The Exclusive Buyer Tenant Representation Agreement is a crucial document in U.S. real estate transactions that formalizes the professional relationship between a broker and a client seeking to purchase or lease property. This agreement ensures that the broker's interests are protected while providing the client with dedicated representation services. The document typically includes specific terms about the scope of services, compensation structure, duration of the agreement, and the exclusive nature of the relationship. It's particularly important in competitive real estate markets where clear representation agreements are essential for protecting all parties' interests.
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1. Parties: Identification of the broker/agent and the buyer/tenant, including full legal names and contact details
2. Background: Brief context explaining the purpose of the agreement and the parties' intentions
3. Definitions: Key terms used throughout the agreement including 'Exclusive Period', 'Property Requirements', 'Territory', etc.
4. Scope of Services: Detailed description of services the broker will provide to the buyer/tenant
5. Term and Termination: Duration of the agreement and conditions for termination
6. Compensation: Fee structure, payment terms, and conditions for commission
7. Duties and Obligations: Responsibilities of both parties during the agreement period
8. Agency Relationship: Clear statement of the exclusive nature of representation
1. Property Requirements: Specific criteria for desired property - used when buyer/tenant has specific requirements that need documentation
2. Protected Properties: List of properties already identified - used when buyer has already viewed properties before signing agreement
3. Dispute Resolution: Mediation and arbitration procedures - used when parties prefer alternative dispute resolution to litigation
4. Assignment: Rights to assign the agreement - used when either party might need to transfer rights
1. Schedule A - Property Requirements: Detailed specifications of desired property characteristics
2. Schedule B - Territory: Geographic area covered by the agreement
3. Schedule C - Fee Structure: Detailed breakdown of fees and commission calculations
4. Appendix 1 - Agency Disclosure: State-mandated agency relationship disclosure form
5. Appendix 2 - Protected Properties: List of properties already shown or discussed
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