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Do I have to sign the seller's agent's agency disclosure form?

My wife and I are buying a home without a buyer's agent and have refused to let the seller's agent represent us as a dual agent. We used an attorney to draft the purchase agreement. The seller's agent gave us an agency disclosure form to sign.

Since he doesn't represent us in any way, and we are not paying his commission, what is purpose for this form? I've seen online that he is required to supply it and request our signature, I've seen nothing that says that we are required to sign it.

My philosophy is to not sign any legal document unless it benefits me or protects me. This disclosure does neither, so why should I sign it?
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January 28 2013 - Columbus
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You made a decision not be represented by a Buyer Agent, who could guide through the process.  Instead you chose to use an attorney, therefore, I suggest that you continue to seek his legal advice on what documents to sign.  Good luck.
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January 28 2013
Hey there!

The Agency Disclosure form simply clarifies the role of the Agent(s) in the transaction. I am in Columbus and since you are in Columbus, I am assuming that we are referring to the same document.  

One of the paragraphs addresses the situation where a single agent is involved in a transaction.  There is a box to check indicating the agent's role as 1. a dual agent (and the second page addresses dual agency)  2. representing the seller or 3. representing the buyer.  As long as the form is completed correctly, I see no reason why you shouldn't sign it.  The purpose of a contract is clarity and this document clarifies to all parties the role of the real estate agent in the transaction just as your attorney's role is disclosed. I have found that Real Estate Attorneys understand this document and know that it is not harmful to you.    
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January 28 2013
I always laugh when people tell me they are going to have an attorney draft a contract rather then use an agent. The attorney will charge you a substantial fee to write the same contracts when a buyers agent does it for free. The sellers are already in an agreement to pay a set commission so you really don't save anyone any money, it actually just costs more and makes the transaction more complicated. As for the agency agreement it's not going to hurt you or bind you to anything. It's simply an acknowledgement that the listing agent represents the seller and your attorney represents you or you essentially represent yourself in this transaction, but I would certainly consult the attorney if your concerned... Your already paying them!
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January 28 2013
You don't say where you are, in North Carolina we have one of those and they tell us we must get it signed, but if you won't sign it there is a place to note that you won't. It is not a big deal, but some agents will feel it is since they go over getting it signed in every class we have to take each year. It is just disclosing the three types of agents: Sellers, buyers and dual. It's not a big deal if you do or don't. In the last 10 years I have only run across 1 person that refused since it clearly says it is not binding and informational only.

tim
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January 28 2013
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I wouldn't sign it without more information. Often these types of documents are mixed and may include arbitration clauses, limitations of other rights etc. Your atorney can do a 5 minute review of the boiler plate language and tell you whether to sign or not.

The agent may need something from you recognizing his role as a transactional agent or as representing solely the seller's interests, but your attorney can help you make the call.
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January 28 2013
Depending on the state, he may have to disclose his agency relationship with you even though you are not using his services. 

I always recommend my agents have buyers/sellers execute an agency disclosure regardless.  It will not affect you one way or another if the listing agent is disclosing he does not represent you.

In Florida the default is Transaction Brokerage.
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January 28 2013
While you view the document as not being a benefit to you, it should also not harm you to sign.

If you're concerned, have the document reviewed by your attorney. The agent should've done a better job of explaining why the document is essential to the transaction.
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January 28 2013
My first question is why did you not allow a realtor to represent YOU in this transaction as it would not have cost you a dime. As to whether or not you should sign the agency disclosure, I would consult with your attorney.
Best wishes
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January 28 2013
I'm not sure what the laws are in Ohio, but in PA there are certain forms Agents are required to have signed. If you refuse to sign it, they can state that you refuse to sign it on the form. Does the form obligate you to do or pay anything or is it just to say that the agent doesn't represent you? If what is written on the form non-harmful to you in any way, I'm not sure what the objection to signing it it. You can even just write a line acknowledging you received the form but don't agree with it. It would just help the transaction be entirely legal. You might want to consult your attorney since you are already paying for one.
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January 28 2013
 
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