Working With a Real Estate Agent in North Carolina: What the Brochure Means

What you'll walk away with

• What the "Working With Real Estate Agents" disclosure is, and what it is not
• When you must receive it and why you are asked to sign it
• Questions that tell you whether an agent is right for you

In this guide

• What it is
• When you get it
• Why it matters
• How I handle it

Early in a North Carolina real estate relationship you'll be handed a short form called Working With Real Estate Agents. It looks like paperwork, but it protects you.

What it is

It is a disclosure, not a contract. It explains the ways an agent can work with you: representing a seller, representing a buyer, or, in limited situations, serving both sides with everyone's informed consent.

When you get it

The Real Estate Commission's rules require a broker, at the first substantial contact with a prospective buyer or seller, to provide the publication and review it with you. You are then asked to sign an acknowledgment, and the broker keeps that record in the transaction file for three years.

Why it matters

Until you know who an agent represents, you should be careful about sharing confidential information, such as your maximum budget or how motivated you are. Reviewing the form first lets you decide who you want on your side.

How I handle it

I review it with every buyer and seller up front, explain how I'm compensated, and put agreements in writing before we start touring homes, consistent with the Commission's rules and current industry practice. Questions are welcome at any point.

Sources: NC Real Estate Commission: Do Not Fail to Review Agency With All Sellers and Buyers

General information, not legal, tax or financial advice. Rules and forms change; confirm current details with your closing attorney, lender and the sources linked above.

Questions to ask any agent

• Who will you represent in this transaction?
• Can you walk me through the Working With Real Estate Agents form?
• How will you be compensated, and where will that be written down?
• What is your experience in the town I am considering?
• How will we communicate, and how fast do you respond?
• How do you handle multiple offers?
• Which lenders and attorneys do you trust, and why?

About this guide

Joseph Ford is a licensed North Carolina real estate broker and REALTOR®, not an attorney, lender, tax professional or financial advisor. This guide is general educational information, not legal, tax, lending or investment advice, and it is not an offer or commitment to lend. Laws, forms, rates and program terms change; confirm current details with the sources linked above and with the appropriate professional. You are free to choose any lender, attorney, inspector or other provider, and I will never require you to use one I mention. Equal Housing Opportunity.