The agent will be given a set period of time in which they must sell the property before the agreement expires. If the agent negotiates a successful sale, they will be entitled to a percentage of the purchase price as a commission (or a flat fee).
- Laws – § 40-57-135(I)(2)
- Dual Agency (§ 40-57-350 (I)) – Real estate licensees can only act as an agent for both the buyer and seller in a purchase agreement if they obtain written consent from both parties.
- Purchase Agreement – Allows a buyer and seller to enter into a legally binding agreement for the sale of residential property.
Contents |
Realtor Version

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Disclosures / Waivers (3) |
Dual Agency Agreement (§ 40-57-350 (I)) – Before a real estate agent can represent both the buyer and seller in a transaction, both parties must provide their written consent to allow dual agency.
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Disclosure of Real Estate Brokerage Relationships (§ 40-57-370) – In accordance with state law, licensees must present a copy of this disclosure form to all individuals with whom they have contact.
Download: PDF |
Property Disclosure Statement (§ 27-50-40) – When acting as an agent for the owner of residential property in a real estate transaction, the agent will need to disclose the property’s condition to the buyer.
Download: PDF |


