CBCR Best Practices Buyer Representation Forms

Summary of Coldwell Banker-Campbell Realtors Best Practices Required Forms when working with a “Buyer Client” These are the FIVE Forms which are “Must Haves” in your file signed by the buyer when you begin to work with a buyer. For our o ice terminology, we will say you have “Listed-a-Buyer” once these forms are signed. 1) SBRA Simple Buyer Representation Agreement (07/24 Version): This is the one page Buyer Representation Agreement created by Coldwell Banker-Campbell Realtors management with the help of an expert C.A.R. lawyer. 2) AD Disclosure Regarding Agency Relationships (12/21 Version): This is the standard form required by State of California Statute. Under the real estate law you are required to have your client (buyer or seller) sign for a copy of this disclosure as soon as practicable after you begin working with them. Failure to have a buyer or seller client sign for a copy of the AD Form (especially before signing a Buyer Representation Agreement or Listing Agreement) is justification for the client to refuse payment of the commission. If you do not have your client sign this form, you may find yourself “working for free” with no commission paid. 3) BCA Broker Compensation Advisory (New): This form explains how brokers can get paid in a transaction. Listing Agreements: Paragraph 1 discusses the seller-side of the transaction and how payments to listing brokers no longer get shared with buyer’s brokers as in the past. Buyer representation agreements: Paragraph 2 discusses the best practices requirement to have a written compensation agreement with a buyer. Paragraph 3 addresses the ways a buyer’s broker may be paid. The two primary options are: (i) The buyer pays directly; and (ii) The seller pays pursuant to terms in the RPA & SPBB. 4) NBIP Notice to Broker Involved Properties (NEW): This form establishes that a buyer’s broker has been involved in a property that a buyer purchases, thereby triggering a right to be compensated, whether property purchased during or after representation period or after cancellations. 5) SPBB Seller Payment to Buyer’s Broker (6/23 version): The revised form is simplified. Paragraph 1A identifies the amount buyer is asking seller to pay. 1B limits the amount that specified in the buyer representation agreement. 1B also makes explicit that if there is no buyer representation agreement, seller has no payment obligation. Paragraph 3 allows buyer’s broker, not just escrow, to reveal compensation to seller. Paragraph 4 makes buyer’s broker a third-party beneficiary of the seller’s agreement to pay buyer’s broker which should give broker a right to pursue the seller if payment is not made.