Kentucky Agent Agreement
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How to fill out Agent Agreement?
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FAQ
Dual agents can streamline the home sale process, helping you sell your home faster and with less hassle. However, since they represent the buyer too, your real estate agent may not be willing to negotiate a higher price with the buyer.
The purpose of this form is to confirm that you have been advised of the role of the agent(s) in the transaction proposed below. (For purposes of this form, the term ?buyer? includes a tenant.) in the transaction, and they will protect all parties' confidential information.
Which States Ban Dual Agency? Wyoming, Alaska, Vermont, Colorado, Florida, Maryland, Texas and Kansas ban or severely limit the practice of dual agency. While other states have not made it illegal to have dual agency, they have created many limitations on the power a dual agent has.
DUAL AGENCY: Kentucky law permits a real estate agent and brokerage to represent both the Seller and Buyer in a real estate transaction as long as this is disclosed to both parties and they both agree. This is known as dual agency.
The licensee must complete and deliver the Agency Consent Agreement to the prospective client, and seek and obtain written consent to the Agency Consent Agreement from the prospective client, before entering into a written agreement (or obtaining written consent) to provide real estate brokerage services or completing ...
What are the requirements for a Valid and Enforceable Real Estate Contract in Kentucky? Party information. ... Property description. ... Purchase price. ... Contingencies. ... Disclosures. ... Addition terms. ... Closing date. ... Signatures.
KREC provides the Consumer Guide to Agency Relationships model policies in two versions, which allows brokerages to use the version that matches its use of designated or dual agency. Brokerages can modify the form to be company-specific.
If you use a dual agent, they receive the entire real estate commission, most often paid by the seller. In contrast, in a traditional two-agent transaction, the commission is split between the two, sometimes to varying degrees depending on the brokerage.