Why Do I Need to Use Utah Realtor Forms?

Utah, a state in the Western United States, is known for its amazing landscape, low crime rates, and exceptional quality of life. Living in Utah is more affordable than the adjoining states such as Colorado. The affordability in Utah does not compromise the quality, and you get the same, ideal living conditions.

In Utah, realtors represent a brokerage, and the agreements are made between you (as a buyer or a seller) and the realtor’s brokerage. The realtor form is an agreement between you as a client and the brokerage.

The agreement facilitates the clients to work with a realtor that puts their interests first and negotiates for them. Realtor forms can be signed electronically with an approved digital signing program such as Cocosign.

Signing a realtor form means that you are entering into an agreement after which the person will start showing you homes or become a buyer’s agent. You will need to use realtor forms to comply with the statutory requirements of Utah.

Cocosign has an intuitive interface to fill these forms. While signing the realtor forms, you should opt for the best agent, i.e. the one who knows well the local real estate market of Utah.

How Do I Get My Real Estate License in Utah?

If you want to become a real estate agent in Utah, you will have to fulfill the pre-licensing requirements. Fortunately, academic qualifications at the university level are not needed, and you qualify if you age 18 years or more and possess at least a high school diploma.

The following steps will lead you to become a successful real estate agent:

  • As a pre-licensing requirement, you will need to complete 120 hours of education applicable to real estate agents. You should also secure a minimum of 70% in the final exam.
  • You will appear in the Utah real estate sales agent licensing exam administered by Pearson VUE.
  • When you are successful in the licensing exam, you can apply online for a real estate agent license at the Utah Division of Real Estate. You will get 90 days for online application from the day you passed your licensing exam. The acquisition of a license will cost you $152.
  • Once you are a licensed real estate agent, you may also consider a membership with the local real estate association that will cost you between $700 and $1300 a year.

What Are the Main Elements of Utah Realtor Forms?

Utah realtor forms can be signed for various contracts including the rental agreement, purchase agreement, seller REPC form, loan addendum, and transaction log. In a typical REPC form, almost 25 to 26 points are stated. It is a legally binding contract between real estate licensees and buyer/seller. The main elements of the form are as follows:

  • Property clause mentions included/excluded items and water rights.
  • The purchase price is also declared with the method of payment and financing condition.
  • Settlement and possession dates are also confirmed along with the selling disclosures and agency disclosure.
  • The form also mentions the right of the buyer to cancel the agreement upon a physical inspection of the property.
  • General and special contingencies are also included concerning the right to cancellation and failure to respond.
  • The form also indicates warranties including the Home Warranty Plan.
  • Other important elements include dispute resolution, fees and costs, risk assessment, and contract deadlines. The form is signed by the buyer, and the seller either accepts or rejects the offer.

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