Easily renew your real estate license with the FREE 45 hour online license renewal package from C.A.R.
Distinguish yourself by learning how to build a business that specializes in niche markets to nearly double your earning potential in various real estate sectors
Browse our class schedule to find when and where to take real estate courses.
Prepare to earn your real estate license with our online courses. Get your California real estate license with OnlineEd. Price match guarantee. Mobile friendly. DRE-approved. Instructor Support. Start immediately!
Complete your eight-hour NMLS license renewal requirement through our NMLS-approved provider, OnlineEd
The main Business Meetings page includes important links for Directors and Committee Members. The next regularly scheduled C.A.R. Business Meeting takes place September 24-27, 2024 in Long Beach. The REimagine! Conference and Expo takes place September 24-26, 2024.
Check out NAR's upcoming meetings and conference schedule.
REimagine! Real Estate Conference & Expo is where learning takes center stage and where business solutions and connections are at the forefront of the real estate industry.
Learn how to schedule a C.A.R. outreach speaker for your next event and access presentations from previous outreaches.
View C.A.R's upcoming and past virtual events.
A one-stop shop for tools and and resources to educate consumers about the intricacies of buying and selling a home and how a REALTOR® can help.
Explore and interact with the latest market statistics.
Marketing tools from C.A.R.'s consumer advertising campaign
This information is designed for Real Estate Brokers and Office Managers to assist you in supporting your real estate business.
CCRE's mission is to advance industry knowledge and innovation with an emphasis on convening key experts and influence-makers.
Frequently Asked Questions about the Tax Cuts and Jobs Act
From webinars to videos and podcasts to blogs, C.A.R. keeps you in the know.
C.A.R. publishes four magazine issues and various newsletters throughout the year.
Transactions Business Tools Risk Management Meetings & Events Marketing Tools Knowledge Center Market Data MLS / Professional Standards Political Advocacy Make a Difference Member Benefits Contact UsTime to bring it home. Complete transactions and contracts electronically through zipForm®.
Realtor® Secure Transaction is your place to discover, access and master the essential tools for a modern, efficient and secure transaction.
Transaction management and forms software with all the must-have features, including current statewide contracts, local forms, and more.
Free advice to help you understand the form you're using with Forms Tutor® and identify which form you need for your transaction with Forms Advisor™
C.A.R. Standard Forms are developed by the C.A.R. Legal Department which gathers input from real estate professionals and attorneys to create user-friendly, comprehensive, and dependable forms.
Become certified as a Home Inspector or connect with a certified Inspectors and Transaction Coordinator.
We're here to help, people! Business products and tools to empower REALTORS®.
Your one-stop-source for exclusive offers, discounts, and free trials.
Everything you need for a successful property management & leasing business
A collection of educational and technology resources designed to help you achieve profitability and better prepare for your financial present and future.
Download the latest C.A.R. mobile apps, including CARmojis & Stickers, C.A.R., Legal Hotline, CA REALTOR® EXPO, and zipForm Mobile.
Q: Where do I go to get legal questions answered? A: Easy, look to the right!
Practice tips for how to comply with the new broker compensation rules. Learn how to use forms, talk to clients, and meet your legal and other obligations.
Legal articles, many in question and answer format, are currently available on over 150 subjects in 50-plus categories.
Quick Guides (1-page articles) and PowerPoint presentations on key legal topics.
Wish you could catch up on California real estate law without having to read even more documents? Relax and watch a video as C.A.R.’s Legal Live Webinars bring you up-to-date on the hottest topics in real estate law.
While you’re driving to your next meeting, would like our attorneys to update you on how to best protect yourself and your clients? Subscribe to our Legal Matters Podcast, and we’ll bring the most critical information right to your device.
Need help on a legal issue? First, pick one of the topics.
The Legal Action Fund advocates the REALTOR® point of view and assists in lawsuits pivotal to the real estate industry. Learn more about how the Legal Action Fund supports you in your business.
Important industry cases, resources and information
Current legal developments, C.A.R. legal products and services.
Explore the implications of the landmark Burnett v NAR antitrust lawsuit's outcome for REALTORS®, the industry, and your business.
Help, I need backup! Whether it's legal or financial help you need, C.A.R.'s got your back with these resources.
If you're a member looking to resolve a minor dispute or communication issue with another REALTOR ® , a C.A.R. ombudsman may be able to help!
C.A.R. REALTOR® volunteers are specifically trained and are available to answer questions from other members about the Code of Ethics, and can provide information and limited counseling concerning its proper interpretation.
Your lifeline to the lending community formerly known as the Finance Helpline and Mortgage Rescue™. Find contacts and answers to all mortgage related questions, and problems that arise in your real estate transaction. Get assistance today!
Need assistance on Transactions – zipForm Edition, purchasing a course, or other general membership questions? The Customer Contact Center is only a phone call away.
The C.A.R. Real Estate Mediation Center for Consumers has mediators available to assist buyers and sellers (as well as other parties to real estate transactions) in resolving their disputes.
Did you know that for zero dollars and zero cents, you can speak with an attorney about your transaction? If you don't believe us, check it out yourself.
We offer a wide array of real estate educational courses, certifications & designations in various formats.
Easily renew your real estate license with the FREE 45 hour online license renewal package from C.A.R.
Distinguish yourself by learning how to build a business that specializes in niche markets to nearly double your earning potential in various real estate sectors
Browse our class schedule to find when and where to take real estate courses.
Prepare to earn your real estate license with our online courses. Get your California real estate license with OnlineEd. Price match guarantee. Mobile friendly. DRE-approved. Instructor Support. Start immediately!
Complete your eight-hour NMLS license renewal requirement through our NMLS-approved provider, OnlineEd
Mark your calendars for our yearly meetings and events!
The main Business Meetings page includes important links for Directors and Committee Members. The next regularly scheduled C.A.R. Business Meeting takes place September 24-27, 2024 in Long Beach. The REimagine! Conference and Expo takes place September 24-26, 2024.
Check out NAR's upcoming meetings and conference schedule.
REimagine! Real Estate Conference & Expo is where learning takes center stage and where business solutions and connections are at the forefront of the real estate industry.
Learn how to schedule a C.A.R. outreach speaker for your next event and access presentations from previous outreaches.
View C.A.R's upcoming and past virtual events.
You're the brand! Use our marketing tools to tell your story.
A one-stop shop for tools and and resources to educate consumers about the intricacies of buying and selling a home and how a REALTOR® can help.
Explore and interact with the latest market statistics.
Marketing tools from C.A.R.'s consumer advertising campaign
Got knowledge? All the info you need on California’s housing market, economy, and issues impacting the industry.
This information is designed for Real Estate Brokers and Office Managers to assist you in supporting your real estate business.
CCRE's mission is to advance industry knowledge and innovation with an emphasis on convening key experts and influence-makers.
Frequently Asked Questions about the Tax Cuts and Jobs Act
From webinars to videos and podcasts to blogs, C.A.R. keeps you in the know.
C.A.R. publishes four magazine issues and various newsletters throughout the year.
Be trendy -- stay current with our latest market forecasts and data analyses.
The latest housing market forecast and projection to what lays ahead.
View the latest sales and price numbers. Find out where sales will be in upcoming months.
Your housing hub for market analysis, economic trends, and housing news.
Watch our C.A.R. economists provide updates on the latest housing market data and happenings. quickly!
Get a roundup of weekly economic and market news that matters to real estate and your business.
Gain insights through interactive dashboards and downloadable infographic reports.
Catch up with the latest outreaches and webinars by the Research and Economics team.
C.A.R. conducts survey research with members and consumers on a regular basis to get a better understanding of the housing market and the real estate industry.
You’ve gone pro! So here are guidelines about MLS rules and professional standards.
California Model MLS Rules, Issues Briefing Papers, and other articles and materials related to MLS policy.
Looking for information on how to file an interboard arbitration complaint? You've come to the right place! Find the rules, timeline and filing documents here.
Summaries and photos of California REALTORS® who violated the Code of Ethics and were disciplined with a fine, letter of reprimand, suspension, or expulsion.
The most recent edition of the Code of Ethics and Standards of Practice of the National Association of REALTORS® along with other important links to NAR information.
The California Professional Standards Reference Manual, Local Association Forms, NAR materials and other materials related to Code of Ethics enforcement and arbitration.
An industry that works together, thrives together. Participate in legislative advocacy as a C.A.R. member!
C.A.R. advocates for REALTOR® issues in Washington D.C., Sacramento and in city and county governments throughout California.
CREPAC, LCRC, IMPAC, ALF and the RAF comprise C.A.R.'s political fundraising arm.
Unlocking the California 2024 State Budget
Learn how you can make a difference, by getting involved yourself or by passing along valuable information to your clients.
Represent! Join C.A.R. in our community and foundation programs.
Californians for Homeownership was founded in response to the California Legislature’s call for public interest organizations to fight local anti-housing policies on behalf of the millions of California residents who need access to more affordable housing.
The Champions of Home Impact Awards honor California REALTORS® who have made a significant impact on their communities through volunteer efforts.
HAF plays an active role in addressing the ongoing housing affordability challenges facing California.
C.A.R. stands ready to assist REALTORS® who have been impacted by wildfires through its Disaster Relief Fund and NAR's REALTORS® Relief Foundation.
Scholarships for California students planning to pursue a career in real estate.
Grants for California REALTORS® and residents pursuing real estate education.
Find out more information on key diversity and inclusion programs and projects available.
New to the industry? YPN is a network to sharpen your skills, heighten your leadership, and connect with fellow REALTORS®.
Adding REALTOR® next to your name is cool. What comes with that title is even cooler. Check out your benefits.
Download and share the official 2024 C.A.R. Member Benefits Guide.
As a C.A.R. member you may have questions about your association and the industry. Find the answers here.
C.A.R. provides tremendous member value through its innovative tools, services and education. Learn more about C.A.R. membership and dues and NAR membership and dues.
C.A.R.'s annual consumer advertising campaign creates awareness of the REALTOR® brand and demonstrates the many benefits of the consumer-REALTOR® relationship.
Smart Zone provides tools and insights necessary to convey your unique value proposition, effectively market your services, keep your clients abreast of current real estate market trends and help you achieve success in a dynamic industry.
This is so us. who we are and what we do.
Meet the 2024 C.A.R. Leadership Team
C.A.R. is a statewide trade association dedicated to the advancement of professionalism in real estate.
The CALIFORNIA ASSOCIATION OF REALTORS® is committed to bring you tools and information to help you succeed. Here are some of the innovative tools, services and education C.A.R. provided to help you achieve your professional goals.
C.A.R.'s Media Center houses the Association's news releases, media guidelines, and logos.
C.A.R. and its subsidiaries are currently recruiting for the following job opportunities.
Partner With Us
Learn about advertising with C.A.R.
Whichever department you are looking to speak with, don't hesitate to reach out! We'd love to hear from you.
Looking for additional assistance? The Customer Contact Center is looking forward to serving you Monday through Friday between the hours of 8:30 a.m. and 4:45 p.m.
Need help finding the right person? Try searching through our various rosters & directories.
Time to bring it home. Find zipForm ® , transaction tools, and all the closing resources you'll need. Except for the champagne — that's on you.
Take your professional development up a few notches. Here you'll find educational materials, marketing tools, training videos, and more to keep you on top of your game.
We want you to feel like a champion every day. Find information on market data, government affairs, legislation, and trending industry issues.
We're here to support you in every way possible. Learn more about your discounts, benefits and how your C.A.R. membership can help you succeed.
Time to bring it home. Complete transactions and contracts electronically through zipForm®.
We're here to help, people! Business products and tools to empower REALTORS®.
Q: Where do I go to get legal questions answered? A: Easy, look to the right!
Help, I need backup! Whether it's legal or financial help you need, C.A.R.'s got your back with these resources.
We offer a wide array of real estate educational courses, certifications & designations in various formats.
Mark your calendars for our yearly meetings and events!
You're the brand! Use our marketing tools to tell your story.
Got knowledge? All the info you need on California’s housing market, economy, and issues impacting the industry.
Be trendy -- stay current with our latest market forecasts and data analyses.
You’ve gone pro! So here are guidelines about MLS rules and professional standards.
An industry that works together, thrives together. Participate in legislative advocacy as a C.A.R. member!
Represent! Join C.A.R. in our community and foundation programs.
Adding REALTOR® next to your name is cool. What comes with that title is even cooler. Check out your benefits.
This is so us. who we are and what we do.
Whichever department you are looking to speak with, don't hesitate to reach out! We'd love to hear from you.
Realtor® Secure Transaction is your place to discover, access and master the essential tools for a modern, efficient and secure transaction.
Transaction management and forms software with all the must-have features, including current statewide contracts, local forms, and more.
Free advice to help you understand the form you're using with Forms Tutor® and identify which form you need for your transaction with Forms Advisor™
C.A.R. Standard Forms are developed by the C.A.R. Legal Department which gathers input from real estate professionals and attorneys to create user-friendly, comprehensive, and dependable forms.
Become certified as a Home Inspector or connect with a certified Inspectors and Transaction Coordinator.
Your one-stop-source for exclusive offers, discounts, and free trials.
Everything you need for a successful property management & leasing business
A collection of educational and technology resources designed to help you achieve profitability and better prepare for your financial present and future.
Download the latest C.A.R. mobile apps, including CARmojis & Stickers, C.A.R., Legal Hotline, CA REALTOR® EXPO, and zipForm Mobile.
Practice tips for how to comply with the new broker compensation rules. Learn how to use forms, talk to clients, and meet your legal and other obligations.
Legal articles, many in question and answer format, are currently available on over 150 subjects in 50-plus categories.
Quick Guides (1-page articles) and PowerPoint presentations on key legal topics.
Wish you could catch up on California real estate law without having to read even more documents? Relax and watch a video as C.A.R.’s Legal Live Webinars bring you up-to-date on the hottest topics in real estate law.
While you’re driving to your next meeting, would like our attorneys to update you on how to best protect yourself and your clients? Subscribe to our Legal Matters Podcast, and we’ll bring the most critical information right to your device.
Need help on a legal issue? First, pick one of the topics.
The Legal Action Fund advocates the REALTOR® point of view and assists in lawsuits pivotal to the real estate industry. Learn more about how the Legal Action Fund supports you in your business.
Important industry cases, resources and information
Current legal developments, C.A.R. legal products and services.
Explore the implications of the landmark Burnett v NAR antitrust lawsuit's outcome for REALTORS®, the industry, and your business.
If you're a member looking to resolve a minor dispute or communication issue with another REALTOR ® , a C.A.R. ombudsman may be able to help!
C.A.R. REALTOR® volunteers are specifically trained and are available to answer questions from other members about the Code of Ethics, and can provide information and limited counseling concerning its proper interpretation.
Your lifeline to the lending community formerly known as the Finance Helpline and Mortgage Rescue™. Find contacts and answers to all mortgage related questions, and problems that arise in your real estate transaction. Get assistance today!
Need assistance on Transactions – zipForm Edition, purchasing a course, or other general membership questions? The Customer Contact Center is only a phone call away.
The C.A.R. Real Estate Mediation Center for Consumers has mediators available to assist buyers and sellers (as well as other parties to real estate transactions) in resolving their disputes.
Did you know that for zero dollars and zero cents, you can speak with an attorney about your transaction? If you don't believe us, check it out yourself.
Easily renew your real estate license with the FREE 45 hour online license renewal package from C.A.R.
Distinguish yourself by learning how to build a business that specializes in niche markets to nearly double your earning potential in various real estate sectors
Browse our class schedule to find when and where to take real estate courses.
Prepare to earn your real estate license with our online courses. Get your California real estate license with OnlineEd. Price match guarantee. Mobile friendly. DRE-approved. Instructor Support. Start immediately!
Complete your eight-hour NMLS license renewal requirement through our NMLS-approved provider, OnlineEd
The main Business Meetings page includes important links for Directors and Committee Members. The next regularly scheduled C.A.R. Business Meeting takes place September 24-27, 2024 in Long Beach. The REimagine! Conference and Expo takes place September 24-26, 2024.
Check out NAR's upcoming meetings and conference schedule.
REimagine! Real Estate Conference & Expo is where learning takes center stage and where business solutions and connections are at the forefront of the real estate industry.
Learn how to schedule a C.A.R. outreach speaker for your next event and access presentations from previous outreaches.
View C.A.R's upcoming and past virtual events.
A one-stop shop for tools and and resources to educate consumers about the intricacies of buying and selling a home and how a REALTOR® can help.
Explore and interact with the latest market statistics.
Marketing tools from C.A.R.'s consumer advertising campaign
This information is designed for Real Estate Brokers and Office Managers to assist you in supporting your real estate business.
CCRE's mission is to advance industry knowledge and innovation with an emphasis on convening key experts and influence-makers.
Frequently Asked Questions about the Tax Cuts and Jobs Act
From webinars to videos and podcasts to blogs, C.A.R. keeps you in the know.
C.A.R. publishes four magazine issues and various newsletters throughout the year.
The latest housing market forecast and projection to what lays ahead.
View the latest sales and price numbers. Find out where sales will be in upcoming months.
Your housing hub for market analysis, economic trends, and housing news.
Watch our C.A.R. economists provide updates on the latest housing market data and happenings. quickly!
Get a roundup of weekly economic and market news that matters to real estate and your business.
Gain insights through interactive dashboards and downloadable infographic reports.
Catch up with the latest outreaches and webinars by the Research and Economics team.
C.A.R. conducts survey research with members and consumers on a regular basis to get a better understanding of the housing market and the real estate industry.
California Model MLS Rules, Issues Briefing Papers, and other articles and materials related to MLS policy.
Looking for information on how to file an interboard arbitration complaint? You've come to the right place! Find the rules, timeline and filing documents here.
Summaries and photos of California REALTORS® who violated the Code of Ethics and were disciplined with a fine, letter of reprimand, suspension, or expulsion.
The most recent edition of the Code of Ethics and Standards of Practice of the National Association of REALTORS® along with other important links to NAR information.
The California Professional Standards Reference Manual, Local Association Forms, NAR materials and other materials related to Code of Ethics enforcement and arbitration.
C.A.R. advocates for REALTOR® issues in Washington D.C., Sacramento and in city and county governments throughout California.
CREPAC, LCRC, IMPAC, ALF and the RAF comprise C.A.R.'s political fundraising arm.
Unlocking the California 2024 State Budget
Learn how you can make a difference, by getting involved yourself or by passing along valuable information to your clients.
Californians for Homeownership was founded in response to the California Legislature’s call for public interest organizations to fight local anti-housing policies on behalf of the millions of California residents who need access to more affordable housing.
The Champions of Home Impact Awards honor California REALTORS® who have made a significant impact on their communities through volunteer efforts.
HAF plays an active role in addressing the ongoing housing affordability challenges facing California.
C.A.R. stands ready to assist REALTORS® who have been impacted by wildfires through its Disaster Relief Fund and NAR's REALTORS® Relief Foundation.
Scholarships for California students planning to pursue a career in real estate.
Grants for California REALTORS® and residents pursuing real estate education.
Find out more information on key diversity and inclusion programs and projects available.
New to the industry? YPN is a network to sharpen your skills, heighten your leadership, and connect with fellow REALTORS®.
Download and share the official 2024 C.A.R. Member Benefits Guide.
As a C.A.R. member you may have questions about your association and the industry. Find the answers here.
C.A.R. provides tremendous member value through its innovative tools, services and education. Learn more about C.A.R. membership and dues and NAR membership and dues.
C.A.R.'s annual consumer advertising campaign creates awareness of the REALTOR® brand and demonstrates the many benefits of the consumer-REALTOR® relationship.
Smart Zone provides tools and insights necessary to convey your unique value proposition, effectively market your services, keep your clients abreast of current real estate market trends and help you achieve success in a dynamic industry.
Meet the 2024 C.A.R. Leadership Team
C.A.R. is a statewide trade association dedicated to the advancement of professionalism in real estate.
The CALIFORNIA ASSOCIATION OF REALTORS® is committed to bring you tools and information to help you succeed. Here are some of the innovative tools, services and education C.A.R. provided to help you achieve your professional goals.
C.A.R.'s Media Center houses the Association's news releases, media guidelines, and logos.
C.A.R. and its subsidiaries are currently recruiting for the following job opportunities.
Partner With Us
Learn about advertising with C.A.R.
Looking for additional assistance? The Customer Contact Center is looking forward to serving you Monday through Friday between the hours of 8:30 a.m. and 4:45 p.m.
Need help finding the right person? Try searching through our various rosters & directories.
C.A.R. releases forward-looking forms. READ MORE
The New C.A.R. Buyer Representation Agreements: Q & A for Consumers Member Legal Services
Tel (213) 739-8282
Fax (213) 480-7724
April 9, 1999 Copyright © 1999 CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Permission is granted to C.A.R. members only to reprint and use this material for non-commercial purposes provided credit is given to the C.A.R. Legal Department. Other reproduction or use is strictly prohibited without the express written permission of the C.A.R. Legal Department. All rights reserved.
Q.What is the Buyer Representation form (BR-11) and what does it do?
A. The BR-11 (Buyer Representation Agreement) is an agreement between a potential buyer of real property and a real estate broker. The agreement has three key features. First, it defines the scope of the tasks and duties to be performed by buyer and broker. Second, it provides a written consent to a dual agency if one develops. Third, it places a limit on the time within which a legal action can be brought against the broker. This form is non-exclusive and may be revoked at any time by either buyer or broker.
Q.What is the Non-Exclusive Authorization to Acquire Real Property form (NAP-11) and what does it do?
A. The NAP-11 (Non-Exclusive Authorization to Acquire Real Property) is an agreement between a potential buyer of real property and a real estate broker. It has all of the features of the Buyer Representation Form except it provides for the broker to be compensated for services rendered on behalf of the buyer, it is also non-exclusive but, unlike the BR-11, it is non-revocable.
Q. What is the Exclusive Authorization to Acquire Real Property form (AAP-11) and what does it do?
A. The AAP-11 (Exclusive Authorization to Acquire Real Property) is very similar to the other two agreements with a few important distinctions. Like the NAAP-11, it provides for compensation and is non revocable. However, it is an exclusive agreement, meaning the buyer will be obligated to pay a commission, even if the buyer finds the property him or herself or uses another broker.
Q.How will buyers benefit from using any of the above forms?
A. Surveys have shown that one of the biggest sources of problems is lack of communication between the agent and his or her client. By putting the duties and obligations in writing, buyers will be more informed about the broker's responsibilities early in the transaction. The forms also identify tasks and services the broker will do as well as what type of services in a transaction may be performed by others. With this knowledge, buyers will be able to discuss or negotiate the terms of the relationship. Also, by having the opportunity to discuss and consent to potential dual agency early in the relationship, buyers can consider this question and avoid an awkward surprise about this issue later in the relationship. By bringing more clarity and certainty to the relationship between buyer and broker, neither becomes dependent upon the other's memory for establishing its terms.
Q.Does signing any of the above forms commit the buyer to using only one broker?
A. The BR-11 does not as it is non-exclusive and revocable. The buyer may switch brokers at any time. While this form does not commit the buyer to one broker, using two different brokers on the same piece of property is very confusing to all parties and may not help the buyer at all in negotiating with the seller. A better practice by a buyer would be to revoke one agreement before entering into another with a different broker. The NAP-11 does commit the buyer to paying the broker (irrevocable) in certain circumstances, but it is non-exclusive which means that the buyer may use more than one broker. The broker only gets paid if the broker introduces the specific property to the buyer or otherwise acts on the buyer's behalf. It would be permissible to use this contract with two different brokers on two different properties without paying both. The AAP-11 commits the buyer to a single broker for the transaction. It is exclusive and irrevocable. Even if a buyer enters into another agreement with another broker, or uses another broker without the benefit of an agreement, if the buyer acquires the property identified in the agreement the buyer may still owe the broker compensation.
Q. Must a buyer sign one of these forms before working with a particular broker or real estate salesperson?
A. While written agreements of this type are not required by law, in any professional relationship for services, it is good to have a written document so all parties have the same expectations. Some real estate offices may require one of these agreements, but that will be up to the brokerage firm. In the past, most brokers did not use these types of agreements because either the agreements were not available or those that were available did not meet the brokers and client's mutual needs.
Q.Why do the forms have a two-year limitation on the time to bring legal action against the broker?
A. Many agreements that individuals enter into have limitations of one sort or another. The drafters of these standard forms, the California Association of REALTORS®, believed that the two-year limitation is reasonable for a number of reasons. First, two years gives a buyer adequate time to make a decision about such important matters. Second, the California legislature has already statutorily recognized the two-year time frame as a reasonable period of time for a buyer to bring legal action against a real estate licensee. These contracts provide some consistency with that state law. Of course, the limitation would not apply to actual and intentional fraud.
Many terms are used to describe various relationships that may occur in a real estate transaction. The following questions and answers are designed to help clarify several of these terms.
Q.What is agency?
A. Agency is a legal relationship that is established between a principal (buyer or seller) and an agent (real estate broker) where the agent represents the principal in dealings with third parties. The relationship requires the mutual consent of both principal and agent.
Q.What is the difference between single agency and dual agency?
A. In single agency, the broker represents only one of the principals (buyer or seller). In dual agency, the broker represents both buyer and seller in the same transaction. In the real estate industry, even if one salesperson in an office is working with a buyer and another salesperson in the same office is working with the seller, the broker of the real estate firm is considered a dual agent.
Q.What is an exclusive buyer's agent?
A. The term, "exclusive buyer's agent," is often used in the real estate industry to describe a real estate licensee who never represents sellers. Real estate brokers who use this term typically do not take listings of property
Q.What is a buyer's broker?
A. The term "buyer's broker" is often use to describe a broker working with a buyer under a written contract that provides compensation. Two off the three C.A.R. agreements discussed above provide for compensation to the broker (NAP-11 and AAP-11).
The information contained herein is believed accurate as of April 9, 1999. It is intended to provide general answers to general questions and is not intended as a substitute for individual legal advice. Advice in specific situations may differ depending upon a wide variety of factors. Therefore, readers with specific legal questions should seek the advice of an attorney.
