What is a key requirement for buyer representation agreements in Hawaii?

In Hawaii, a key requirement for buyer representation agreements is that they must be in writing. This necessity is rooted in the legal principle that written agreements provide clear documentation of the terms and conditions agreed upon by both parties, as well as the expectations for the real estate transaction. The written format helps eliminate misunderstandings and ensures that all parties have a solid reference point regarding the interests, obligations, and rights established within the agreement.

This requirement aligns with the broader practices of real estate transactions, as written documents help to maintain transparency and enforceability under the law. Ensuring that the agreement is documented in writing protects both the buyer and the real estate professional, allowing for a more structured and professional relationship.

While it is noteworthy that buyer representation agreements can indeed be exclusive or non-exclusive, and they may also include an expiration date, these factors are not universal requirements. The stipulation for state approval is also not a standard requirement; typically, it is the terms of the agreement and the disclosure of it that govern its enforcement, rather than the necessity for a state authority to approve it.