Agency
Iowa Code Chapter 543B requires that a buyer representation agreement be:
AVerbal to remain flexible
BIn writing to be enforceable✓ Correct
CApproved by the IREC before use
DFiled with the county recorder
Explanation
Iowa requires buyer representation agreements to be in writing to be enforceable. Written agreements protect both the buyer-client and the broker by clearly defining the scope of representation, compensation, and obligations.
Related Iowa Agency Questions
- A buyer's agent in Iowa has a fiduciary duty of loyalty to their buyer client, which means:
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