What Is The Form 41 Agent Agreement: Everything Buyers Need to Know Before Signing

You might be asked to sign this Form 41 Buyer's Agency Agreement. It's important on this form to be aware of what you are committing to, what your options are, and what to look out for. In this video I explain all that you need to know when signing this form to protect yourself as a buyer!

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00:00 Background/What Happened
04:06 Why It Matters
04:49 Important details by section
07:25 Worst Case Scenario
07:56 Important details - continued

[therealtashiro]

If a buyer decides to cancel a buyers agency agreement because they find they are not a good fit with the buyer broker they were working with are they obligated to pay that buyer broker a commission if you purchase a home through another broker (you purchased it within the period you stated in "compensation after expiration)? If so, how does that look? What is owed to previous buyer broker? Thanks! Great Video!

[jlarealtyteamschroeder]

The buyer is agreeing to pay the listing broker 6% commission to the listing broker. What the broker does with it is up to the broker not the seller. What has happened is bad lawyers. A good lawyer would have fought to prove the seller is paying the listing broker and the broker is using that commission to sell the seller's house. photos, advertising, it's up the listing broker how he uses the agreed to commission monies to sell the seller's home. Giving 3% to the listing agent and offering 3% to the buyer's agent to show and facilitate the sell on the buyer's side is up to the broker who agreed with the seller to pay him to do so. It is seriously that simple.