Agency
What is a 'buyer representation agreement' (buyer's agency agreement) in Oregon?
AA contract where the seller agrees to pay the buyer's broker
BA written contract establishing the broker-client relationship between a buyer and their broker, including compensation terms✓ Correct
CA form required by OREA for all showing appointments
DAn agreement that automatically converts to a purchase contract when the buyer finds a property
Explanation
A buyer representation agreement is a written contract between a buyer and their broker that establishes the agency relationship, defines the broker's duties, sets the term of representation, and specifies compensation. Oregon strongly recommends written buyer agency agreements to avoid confusion and protect both parties' interests.
Related Oregon Agency Questions
- When a buyer's agent in Oregon refers a client to a mortgage lender and receives a referral fee, what must they do?
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