The "Buyer Representation Agreement" establishes an agency relationship between a prospective Buyer and a REALTOR® and grants Broker the right to run a credit report on buyer. The compensation paragraph spells out that a commission is due to Broker from Buyer directly. However, amounts received from another Broker in a sale are credited against Buyers obligation. It also allows a Broker to state whether or not their brokerage accepts listings, and whether or not a dual agency relationship may be created. Limits the time a Buyer has to bring a legal claim against the Broker.
Revised Dec. 2017