as the amount of the Commission that Buyer agrees to pay Broker in paragraph 4. Other properties may not include any
Compensation Offer. Broker willinform Buyer of all propertiesthat reasonably meetBuyer’s search criteria regardless ofanyCompensationOffer,whichwillprovideBuyerwiththegreatestexposuretoavailableproperties,butwhichmay also obligate Buyer to pay all or part of the Commission at closing. If Buyer purchases a Property, the amount that Buyer owes Broker under paragraph 4 will be reduced by the amount of the Compensation Offer received by Broker on Buyer's side of the transaction.
B. Buyerhastheoption,inBuyer’ssolediscretion,todirectBrokernottoshowPropertiesthathaveaCompensationOffer of less than ____%. If Buyer selects that option, initial here: ___ / [Buyer Initials]
C. Buyer may include a provision in Buyer’s purchase offer to the Seller that requests the Seller pay to Broker an amount that reduces or eliminates Buyer’s obligation to pay the Commission in paragraph 4, which Seller may or may not accept. If accepted by the Seller, Buyer should ensure that the Seller’s agreement to pay any part of the Commission is included in Buyer’s final sales contract. Any Seller concessions that are offered and agreed to will first be applied to payment of any unpaid portion of the Commission at closing. If Broker is also the Listing Broker, the list side commissionpaidtoBroker bytheSellerisnotincludedincalculatingtheamount paidtoBrokerat closingforpurposes of reducing any portion of the Commission that Buyer may owe to Broker.
D. If Broker provides, within 7 days of any termination of this Agreement, written notice to Buyer of a Propertyfor which there was Broker Involvement, then if Buyer purchases any such Property within ___ days (not to exceed 180 days) of any termination of this Agreement, then Buyer will owe Broker the Commission.
6. ESCROW INSTRUCTIONS. Buyer irrevocably assigns to Broker the Commission from Buyer’s funds in escrow. This Agreement may be submitted to escrow as instructions to compensate Broker. Buyer agrees to execute and deliver any further escrow instructions irrevocably assigning Broker’s compensation out of escrow.
7. MODIFICATIONOR AMENDMENT.The Partiesfurther agreethat thisAgreement may only bemodifiedor amended in writing signed by all Parties
8. COUNTERPARTS AND ELECTRONIC TRANSMISSION. This Agreement, any modification, and any related addenda may be executed in two or more counterparts, with any electronic signatures and/or electronic transmissions of a signed copy of this Agreement being considered the same as an original/delivery of an original.
9. ENTIRE AGREEMENT. Except for any obligation Buyer may have under any written limited services representation agreement with Broker (which survives), this Agreement, any related addenda, and the above-referenced form documents contain the complete and exclusive statement of its terms; any and all prior or contemporaneous discussions, negotiations, representations, and agreements of the Parties, whether oral, written, expressed, or implied, that are not expressly set forth herein, are merged into and superseded by the terms of this Agreement.
The Parties acknowledge that they have read and agree to all of the above terms and conditions. If a legally authorized signer for Buyer, that person represents and warrants that all individuals who must sign on behalf of Buyer have signed this Agreement and have authority to bind Buyer to the terms of this Agreement.
Buyer: Date: Buyer: Date:
Buyer Telephone Number: Address: Coldwell Banker Realty:
Sales Associate License No.:
Date:
SELLER’S PAYMENT TO BUYER’S BROKER ADDENDUM TO REAL ESTATE PURCHASE CONTRACT
This is an Addendum to the Contract dated __________________ between the following Parties:
Seller:
Buyer: Property Address:
The following additional terms and conditions are hereby included as part of the Contract between the Seller and Buyer for the above referenced Property. The terms of this Addendum are hereby incorporated as part of the Contract, and to the extent the terms of this Addendum modify or conflict with any provisions of the Contract, including all prior addenda and counteroffers, these terms shall control.
Seller’s Payment to Buyer’s Real Estate Brokerage. Seller agrees to pay _________% or $________ of the Purchase Price as shown on the final Settlement Statements signed at Close of Escrow (“COE”) to Buyer’s Brokerage. Buyer represents that Buyer has signed a representation agreement with Buyer's Broker and that the sum of the amount the Seller agrees to pay to Buyer's Brokerage in this Addendum in addition to any other compensation offered by the Seller’s Brokerage to Buyer's Brokerage shall not be more than the amount Buyer is obligated to pay to Buyer's Broker under that representation agreement. The provisions of this Addendum shall survive Closing.
The Seller's Payment to Buyer's Broker is due at close of escrow. Seller irrevocably authorizes the escrow/closing agent to pay the Seller's Payment amount to Buyer's Broker at close of escrow from Seller's transaction proceeds.
All other terms of the Contract, including all prior addenda and counteroffers, not modified by this Addendum shall remain the same.
The undersigned parties agree to the additional terms and conditions set forth above as evidenced by their signatures below and acknowledge receipt of a copy hereof.
Seller Date
Seller Date
1.WHENSELLERSLISTTHEIRPROPERTYFORSALETHROUGHAREALESTATEBROKERTHEY AGREETOPAYTHESELLER'SBROKERWHENESCROWCLOSES.
A.LISTINGAGREEMENTCOMPENSATIONISFULLYNEGOTIABLE: Whenasellerentersintoa listingagreementwithabroker,thesellerauthorizesthebrokertofindabuyerfortheseller'sproperty andagreestopaytheseller'sbrokerifabuyerisfoundwhopurchasestheproperty.Compensation amountsarenotfixedbylawandarefullynegotiablebetweenthesellerandtheseller'sbroker.When negotiatingcompensation,thepartiesmaydiscussfactorssuchasthebroker'sexpertiseand experience,thetypeofbrokerservicestobeperformed,andthebroker'stimeandexpenses,among otherconsiderations.
B.OPTIONALADDITIONALCOMPENSATIONIFBUYERISUNREPRESENTED: Alistingagreement mayincludeoptionaladditionalcompensationamountsowedtotheseller'sbrokerforsituationswhere thebrokertakesonadditionalresponsibilitiesorworkload.Sometimesabuyermaynotbeworkingwith norwanttoberepresentedbyarealestatebroker.Whenthathappens,theseller'sbrokerisnot requiredtorepresentthebuyer,andthesellerandseller'sbrokermaydecidethattheydonotwantto createsucharelationship.Inthosesituations,theseller'sbrokerisadvisedtouseaBuyerNon-Agency (C.A.R.FormBNA)toinformthebuyerthattheseller'sbrokerwillbeactingonbehalfoftheselleronly, andnotactasthebuyer'sagent,throughoutthetransaction.However,becausethebuyeris unrepresented,theseller'sagentwillinevitablyhavetodomoreworktofacilitatethetransaction.A sellermayagreetocompensatetheirbrokerfortheadditionalworkinsuchcases.
C.BROKERMAYREPRESENTBOTHBUYERANDSELLER;DUALAGENCY: Californialawallowsa brokeragecompanytorepresentbothsellerandbuyerinarealestatetransaction.Atthetimethe agent,onbehalfofabrokerage,obtainsthesignatureofaselleronalistingagreement,theagentwill not,inmostcases,knowwhotheeventualbuyerwillbeforaseller'sproperty.Similarly,atthetimean agent,onbehalfofabrokerage,obtainsthesignatureofabuyeronabuyerrepresentationagreement, theagentwillnot,inmostcases,knowwhotheeventualsellerwillbeforapropertythebuyerwantsto buy.Becausemanyindividuallicenseesmayworkthroughonebrokeragecompany,andsome individuallicenseesworkwithmanybuyersandsellers,thereisapossibilitythatthesamebrokerage companywillrepresentbothbuyerandsellerinatransaction.Iflicenseesworkingthroughbroker representbothsellerandbuyer,brokerisallowedtoreceivecompensationfromeach,providedthe sellerandbuyerareadvisedoftherelationshipandthetotalamountofcompensationthebrokerwill receive.
2.BROKERAGREEMENTSWITHBUYERS:
A.BUYERREPRESENTATIONCOMPENSATIONISFULLYNEGOTIABLE: Whenabuyerentersintoa representationagreementwithabroker,thebuyerauthorizesthebrokertolocatepropertiesforthe buyertobuyandagreestopaythebuyer'sbrokerifatransactioniscompleted.Compensationamounts arenotfixedbylawandarefullynegotiable.Whennegotiatingcompensation,thepartiesmaydiscuss factorssuchasthebroker'sexpertiseandexperience,thetypeofbrokerservicestobeperformed,and thebroker'stimeandexpenses,amongotherconsiderations.
B.REQUIREMENTFORWRITTENAGREEMENTS: Pursuanttoanationwideclassactionsettlement reachedbytheNationalAssociationofREALTORS®(NAR),participantsinMultipleListingServices arerequiredtohaveawrittenagreementwithabuyerpriortoshowingabuyeraresidentialpropertyor givingabuyeratourofsuchaproperty.Theagreementmustidentifytheamountofcompensationto bepaidtothebrokerforservicesprovidedandrequirethatthebrokercannotreceiveanycompensation inexcessoftheamountspecifiedintheagreement.Pursuanttolegislationexpectedtobecomelawin CaliforniaonJanuary1,2025,alllicenseesshowingabuyeranytypeofpropertywillberequiredto haveawrittenagreementwiththatbuyerpriortotheshowing.
C.ADVANTAGESOFWRITTENAGREEMENTS: Buyersandtheirbrokersbenefitwhenthetermsof theirrelationshipandrespectivedutiesareinwriting.Awrittenagreementestablishesclear,mutual expectationsandhelpsavoidmisunderstandingsoverthebuyerandbroker'sdutiesandtheamountof compensationthebuyer'sagentistobepaid.
3.WHENENLISTINGAREALESTATEBROKERTOREPRESENTTHEM,BUYERSAGREETOPAY THEBUYER'SBROKERWHENESCROWCLOSES,BUTTHEPERSONRESPONSIBLEFOR PAYMENTMAYBENEGOTIATEDINTHETRANSACTION:
A.BUYERPAYSTHECOMPENSATIONPURSUANTTOABUYERREPRESENTATIONAGREEMENT: Abuyer'sbrokermaynegotiatetheamountofcompensationdirectlywiththeBuyerandthendocument thatagreementinabuyerrepresentationagreement(C.A.R.FormBRBCorPSRA).Thebuyerthen becomescontractuallyobligatedtopaythebrokerbyprovidingfundstoescrowpriortotheclosingofa transaction.
B.SELLERPAYSTHECOMPENSATION:
(1) BuyernegotiatesforSellertoCompensateBuyer'sBroker: Abuyermaymakeaconditional offertothesellerbyincludingaterminthepurchaseofferaskingthesellertopaythebuyer'sbroker ifthebuyerhasalreadyagreedtopaytheirownbrokerpursuanttoabuyerrepresentation agreement.Ifsuchatermisincludedinthepurchaseoffer,therequestwillbecomeoneterm amongmanythatasellermayaccept,reject,ornegotiatebywayofacounteroffer.Thepossibility ofaskingthesellertopaythebuyer'scontractualcompensationobligationoptionshouldbe discussedwhencreatingabuyerrepresentationagreementandpriortoanofferbeingmade.
(2) Buyer'sAgentnegotiatesanagreementdirectlywithSeller: Ifasellerisunrepresentedordoes nothaveanexclusiveagencyrelationshipwithanotherbroker,abuyer'sbrokermayapproachthat selleraskingthesellertosignanagreement(C.A.R.FormSP,SinglePartyCompensation Agreement)topaythebuyer'sbroker.Inthissituation,theselleragreestopaythebuyer'sbroker compensationwithoutnecessarilycreatinganagencyrelationshipwiththebroker.Whenthat happens,thebuyer'sbrokerisadvisedtouseaSellerNon-Agency(C.A.R.FormSNA)toinformthe sellerthatthebuyer'sbrokerwillbeactingonbehalfofthebuyeronly,andnotactastheseller's agent,throughoutthetransaction.However,becausethesellerisunrepresented,thebuyer'sagent willinevitablyhavetodomoreworktofacilitatethetransaction,whichmaybefactoredintothe negotiationofthesinglepartycompensationagreement.
C.CHANGINGPRACTICERELATEDTOASELLER'SBROKER'SOFFEROFCOMPENSATION:
Historically,inCalifornia,manyseller'sbrokersusedaMultipleListingService(MLS)tomakea unilateraloffertocompensateabuyer'sbrokerwhoprocuredabuyerfortheseller'sproperty.However, thenationwideNARsettlementprohibitstheseller'sbrokerfromusinganMLStomakesuchanofferof compensation.TheCaliforniaAssociationREALTORS®'(C.A.R.)listingagreementformsnolonger provideforsuchoffersofcooperatingbrokercompensationnordoesC.A.R.includeotherformsinits libraryofformsthatmightfacilitatesuchoffers.Buyersandsellersmustseparatelynegotiate compensationwiththeirrespectivebrokers,asspecifiedabove.
Bysigningbelow,SellerorBuyeracknowledgesthattheyhaveread,understand,andhavereceiveda CopyofthisBrokerCompensationAdvisory.SellerorBuyeracknowledgestheyhavebeenadvisedof theirvariousoptionsregardingcompensationtobepaidtorealestatebrokersandthatanywritten agreementtheyhavesignedwithaseller'sorbuyer'sbrokerreflectsamutualunderstanding.
Seller/Buyer
Seller/Buyer
Date
Date
©2024,CaliforniaAssociationofREALTORS®,Inc.UnitedStatescopyrightlaw(Title17U.S.Code)forbidstheunauthorizeddistribution,displayandreproduction ofthisform,oranyportionthereof,byphotocopymachineoranyothermeans,includingfacsimileorcomputerizedformats.THISFORMHASBEENAPPROVED BYTHECALIFORNIAASSOCIATIONOFREALTORS®.NOREPRESENTATIONISMADEASTOTHELEGALVALIDITYORACCURACYOFANYPROVISION INANYSPECIFICTRANSACTION.AREALESTATEBROKERISTHEPERSONQUALIFIEDTOADVISEONREALESTATETRANSACTIONS.IFYOUDESIRE LEGALORTAXADVICE,CONSULTANAPPROPRIATEPROFESSIONAL.Thisformismadeavailabletorealestateprofessionalsthroughanagreementwithor purchasefromtheCaliforniaAssociationofREALTORS®. PublishedandDistributedby:REALESTATEBUSINESSSERVICES,LLC. asubsidiaryoftheCaliforniaAssociationofREALTORS® BCA7/24(PAGE2OF2)
DISCLOSUREREGARDING REALESTATEAGENCYRELATIONSHIP
(AsrequiredbytheCivilCode) (C.A.R.FormAD,Revised8/24)
(Ifchecked)ThisformisbeingprovidedinconnectionwithatransactionforaleaseholdinterestexceedingoneyearasperCivil Code§§2079.13(j),(k),and(l).
Whenyouenterintoadiscussionwitharealestateagentregardingarealestatetransaction,youshouldfromtheoutsetunderstand whattypeofagencyrelationshiporrepresentationyouwishtohavewiththeagentinthetransaction.
SELLER'SAGENT
ASeller'sagentunderalistingagreementwiththeSelleractsastheagentfortheSelleronly.ASeller'sagentorasubagentofthat agenthasthefollowingaffirmativeobligations:
TotheSeller:AFiduciarydutyofutmostcare,integrity,honestyandloyaltyindealingswiththeSeller.
TotheBuyerandtheSeller:
(a)Diligentexerciseofreasonableskillandcareinperformanceoftheagent'sduties.
(b)Adutyofhonestandfairdealingandgoodfaith.
(c)Adutytodiscloseallfactsknowntotheagentmateriallyaffectingthevalueordesirabilityofthepropertythatarenotknownto, orwithinthediligentattentionandobservationof,theparties.Anagentisnotobligatedtorevealtoeitherpartyanyconfidential informationobtainedfromtheotherpartythatdoesnotinvolvetheaffirmativedutiessetforthabove.
BUYER'SAGENT
ABuyer'sagentcan,withaBuyer'sconsent,agreetoactasagentfortheBuyeronly.Inthesesituations,theagentisnottheSeller's agent,evenifbyagreementtheagentmayreceivecompensationforservicesrendered,eitherinfullorinpartfromtheSeller.Anagent actingonlyforaBuyerhasthefollowingaffirmativeobligations:
TotheBuyer:Afiduciarydutyofutmostcare,integrity,honestyandloyaltyindealingswiththeBuyer.
TotheBuyerandtheSeller:
(a)Diligentexerciseofreasonableskillandcareinperformanceoftheagent'sduties.
(b)Adutyofhonestandfairdealingandgoodfaith.
(c)Adutytodiscloseallfactsknowntotheagentmateriallyaffectingthevalueordesirabilityofthepropertythatarenotknownto, orwithinthediligentattentionandobservationof,theparties.Anagentisnotobligatedtorevealtoeitherpartyanyconfidential informationobtainedfromtheotherpartythatdoesnotinvolvetheaffirmativedutiessetforthabove.
AGENTREPRESENTINGBOTHSELLERANDBUYER
Arealestateagent,eitheractingdirectlyorthroughoneormoresalespersonsandbrokerassociates,canlegallybetheagentofboth theSellerandtheBuyerinatransaction,butonlywiththeknowledgeandconsentofboththeSellerandtheBuyer.
Inadualagencysituation,theagenthasthefollowingaffirmativeobligationstoboththeSellerandtheBuyer:
(a)Afiduciarydutyofutmostcare,integrity,honestyandloyaltyinthedealingswitheithertheSellerortheBuyer.
(b)OtherdutiestotheSellerandtheBuyerasstatedaboveintheirrespectivesections.
InrepresentingbothSellerandBuyer,adualagentmaynot,withouttheexpresspermissionoftherespectiveparty,disclosetothe otherpartyconfidentialinformation,including,butnotlimitedto,factsrelatingtoeithertheBuyer'sorSeller'sfinancialposition, motivations,bargainingposition,orotherpersonalinformationthatmayimpactprice,includingtheSeller'swillingnesstoacceptaprice lessthanthelistingpriceortheBuyer'swillingnesstopayapricegreaterthanthepriceoffered.
SELLERANDBUYERRESPONSIBILITIES
Eitherthepurchaseagreementoraseparatedocumentwillcontainaconfirmationofwhichagentisrepresentingyouandwhetherthat agentisrepresentingyouexclusivelyinthetransactionoractingasadualagent.Pleasepayattentiontothatconfirmationtomakesure itaccuratelyreflectsyourunderstandingofyouragent'srole.
TheabovedutiesoftheagentinarealestatetransactiondonotrelieveaSellerorBuyerfromtheresponsibilitytoprotecthisorher owninterests.Youshouldcarefullyreadallagreementstoassurethattheyadequatelyexpressyourunderstandingofthetransaction.A realestateagentisapersonqualifiedtoadviseaboutrealestate.Iflegalortaxadviceisdesired,consultacompetentprofessional. IfyouareaBuyer,youhavethedutytoexercisereasonablecaretoprotectyourself,includingastothosefactsabouttheproperty whichareknowntoyouorwithinyourdiligentattentionandobservation.
BothSellersandBuyersshouldstronglyconsiderobtainingtaxadvicefromacompetentprofessionalbecausethefederalandstatetax consequencesofatransactioncanbecomplexandsubjecttochange.
Throughoutyourrealpropertytransactionyoumayreceivemorethanonedisclosureform,dependinguponthenumberofagents assistinginthetransaction.Thelawrequireseachagentwithwhomyouhavemorethanacasualrelationshiptopresentyouwiththis disclosureform.Youshouldreaditscontentseachtimeitispresentedtoyou,consideringtherelationshipbetweenyouandthereal estateagentinyourspecifictransaction. Thisdisclosureformincludestheprovisionsof§§2079.13to2079.24,inclusive,ofthe CivilCodesetforthonpage2.Readitcarefully.
Note:Realestatebrokercommissionsarenotsetbylawandarefullynegotiable.
I/WEACKNOWLEDGERECEIPTOFACOPYOFTHISDISCLOSUREANDTHEPORTIONSOFTHECIVILCODEPRINTEDON THESECONDPAGE.
Buyer Seller Landlord Tenant
Buyer Seller Landlord Tenant
CIVIL§§2079.13-2079.24(2079.16APPEARSONTHEFRONT) 2079.13.Asusedinthissectionand§§2079.7and2079.14to2079.24,inclusive,thefollowingtermshavethefollowingmeanings:
(a) “Agent”meansapersonactingunderprovisionsofTitle9(commencingwith§2295)inarealpropertytransaction,andincludesapersonwhois licensedasarealestatebrokerunderChapter3(commencingwith§10130)ofPart1ofDivision4oftheBusinessandProfessionsCode,andunder whoselicensealistingisexecutedoranoffertopurchaseisobtained.Theagentintherealpropertytransactionbearsresponsibilityforthatagent's salespersonsorbrokerassociateswhoperformasagentsoftheagent.Whenasalespersonorbrokerassociateowesadutytoanyprincipal,orto anybuyerorsellerwhoisnotaprincipal,inarealpropertytransaction,thatdutyisequivalenttothedutyowedtothatpartybythebrokerforwhom thesalespersonorbrokerassociatefunctions. (b) “Buyer”meansatransfereeinarealpropertytransaction,andincludesapersonwhoexecutesan offertopurchaserealpropertyfromasellerthroughanagent,orwhoseekstheservicesofanagentinmorethanacasual,transitory,orpreliminary manner,withtheobjectofenteringintoarealpropertytransaction.“Buyer”includesavendeeorlesseeofrealproperty. (c) “Commercialrealproperty” meansallrealpropertyinthestate,except(1)single-familyresidentialrealproperty,(2)dwellingunitsmadesubjecttoChapter2(commencingwith §1940)ofTitle5,(3)amobilehome,asdefinedin§798.3,(4)vacantland,or(5)arecreationalvehicle,asdefinedin§799.29. (d) “Dualagent” meansanagentacting,eitherdirectlyorthroughasalespersonorbrokerassociate,asagentforboththesellerandthebuyerinarealproperty transaction. (e) “Listingagreement”meansawrittencontractbetweenasellerofrealpropertyandanagent,bywhichtheagenthasbeenauthorized toselltherealpropertyortofindorobtainabuyer,includingrenderingotherservicesforwhicharealestatelicenseisrequiredtothesellerpursuant tothetermsoftheagreement. (f) “Seller'sagent”meansapersonwhohasobtainedalistingofrealpropertytoactasanagentforcompensation. (g) “Listingprice”istheamountexpressedindollarsspecifiedinthelistingforwhichtheselleriswillingtoselltherealpropertythroughtheseller's agent. (h) “Offeringprice”istheamountexpressedindollarsspecifiedinanoffertopurchaseforwhichthebuyeriswillingtobuytherealproperty. (i) “Offertopurchase”meansawrittencontractexecutedbyabuyeractingthroughabuyer'sagentthatbecomesthecontractforthesaleofthereal propertyuponacceptancebytheseller. (j) “Realproperty”meansanyestatespecifiedbysubdivision(1)or(2)of§761inproperty,andincludes(1) single-familyresidentialproperty,(2)multiunitresidentialpropertywithmorethanfourdwellingunits,(3)commercialrealproperty,(4)vacantland, (5)agroundleasecoupledwithimprovements,or(6)amanufacturedhomeasdefinedin§18007oftheHealthandSafetyCode,oramobilehome asdefinedin§18008oftheHealthandSafetyCode,whenofferedforsaleorsoldthroughanagentpursuanttotheauthoritycontainedin§10131.6 oftheBusinessandProfessionsCode. (k) “Realpropertytransaction”meansatransactionforthesaleofrealpropertyinwhichanagentisretained byabuyer,seller,orbothabuyerandsellertoactinthattransaction,andincludesalistingoranoffertopurchase. (l) “Single-familyresidential property”or“single-familyresidentialrealproperty”meansanyofthefollowing:(1)Realpropertyimprovedwithonetofourdwellingunits,includinga leaseholdexceedingoneyear'sduration.(2)Aunitinaresidentialstockcooperative,condominium,orplannedunitdevelopment.(3)Amobilehomeor manufacturedhomewhenofferedforsaleorsoldthrougharealestatebrokerpursuantto§10131.6oftheBusinessandProfessionsCode. (m) “Sell,”“sale,”or“sold”referstoatransactionforthetransferofrealpropertyfromthesellertothebuyerandincludesexchangesofrealproperty betweenthesellerandbuyer,transactionsforthecreationofarealpropertysalescontractwithinthemeaningof§2985,andtransactionsforthecreation ofaleaseholdexceedingoneyear'sduration. (n) “Seller”meansthetransferorinarealpropertytransactionandincludesanownerwholistsrealproperty withanagent,whetherornotatransferresults,orwhoreceivesanoffertopurchaserealpropertyofwhichheorsheistheownerfromanagentonbehalf ofanother.“Seller”includesbothavendorandalessorofrealproperty. (o) “Buyer'sagent”meansanagentwhorepresentsabuyerinarealproperty transaction. 2079.14. Aseller'sagentandbuyer'sagentshallprovidethesellerandbuyerinarealpropertytransactionwithacopyofthedisclosureformspecifiedin §2079.16,andshallobtainasignedacknowledgmentofreceiptfromthatsellerandbuyer,exceptasprovidedin§2079.15,asfollows: (a) Theseller's agent,ifany,shallprovidethedisclosureformtothesellerpriortoenteringintothelistingagreement. (b) Thebuyer'sagentshallprovidethedisclosure formtothebuyerassoonaspracticablepriortoexecutionofthebuyer'soffertopurchase.Iftheoffertopurchaseisnotpreparedbythebuyer'sagent, thebuyer'sagentshallpresentthedisclosureformtothebuyernotlaterthanthenextbusinessdayafterreceivingtheoffertopurchasefromthebuyer. 2079.15. Inanycircumstanceinwhichthesellerorbuyerrefusestosignanacknowledgmentofreceiptpursuantto§2079.14,theagentshallsetforth, sign,anddateawrittendeclarationofthefactsoftherefusal.
2079.16 ReproducedonPage1ofthisADform.
2079.17(a) Assoonaspracticable,thebuyer'sagentshalldisclosetothebuyerandsellerwhethertheagentisactingintherealpropertytransactionas thebuyer'sagent,orasadualagentrepresentingboththebuyerandtheseller.Thisrelationshipshallbeconfirmedinthecontracttopurchaseandsell realpropertyorinaseparatewritingexecutedoracknowledgedbytheseller,thebuyer,andthebuyer'sagentpriortoorcoincidentwithexecutionofthat contractbythebuyerandtheseller,respectively. (b) Assoonaspracticable,theseller'sagentshalldisclosetothesellerwhethertheseller'sagentisacting intherealpropertytransactionastheseller'sagent,orasadualagentrepresentingboththebuyerandseller.Thisrelationshipshallbeconfirmedinthe contracttopurchaseandsellrealpropertyorinaseparatewritingexecutedoracknowledgedbythesellerandtheseller'sagentpriortoorcoincidentwith theexecutionofthatcontractbytheseller.
CONFIRMATION: (c) Theconfirmationrequiredbysubdivisions(a)and(b)shallbeinthefollowingform:
Seller'sBrokerageFirmDONOTCOMPLETE.SAMPLEONLYLicenseNumber______________ Isthebrokerof(checkone): theseller;or boththebuyerandseller.(dualagent)
Seller'sAgentDONOTCOMPLETE.SAMPLEONLYLicenseNumber______________ Is(checkone): theSeller'sAgent.(salespersonorbrokerassociate) boththeBuyer'sandSeller'sAgent.(dualagent)
Buyer'sBrokerageFirmDONOTCOMPLETE.SAMPLEONLYLicenseNumber______________ Isthebrokerof(checkone): thebuyer;or boththebuyerandseller.(dualagent)
Buyer'sAgentDONOTCOMPLETE.SAMPLEONLYLicenseNumber______________ Is(checkone): theBuyer'sAgent.(salespersonorbrokerassociate) boththeBuyer'sandSeller'sAgent.(dualagent) (d) Thedisclosuresandconfirmationrequiredbythissectionshallbeinadditiontothedisclosurerequiredby§2079.14.Anagent'sdutytoprovide disclosureandconfirmationofrepresentationinthissectionmaybeperformedbyarealestatesalespersonorbrokerassociateaffiliatedwiththatbroker. 2079.18 (RepealedpursuanttoAB-1289)
2079.19 Thepaymentofcompensationortheobligationtopaycompensationtoanagentbythesellerorbuyerisnotnecessarilydeterminativeofa particularagencyrelationshipbetweenanagentandthesellerorbuyer.Alistingagentandasellingagentmayagreetoshareanycompensationor commissionpaid,oranyrighttoanycompensationorcommissionforwhichanobligationarisesastheresultofarealestatetransaction,andthetermsof anysuchagreementshallnotnecessarilybedeterminativeofaparticularrelationship. 2079.20 Nothinginthisarticlepreventsanagentfromselecting,asaconditionoftheagent'semployment,aspecificformofagencyrelationshipnot specificallyprohibitedbythisarticleiftherequirementsof§2079.14and§2079.17arecompliedwith. 2079.21(a) Adualagentmaynot,withouttheexpresspermissionoftheseller,disclosetothebuyeranyconfidentialinformationobtainedfromtheseller. (b) Adualagentmaynot,withouttheexpresspermissionofthebuyer,disclosetotheselleranyconfidentialinformationobtainedfromthebuyer.
(c) “Confidentialinformation”meansfactsrelatingtotheclient'sfinancialposition,motivations,bargainingposition,orotherpersonalinformationthatmay impactprice,suchastheselleriswillingtoacceptapricelessthanthelistingpriceorthebuyeriswillingtopayapricegreaterthanthepriceoffered.
(d) Thissectiondoesnotalterinanywaythedutyorresponsibilityofadualagenttoanyprincipalwithrespecttoconfidentialinformationotherthanprice. 2079.22 Nothinginthisarticleprecludesaseller'sagentfromalsobeingabuyer'sagent.Ifasellerorbuyerinatransactionchoosestonotberepresented byanagent,thatdoesnot,ofitself,makethatagentadualagent.
2079.23 Acontractbetweentheprincipalandagentmaybemodifiedoralteredtochangetheagencyrelationshipatanytimebeforetheperformanceof theactwhichistheobjectoftheagencywiththewrittenconsentofthepartiestotheagencyrelationship.
2079.24 Nothinginthisarticleshallbeconstruedtoeitherdiminishthedutyofdisclosureowedbuyersandsellersbyagentsandtheirassociatelicensees, subagents,andemployeesortorelieveagentsandtheirassociatelicensees,subagents,andemployeesfromliabilityfortheirconductinconnectionwith actsgovernedbythisarticleorforanybreachofafiduciarydutyoradutyofdisclosure.
(C.A.R.FormPRBS,Revised12/21)
Arealestatebroker(Broker),whetheracorporation,partnershiporsoleproprietorship,mayrepresentmorethanonebuyer orseller.Thismultiplerepresentationcanoccurthroughanindividuallicensedasabrokerorsalespersonorthroughdifferent individualbroker'sorsalespersons(associatelicensees)actingundertheBroker'slicense.Theassociatelicenseesmaybe workingoutofthesameordifferentofficelocations.
MultipleBuyers: Broker(individuallyorthroughitsassociatelicensees)maybeworkingwithmanyprospectivebuyersat thesametime.Theseprospectivebuyersmayhaveaninterestin,andmakeofferson,thesameproperties.Someofthese propertiesmaybelistedwithBrokerandsomemaynot.Brokerwillnotlimitorrestrictanyparticularbuyerfrommaking anofferonanyparticularpropertywhetherornotBrokerrepresentsotherbuyersinterestedinthesameproperty.
MultipleSellers: Broker(individuallyorthroughitsassociatelicensees)mayhavelistingsonmanypropertiesatthesame time.Asaresult,Brokerwillattempttofindbuyersforeachofthoselistedproperties.Somelistedpropertiesmayappealto thesameprospectivebuyers.Somepropertiesmayattractmoreprospectivebuyersthanothers.Someoftheseprospective buyersmayberepresentedbyBrokerandsomemaynot.Brokerwillmarketalllistedpropertiestoallprospectivebuyers whetherornotBrokerhasanotherorotherlistedpropertiesthatmayappealtothesameprospectivebuyers.
DualAgency: IfSellerisrepresentedbyBroker,Selleracknowledgesthatbrokermayrepresentprospectivebuyers ofSeller'spropertyandconsentstoBrokeractingasadualagentforbothsellerandbuyerinthattransaction.IfBuyer isrepresentedbyBroker,buyeracknowledgesthatBrokermayrepresentsellersofpropertythatBuyerisinterestedin acquiringandconsentstoBrokeractingasadualagentforbothbuyerandsellerwithregardtothatproperty.
Intheeventofdualagency,sellerandbuyeragreethat:adualagentmaynot,withouttheexpresspermissionofthe respectiveparty,disclosetotheotherpartyconfidentialinformation,including,butnotlimitedto,factsrelatingtoeitherthe buyer'sorseller'sfinancialposition,motivations,bargainingposition,orotherpersonalinformationthatmayimpactprice, includingtheseller'swillingnesstoacceptapricelessthanthelistingpriceorthebuyer'swillingnesstopayaprice greaterthanthepriceoffered;andexceptassetforthabove,adualagentisobligatedtodiscloseknownfactsmaterially affectingthevalueordesirabilityofthePropertytobothparties.
Offersnotnecessarilyconfidential: Buyerisadvisedthatsellerorlistingagentmaydisclosetheexistence,terms,or conditionsofbuyer'sofferunlessallpartiesandtheiragenthavesignedawrittenconfidentialityagreement.Whetheranysuch informationisactuallydiscloseddependsonmanyfactors,suchascurrentmarketconditions,theprevailingpracticeinthereal estatecommunity,thelistingagent'smarketingstrategyandtheinstructionsoftheseller.
BuyerandsellerunderstandthatBrokermayrepresentmorethanonebuyerormorethanonesellerandevenbothbuyer andselleronthesametransactionandconsentstosuchrelationships.
Sellerand/orBuyeracknowledgesreadingandunderstandingthisPossibleRepresentationofMoreThanOne BuyerorSeller-DisclosureandConsentandagreestotheagencypossibilitiesdisclosed.
Seller
Buyer'sBrokerageFirm
Seller'sBrokerageFirm
©2021,CaliforniaAssociationofREALTORS®,Inc.UnitedStatescopyrightlaw(Title17U.S.Code)forbidstheunauthorizeddistribution,displayandreproductionofthisform, oranyportionthereof,byphotocopymachineoranyothermeans,includingfacsimileorcomputerizedformats.THISFORMHASBEENAPPROVEDBYTHE CALIFORNIAASSOCIATIONOFREALTORS®.NOREPRESENTATIONISMADEASTOTHELEGALVALIDITYORACCURACYOFANYPROVISIONINANYSPECIFIC TRANSACTION.AREALESTATEBROKERISTHEPERSONQUALIFIEDTOADVISEONREALESTATETRANSACTIONS.IFYOUDESIRELEGALORTAXADVICE, CONSULTANAPPROPRIATEPROFESSIONAL.ThisformismadeavailabletorealestateprofessionalsthroughanagreementwithorpurchasefromtheCalifornia AssociationofREALTORS®.ItisnotintendedtoidentifytheuserasaREALTOR®.REALTOR®isaregisteredcollectivemembershipmarkwhichmaybeusedonlyby membersoftheNATIONALASSOCIATIONOFREALTORS®whosubscribetoitsCodeofEthics.
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