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This form approved by:
North Carolina Association of REALTORS
, Inc.
STANDARD FORM 501
Revised 7/2018
© 7/2020
AGENCY FORMS GUIDELINES AND CHECKLIST
(COMMERCIAL SALES & LEASES)
NOTE: This form is intended as a guide for the circumstances where the various NCAR-RCA Commercial Forms should be used. It
may also be used as a checklist for each file to make notes on the tracking grid on the last pages or marginally note on the form that
each applicable, required step with respect to the file has been taken. The Additional Signatures Addendum (Form 503) was created to
provide for additional signature lines where any agency or transaction form does not have enough signature lines for the number of
parties involved.
A. SELLER/LANDLORD CHECKLIST (AT TIME OF LISTING)
There are three (3) standard exclusive right to sell listing agreements. If the property is to be offered for both lease and sale, the
EXCLUSIVE RIGHT TO LEASE AND/OR SELL LISTING AGREEMENT (Form 570) should be used. If the property is
to be offered only for sale, the EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT (Form 571) should be used. If the
property is to be offered only for lease, the EXCLUSIVE RIGHT TO LEASE LISTING AGREEMENT (Form 572) should
be used. Any renewals, extensions or revisions to listing agreements should be made on the AGENCY AGREEMENT
RENEWAL AND/OR AMENDMENT (Form 575).
EXCLUSIVE RIGHT TO LEASE AND/OR SELL LISTING AGREEMENT (Form 570) has been signed by Client.
• Agent has advised Client of Firm’s general company policies regarding cooperation and the amount(s) of any compensation
that will be offered to subagents, buyer/tenant agents, or both. Client has been told advantages of cooperating with
buyer/tenant agents. Client has been told of liability of subagency.
o SALES- WORKING WITH REAL ESTATE AGENTS (Form 520) has been given to and reviewed with
Client at first substantial contact, and Client has signed the form acknowledging its receipt and review. THIS
FORM IS MANDATORY UNDER THESE CIRCUMSTANCES BY NORTH CAROLINA REAL
ESTATE COMMISSION RULE.
o LEASING- WORKING WITH REAL ESTATE AGENTS (LEASE TRANSACTIONS) (Form 521) has
been given to and reviewed with Client at first substantial contact, and Client has signed the form
acknowledging its receipt and review. Use of this form is not mandated by Commission rules, but is advised.
If Your Firm’s Policy Permits Dual Agency:
• Dual agency has been discussed with Client.
• If Client authorizes dual agency: the third option should be checked under Section paragraph 2. If Firm practices designated
agency, the DESIGNATED AGENCY ADDENDUM (Form 551) should be reviewed with the client AND if this option is
selected, it should be attached to the listing agreement.
• If Client does NOT authorize dual agency: the third option should NOT be checked under Section paragraph 2.
If Your Firm’s Policy Does NOT Permit Dual Agency:
• Client understands this and the third option should NOT be checked under Section paragraph 2.
If the property listed is land, the Land Information Worksheet (Form 502) may be useful to collect information regarding the
property.
If the property potentially being sold is one to four unit residential property, the mandatory Residential Property and
Owners’ Association Disclosure Statement (Form 140) should be completed and signed by seller. Agent has explained to
Client that presentation of this form to the buyer after contract may give the buyer a right to cancel the contract.
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STANDARD FORM 501
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If the firm is also being hired to manage the property, a PROPERTY MANAGEMENT AGREEMENT (Form 590) should be
reviewed with the Client and signed as well. Note that the PROPERTY MANAGEMENT AGREEMENT (Form 590) does not
address leasing activities and the EXCLUSIVE RIGHT TO LEASE AND/OR SELL LISTING AGREEMENT (Form 570) does
not address property management activities.
In order to collect information on potential tenants and/or guarantors, the Commercial Lease Application (Form 591) may be used.
OR
EXCLUSIVE RIGHT TO SELL LISTING AGREEMENT (Form 571) has been signed by Client.
• Agent has advised Client of Firm’s general company policies regarding cooperation and the amount(s) of any compensation that will
be offered to subagents, buyer/tenant agents, or both. Client has been told advantages of cooperating with buyer agents. Client has
been told of liability of subagency. WORKING WITH REAL ESTATE AGENTS (Form 520) has been given to and reviewed
with Client at first substantial contact, and Client has signed the form acknowledging its receipt and review. THIS FORM IS
MANDATORY UNDER THESE CIRCUMSTANCES BY NORTH CAROLINA REAL ESTATE COMMISSION RULE.
If Your Firm’s Policy Permits Dual Agency:
• Dual agency has been discussed with Client.
• If Client authorizes dual agency: the third option should be checked under Section paragraph 2. If Firm practices designated agency,
the DESIGNATED AGENCY ADDENDUM (Form 551) should be reviewed with the client AND if this option is selected, it
should be attached to the listing agreement.
• If Client does NOT authorize dual agency: the third option should NOT be checked under Section paragraph 2.
If Your Firm’s Policy Does NOT Permit Dual Agency:
• Client understands this and the third option should NOT be checked under Section paragraph 2.
If the property listed is land, the Land Information Worksheet (Form 502) may be useful to collect information regarding the property.
If the property potentially being sold is one to four unit residential property, the mandatory Residential Property and Owners’
Association Disclosure Statement (Form 140) should be completed and signed by seller. Agent has explained to Client that
presentation of this form to the buyer after contract may give the buyer a right to cancel the contract.
OR
EXCLUSIVE RIGHT TO LEASE LISTING AGREEMENT (Form 572) has been signed by Client.
• Agent has advised Client of Firm’s general company policies regarding cooperation and the amount(s) of any compensation that will
be offered to subagents, buyer/tenant agents, or both. Client has been told advantages of cooperating with tenant agents. Client has
been told of liability of subagency. WORKING WITH REAL ESTATE AGENTS (LEASE TRANSACTIONS) (Form 521) has
been given to and reviewed with Client at first substantial contact, and Client has signed the form acknowledging its receipt and
review. Use of this form is not mandated by Commission rules, but is advised.
If Your Firm’s Policy Permits Dual Agency:
• Dual agency has been discussed with Client.
• If Client authorizes dual agency: the third option should be checked under Section paragraph 2. If Firm practices designated agency,
the DESIGNATED AGENCY ADDENDUM (Form 551) should be reviewed with the client AND if this option is selected, it
should be attached to the listing agreement.
• If Client does NOT authorize dual agency: the third option should NOT be checked under Section paragraph 2.
If Your Firm’s Policy Does NOT Permit Dual Agency:
• Client understands this and the third option should NOT be checked under Section paragraph 2.
If the firm is also being hired to manage the property, a PROPERTY MANAGEMENT AGREEMENT (Form 590) should be
reviewed with the Client and signed as well. Note that the PROPERTY MANAGEMENT AGREEMENT (Form 590) does not
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STANDARD FORM 501
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address leasing activities and the EXCLUSIVE RIGHT TO LEASE AND/OR SELL LISTING AGREEMENT (Form 570) does
not address property management activities.
In order to collect information on potential tenants and/or guarantors, the Commercial Lease Application (Form 591) may be used.
AND
If Agent desires written evidence apart from the listing agreement of its status as agent of seller/landlord, a CONFIRMATION OF
AGENCY RELATIONSHIP AND REGISTRATION STATEMENT (Form 510) has been completed and signed by Client.
Client has been given copies of all documents.
Listing information has been reviewed for compliance with applicable database regulations. Is information accurate? Current? Has
any confidential information been protected from being disclosed?
Listing information and listing agreement have been turned into your Firm and all Firm records reflect Client cooperation and
compensation choices. (Subagents? How much?) (Buyer/Tenant agents? How much?) (Dual agency?)
Listing information has been placed in applicable database(s).
B. SUBAGENCY CHECKLIST (BUYER/TENANT IS CUSTOMER)
If your customer is not certain if they will buy or lease, then both WORKING WITH REAL ESTATE AGENTS forms listed below should be
used.
WORKING WITH REAL ESTATE AGENTS (Form 520) has been given to and reviewed with buyer at first substantial contact.
Buyer has signed the form acknowledging its receipt and review. Buyer has been told that Firm is representing the seller, the
“Disclosure of Seller Subagency” box has been checked and buyer has initialed acknowledging the disclosure. THIS FORM IS
MANDATORY UNDER THESE CIRCUMSTANCES BY NORTH CAROLINA REAL ESTATE COMMISSION RULE.
Customer has been informed that some listings do not allow cooperation with subagents and agent cannot work with Customer on
those listings.
WORKING WITH REAL ESTATE AGENTS (LEASE TRANSACTIONS) (Form 521) has been given to and reviewed with
tenant at first substantial contact. Tenant has been told that Firm is representing the landlord, the “Disclosure of Landlord Subagency”
box has been checked and tenant has initialed acknowledging the disclosure. Use of this form is not mandated by Commission rules,
but is advised. Customer has been informed that some listings do not allow cooperation with subagents and agent cannot work with
Customer on those listings.
AND
CONFIRMATION OF AGENCY RELATIONSHIP AND REGISTRATION STATEMENT (Form 510) has been completed by
buyer/tenant. This form serves as evidence of Firm’s relationship with buyer/tenant and is recognized as a registration under the
various NCAR listing agreements, if presented to listing broker.
Appointments to show property have been scheduled. Subagency disclosure has been made to listing broker for each and every
property.
Buyer/Tenant has been given information only (no advice) during the showing, selection and negotiation processes.
As required by the REALTOR® Code of Ethics, commission splits have been determined prior to discussion of deal terms,
negotiation or beginning efforts to accept offers of cooperation. COMMISSION SPLIT AGREEMENT – SALES
TRANSACTION (Form 541) or COMMISSION SPLIT AGREEMENT – LEASE TRANSACTION (Form 542) have been
executed by real estate firms involved (or other similar arrangements made).
AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY (Form 580-T), or other attorney/buyer/seller drafted sales
agreement, has been completed and signed by buyer. Firm has been listed as “Selling Agency” and you have been listed as “Selling
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© 7/2020
Agent” in Section 1(f) of Form 580-T and you have checked the “Seller’s (Sub)Agent” box. If attorney/buyer/seller drafted contract,
then Firm has otherwise confirmed its agency status in writing; a STATEMENT OF AGENCY RELATIONSHIPS (Form 540)
completed, signed and attached to an attorney/buyer/seller drafted agreement complies with this requirement. If your Firm is holding
the earnest money deposit, you have signed for receipt of the deposit on the last page of Form 580-T.
If the property being purchased is one to four unit residential property, the mandatory Residential Property and Owners’
Association Disclosure Statement (Form 140) should be obtained from seller and signed by buyer.
COMMERCIAL LEASE AGREEMENT (Form 592-T- for single tenant facilities or Form 593-T- for multi-tenant facilities),
or other attorney/landlord/tenant drafted lease agreement, has been completed and signed by tenant. If attorney/landlord/tenant drafted
lease, then Firm has otherwise confirmed its agency status in writing; a STATEMENT OF AGENCY RELATIONSHIPS (Form
540) completed, signed and attached to an attorney/landlord/tenant drafted agreement complies with this requirement.
Buyer/Tenant has been given copies of all documents.
C. BUYER/TENANT AGENCY CHECKLIST (BUYER/TENANT IS CLIENT)
There are three (3) standard buyer/tenant representation agreements. If the relationship with the buyer/tenant is to be exclusive, then
use the EXCLUSIVE BUYER/TENANT REPRESENTATION AGREEMENT (Form 530); use of this form requires Firm to seek
compensation from the listing broker/seller/landlord, but obligates the buyer/tenant to compensate the Firm in the event the Firm does not
receive adequate compensation from the listing broker/seller/landlord. If the relationship is to be non-exclusive, then use either the
NON-EXCLUSIVE BUYER/TENANT REPRESENTATION AGREEMENT (Client Responsible) (Form 531) which makes the
Client responsible for payment of compensation (although there is an option which asks the Firm to first seek compensation from the
listing broker/seller/landlord), or the NON-EXCLUSIVE BUYER/TENANT REPRESENTATION AGREEMENT (Form 532); use of
this form requires the Firm to seek compensation solely from the listing broker/seller/landlord and does not obligate the buyer/tenant to
compensate the Firm in any way. Any renewals, extensions or revisions to buyer/tenant representation agreements should be made on the
AGENCY AGREEMENT RENEWAL AND/OR AMENDMENT (Form 575).
Client has elected to have exclusive representation and has signed the EXCLUSIVE BUYER/TENANT REPRESENTATION
AGREEMENT (Form 530). Agent has advised Client of Firm’s general company policy regarding cooperation with other firms, the
amount of compensation to be paid by Client, and the potential for offsetting compensation from the listing broker/seller/landlord.
Client has been advised of the potential for buyer/tenant subagency.
SALES- WORKING WITH REAL ESTATE AGENTS (Form 520) has been given to and reviewed with Client at first
substantial contact, and Client has signed the form acknowledging its receipt and review. THIS FORM IS MANDATORY
UNDER THESE CIRCUMSTANCES BY NORTH CAROLINA REAL ESTATE COMMISSION RULE.
LEASING- WORKING WITH REAL ESTATE AGENTS (LEASE TRANSACTIONS) (Form 521) has been given to
and reviewed with Client at first substantial contact, and Client has signed the form acknowledging its receipt and review.
Use of this form is not mandated by Commission rules, but is advised.
If Your Firm’s Policy Permits Dual Agency:
• Dual agency has been discussed with Client.
• If Client authorizes dual agency the first option should be selected in Section paragraph 9(a). If Firm practices designated agency, the
DESIGNATED AGENCY ADDENDUM (Form 551) should be reviewed with the client AND if this option is selected, it should be
attached to the agreement.
• If Client does NOT authorize dual agency the second option in Section paragraph 9(a) should be selected.
If Your Firm’s Policy Does NOT Permit Dual Agency:
• Client understands this and the second option in Section paragraph 9(a) should be selected.
If the property being sought is land, the Land Information Worksheet (Form 502) may be useful to collect information regarding
properties the Client is interested in.
Client has elected NOT to have exclusive representation and has signed the NON-EXCLUSIVE BUYER/TENANT
REPRESENTATION AGREEMENT (Client Responsible) (Form 531). Agent has advised Client of Firm’s general company
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STANDARD FORM 501
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© 7/2020
policy regarding cooperation with other firms and the amount of compensation to be paid by Client. Client has been advised of the
potential for buyer/tenant subagency.
• SALES- WORKING WITH REAL ESTATE AGENTS (Form 520) has been given to and reviewed with Client
at first substantial contact, and Client has signed the form acknowledging its receipt and review. THIS FORM IS
MANDATORY UNDER THESE CIRCUMSTANCES BY NORTH CAROLINA REAL ESTATE
COMMISSION RULE.
• LEASING- WORKING WITH REAL ESTATE AGENTS (LEASE TRANSACTIONS) (Form 521) has been
given to and reviewed with Client at first substantial contact, and Client has signed the form acknowledging its
receipt and review. Use of this form is not mandated by Commission rules, but is advised.
If Your Firm’s Policy Permits Dual Agency:
• Dual agency has been discussed with Client.
• If Client authorizes dual agency the first option should be selected in Section paragraph 6(a). If Firm practices designated agency, the
DESIGNATED AGENCY ADDENDUM (Form 551) should be reviewed with the client AND if this option is selected, it should be
attached to the agreement.
• If Client does NOT authorize dual agency the second option in Section paragraph 6(a) should be selected.
If Your Firm’s Policy Does NOT Permit Dual Agency:
• Client understands this and the second option in Section paragraph 6(a) should be selected.
If the property being sought is land, the Land Information Worksheet (Form 502) may be useful to collect information regarding
properties the Client is interested in.
Client has elected NOT to have exclusive representation and has signed the NON-EXCLUSIVE BUYER/TENANT
REPRESENTATION AGREEMENT (Form 532). Agent has advised Client of Firm’s general company policy regarding
cooperation with other firms and the amount of compensation to be paid by Client (remember that Firm must seek its compensation
solely from the listing broker/seller/landlord). Client has been advised of the potential for buyer/tenant subagency.
• SALES- WORKING WITH REAL ESTATE AGENTS (Form 520) has been given to and reviewed with Client
at first substantial contact, and Client has signed the form acknowledging its receipt and review. THIS FORM IS
MANDATORY UNDER THESE CIRCUMSTANCES BY NORTH CAROLINA REAL ESTATE
COMMISSION RULE.
• LEASING- WORKING WITH REAL ESTATE AGENTS (LEASE TRANSACTIONS) (Form 521) has been
given to and reviewed with Client at first substantial contact, and Client has signed the form acknowledging its
receipt and review. Use of this form is not mandated by Commission rules, but is advised.
If Your Firm’s Policy Permits Dual Agency:
• Dual agency has been discussed with Client.
• If Client authorizes dual agency the first option should be selected in Section paragraph (a). If Firm practices designated agency, the
DESIGNATED AGENCY ADDENDUM (Form 551) should be reviewed with the client AND if this option is selected, it should be
attached to the agreement.
• If Client does NOT authorize dual agency the second option in Section paragraph (a) should be selected.
If Your Firm’s Policy Does NOT Permit Dual Agency:
• Client understands this and the second option in Section paragraph (a) should be selected.
If the property being sought is land, the Land Information Worksheet (Form 502) may be useful to collect information regarding
properties the Client is interested in.
AND
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CONFIRMATION OF AGENCY RELATIONSHIP AND REGISTRATION STATEMENT (Form 510) has been completed by
Client. This form services as evidence of Firm’s relationship with Client and is recognized as a registration under the various NCAR
listing agreements, if presented to a listing firm.
Appointments to show OTHER firms’ properties have been scheduled. Buyer/Tenant agency disclosure has been made to the listing
firm for each and every property. When you show YOUR Firm’s listings to YOUR Client, you are in dual agency. (See Dual Agency
checklist below.)
As required by the REALTOR® Code of Ethics, commission splits have been determined prior to discussion of deal terms,
negotiation or beginning efforts to accept offers of cooperation. COMMISSION SPLIT AGREEMENT - SALES
TRANSACTION (Form 541) or COMMISSION SPLIT AGREEMENT – LEASE TRANSACTION (Form 542) have been
executed by real estate firms involved (or other similar arrangements made). If there is compensation to be received from a party
other than your Client, the Confirmation of Compensation (Form 561) should be used to disclose that compensation as required by
Real Estate Commission Rule A.0109.
AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY (Form 580-T), or other attorney/buyer/seller drafted sales
agreement, has been completed and signed by Client. Firm has been listed as “Selling Agency” and you have been listed as “Selling
Agent” in Section 1(f) of Form 580-T and you have checked the “Buyer’s Agent” box. If attorney/buyer/seller drafted contract, then
Firm has otherwise confirmed its agency status in writing; a STATEMENT OF AGENCY RELATIONSHIPS (Form 540)
completed, signed and attached to an attorney/buyer/seller drafted agreement complies with this requirement. If your Firm is holding
the earnest money deposit, you have signed for receipt of the deposit on the last page of Form 580-T.
If the property being purchased is one to four unit residential property, the mandatory Residential Property and Owners’
Association Disclosure Statement (Form 140) should be obtained from seller and signed by Client.
COMMERCIAL LEASE AGREEMENT (Form 592-T- for single tenant facilities or Form 593-T- for multi-tenant facilities),
or other attorney/landlord/tenant drafted lease agreement, has been completed and signed by Client. If attorney/landlord/tenant drafted
lease, then Firm has otherwise confirmed its agency status in writing; a STATEMENT OF AGENCY RELATIONSHIPS (Form
540) completed, signed and attached to an attorney/landlord/tenant drafted agreement complies with this requirement.
Client has been given copies of all documents.
D. DUAL AGENCY CHECKLIST (BOTH BUYER/TENANT AND SELLER/LANDLORD ARE CLIENTS)
Dual agency arises when a Firm has an agency relationship with parties on both sides of a transaction.
Both buyer/tenant and seller/landlord have elected to have Firm represent them.
Buyer/Tenant signed a representation agreement with your Firm, approving dual agency within the agreement, OR Buyer/Tenant
previously signed a representation agreement with the Firm, but did not approve dual agency within the agreement, and is now
amending the agreement to permit dual agency by attaching a DUAL AGENCY ADDENDUM (Form 550) to the agreement.
If designated agency is permitted under the circumstances and has been approved by the Clients and Buyer/Tenant previously signed a
representation agreement with the Firm, but did not approve designated agency within the agreement, and is now amending the
agreement to permit designated agency, the DESIGNATED AGENCY ADDENDUM (Form 551) should be attached to the agency
agreements.
AND
Seller/Landlord signed a listing agreement with your Firm, approving dual agency within the agreement, OR Seller/Landlord
previously signed a listing agreement with the Firm, but did not approve dual agency within the agreement, and is now amending the
agreement to permit dual agency by attaching a DUAL AGENCY ADDENDUM (Form 550) to the agreement.
If designated agency is permitted under the circumstances and has been approved by the Clients and Seller/Landlord previously signed
a representation agreement with the Firm, but did not approve designated agency within the agreement, and is now amending the
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agreement to permit designated agency, the DESIGNATED AGENCY ADDENDUM (Form 551) should be attached to the agency
agreements.
AND
Prior to OFFERING OR SHOWING your Firm’s listings, you checked to be certain both the seller/landlord and the buyer/tenant
approved dual agency. Notice of a dual agency showing has been given to the individual listing agent. All parties clearly understand
that it is a dual agency situation.
Clients have been given copies of all documents.
IF YOU ARE SELLING OR LEASING YOUR OWN LISTING TO YOUR OWN BUYER/TENANT CLIENT, THEN CONSULT
YOUR MANAGER/BROKER.
E. UNLISTED PROPERTY
If you are dealing with unlisted property, you will need to complete a DISCLOSURE AND FEE AGREEMENT FOR NON-LISTED
PROPERTY – SALE (Form 573) or a DISCLOSURE AND FEE AGREEMENT FOR NON-LISTED PROPERTY – LEASE
(Form 574). These forms provide for compensation by the seller/landlord and permit a firm to act as the agent of either the seller/landlord
or the buyer/tenant; you must indicate your agency status in the forms.
DISCLOSURE AND FEE AGREEMENT FOR NON-LISTED PROPERTY – SALE (Form 573) has been signed by seller and
Firm is representing seller.
• WORKING WITH REAL ESTATE AGENTS (Form 520) has been given to and reviewed with Client at first substantial contact,
and Client has signed the form acknowledging its receipt and review. THIS FORM IS MANDATORY UNDER THESE
CIRCUMSTANCES BY NORTH CAROLINA REAL ESTATE COMMISSION RULE.
DISCLOSURE AND FEE AGREEMENT FOR NON-LISTED PROPERTY – SALE (Form 573) has been signed by seller and
Firm is representing buyer (that is, Firm has a buyer representation agreement with buyer).
• WORKING WITH REAL ESTATE AGENTS (Form 520) has been given to and reviewed with seller at first substantial contact,
and seller has signed the form acknowledging its receipt and review. THIS FORM IS MANDATORY UNDER THESE
CIRCUMSTANCES BY NORTH CAROLINA REAL ESTATE COMMISSION RULE.
• NOTE: In circumstances where a specific Buyer is not identified on this form, the form permits identification of buyer clients
by submitting a CONFIRMATION OF AGENCY RELATIONSHIP AND REGISTRATION STATEMENT (Form 510)
identifying subsequent registered buyers under the fee agreement. Failure to identify buyers may result in the seller not being
obligated to pay a commission under the agreement.
DISCLOSURE AND FEE AGREEMENT FOR NON-LISTED PROPERTY – LEASE (Form 574) has been signed by landlord
and Firm is representing landlord.
• WORKING WITH REAL ESTATE AGENTS (LEASE TRANSACTIONS) (Form 521) has been given to and reviewed with
Client at first substantial contact, and Client has signed the form acknowledging its receipt and review.
Use of this form is not
mandated by Commission rules, but is advised.
• If you complete the sales protection provision, then you must also give the WORKING WITH REAL ESTATE AGENTS (Form
520) to Client at first substantial contact and review it with Client. Client must sign the form acknowledging its receipt and review.
THIS FORM IS MANDATORY UNDER THESE CIRCUMSTANCES BY NORTH CAROLINA REAL ESTATE
COMMISSION RULE.
DISCLOSURE AND FEE AGREEMENT FOR NON-LISTED PROPERTY – LEASE (Form 574) has been signed by landlord
and Firm is representing tenant (that is, Firm has a tenant representation agreement with tenant).
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• WORKING WITH REAL ESTATE AGENTS (LEASE TRANSACTIONS) (Form 521) has been given to and reviewed with
Landlord at first substantial contact, and Landlord has signed the form acknowledging its receipt and review.
Use of this form is not
mandated by Commission rules, but is advised.
• If you complete the sales protection provision, then you must also give WORKING WITH REAL ESTATE AGENTS (Form 520)
to Landlord and review it with Landlord. Landlord must sign the form acknowledging its receipt and review. THIS FORM IS
MANDATORY UNDER THESE CIRCUMSTANCES BY NORTH CAROLINA REAL ESTATE COMMISSION RULE.
F. COMPLIANCE ADDENDUM (Form 560)
Attach this form to listing agreements or buyer/tenant representation agreements from out of state or which in other respects do not comply
with the agency agreements and disclosure rule of the North Carolina Real Estate Commission (21 NCAC 58A.0104). It is the intention of
this form to bring non-complying forms into compliance on basic, required elements only. You need not attach this form to standard form
NCAR listing or buyer/tenant representation agreements.
G. LIMITED NONRESIDENT COMMERCIAL LICENSEE FORMS
These forms should be used when working with an out of state agent who has a Limited Nonresident Commercial License. Pursuant to 21
NCAC 58A.1807(a), no Limited Nonresident Commercial Licensee shall enter North Carolina to perform any act for which licensure is
required until such licensee shall have entered into a Declaration of Affiliation pursuant to 21 NCAC 58A.1807(c) and a brokerage
cooperation agreement pursuant to 21 NCAC 58A.1807(b) with an actively licensed resident North Carolina real estate broker.
DECLARATION OF AFFILIATION (Form 522) has been signed by Firm and Limited Nonresident Licensee.
BROKERAGE COOPERATION AGREEMENT (Form 523) has been signed by Firm and Limited Nonresident Licensee.
H. TERMINATION FORMS
If you wish to terminate an agency agreement, the TERMINATION OF AGENCY AGREEMENT AND RELEASE (Form 576)
should be used.
If a buyer and seller wish to terminate a real estate sales contract and have agreed on how the earnest money deposit is to be disbursed use
the TERMINATION OF CONTRACT AND RELEASE OF EARNEST MONEY (Form 582-T). When a sales contract is terminated
by a Buyer prior to the expiration of the Examination Period (as of right), this form is not required, but may be used to document the
termination and direction to disburse the earnest money deposit.
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Activity
Date Signed (or N/A)
Notes
Listing for Sale
Listing for Lease
Buyer Representation
Compensation
Disclosure and Fee Agreement for Non-Listed Property- Sale (573)
Tenant Representation
Compensation
Disclosure and Fee Agreement for Non-Listed Property- Lease (574)
Miscellaneous
agreement that did not authorize dual agency) - Dual Agency Addendum
Limited
Non-Resident Licensee
Sales Transaction
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Lease Transactions
Property Management