Redwood Policy Guide for Unrepresented Parties in Sale Transactions

For transactions involving an unrepresented party, follow the standard Redwood process, clearly label the party as “Unrepresented Purchaser” in all documentation, and ensure proper entries and disclosures per Bright MLS and brokerage requirements.

Forms Process Overview

Agents must adhere to the standard transaction process for their state or jurisdiction, ensuring all required forms are submitted for compliance.

In Virginia, agents must complete the Disclosure of Brokerage Relationship for Unrepresented Party(ies) form. In other jurisdictions, the general Disclosure of Brokerage Relationship form is required to clarify agent roles and prevent conflicts of interest. For the latest requirements, consult the checklist in ZipForms or contact your Broker to confirm necessary disclosures.

Best Practice for Sale Contract

Use the term “Unrepresented Purchaser” when referencing the unrepresented party in contracts and documents.

NVAR FORM

MD (MR) FORM

MD (GCAAR) FORM

Awards Credit Clarification

The agent will receive AGC awards credit based on the net commission income after deducting any applicable referral fees. Only one side will be credited for awards purposes, equating to 1 unit per sale transaction.

Referral Payment Process (Inbound)

Referral fee is applicable to the entire commission.

Entry in Bright MLS

CLICK HERE to view the Bright MLS guideline on how to enter the listing with unrepresented party for comparable purposes.

Title Company Form Completion

When filling out the Title Company information sheet, clearly specify the commission amount paid by the seller. Ensure that the total commission appears as a single line item on the ALTA statement.