FAQs: Right to Represent Form

Is this form new?

The form has been a “best practice” for several years and has always been a used by Haefer Homes. As of August 2024, the Department of Justice and the National Association of Realtors® have made a representation form a requirement prior to showing a house. More information can be read at https://www.nar.realtor/the-facts/nar-settlement-faqs.

What does the form say in common English?

Here’s what is says without all the mumbo jumbo:

  1. Representation: This agreement allows your Haefer Homes REALTOR® to represent you exclusively in buying a property, acting in your best interest throughout the process. You’re giving your REALTOR® written consent to work for you.

  2. Timeframe: The agreement is valid for a specific period, clearly outlined at the start. Legally, this can only be 12 months, but can be renewed at anytime. 

  3. REALTORS® Duties: Your Haefer Homes REALTOR® will help you find suitable properties, negotiate on your behalf, and maintain confidentiality for your personal and financial information. If, in your opinion, he fails to due so then you can fire him without argument. Haefer Homes guarantees their Easy Exit policy.

  4. Buyer’s Duties: You agree to work exclusively with your Realtor®, provide necessary information, and inform sellers or other agents that your Realtor® represents you. You won’t fire your realtor after he has found you a home so you can have your Uncle Joe get the commission.

  5. Compensation: Your REALTORS® payment is outlined in the agreement, typically covered by the seller at closing. All commissions are negotiable and must be agreeable by all parties. Your REALTOR® may accept less than what is in the form,  but cannot be paid more without your permission, even though your REALTORS® representation is typically paid for by the seller.

  6. Dual vs. Designated Agency: Your Haefer Homes Realtor® does not represent both buyer and seller in the same transaction (dual agency). For example, Nathan cannot represent you and represent the seller simultaneously because that’s not in your best interest. Please note, some agents, outside of Haefer Homes, engage in dual agency.If needed, different agents within the same Keller Williams brokerage may represent each party (designated agency). For example, Nathan would represent you but another Keller Williams agent may represent the seller, but they legally cannot divulge information to each other that violates the fiduciary agreement.

  7. Disclosures About Dual Agency: If a designated agency situation arises, your Realtor® will ensure transparency and safeguard confidential information. Don’t worry, Haefer Homes does not engage in Dual Agency.

What is the Easy Exit policy?

Here at Haefer Homes, we firmly hold that you should be served in a manner that you would never consider using another providers. If, at anytime before we find you a home or if we fail to successfully negotiate the home in your favor, you can let any Haefer Homes REALTOR® know their employment is terminated – they’re fired. No fees. No penalties. Guaranteed.

Why do I need this form now?

Buying a home is one of the largest investments you’ll ever make, and the Exclusive Right to Represent form is designed to protect your interests. It outlines your Realtor’s® fiduciary responsibility to you, ensuring professionalism, confidentiality, and a commitment to act in your best interest at every step of the home-buying process

When do I need to sign this?

Before your Realtor® can engage in any “substantial real-estate related activities.” including showings and repeatable searches.

What can my REALTOR® do before I sign this?

Your REALTOR® can assist you, but cannot engage with any “substantial real-estate related activities.” 

Where can I get more information?

More information is available through the National Association of REALTORS® website at https://www.nar.realtor/the-facts/nar-settlement-faqs#consumer.

I lost the link to the Docusign?

Just call 434-944-6982 and your Haefer Homes REALTOR® will assist you.