Agent Representation Agreement
Generally, state laws governing real estate require that an agent disclose which party she is representing. An agent representation agreement is provided for each client and explains the role of the agent. Having each party sign the agreement before completing a transaction helps protect all involved parties.
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Single Agent
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As a single agent, the real estate agent works for either the buyer or seller but not both. Often, a single agent is referred to as the "listing" agent or the "buyer's" agent. The agent agreement for a single agent includes the name of the agent and his firm, the client's name, the description of the duties--stating the agent works or one client--and the date.
Dual Agent
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Since a dual agent may represent both the buyer and seller, an agent representation agreement must contain the names of the parties involved, including the clients, real estate firm and the agent, how he represents each party and the date. As a dual agent, the real estate agent must not disclose any information during the transaction that could potentially harm the other party.
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Transaction Broker
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A transaction broker generally has the listing provided by the seller or writes the offer for the buyer, without offering guidance or acting as an agent. Provided in a transaction broker's agent representation agreement is the client's name, the description of how the agent is simply assisting, the real estate firm's information and the date.
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