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Buyer Broker Agreement Form for the United States

Buyer Broker Agreement Form Template for United States

A Buyer Broker Agreement Form is a legally binding contract used in the United States that establishes an official relationship between a real estate buyer and a broker/brokerage firm. This document outlines the terms and conditions under which the broker will represent the buyer in real estate transactions, including the scope of services, compensation structure, duration of representation, and mutual obligations. The agreement must comply with both federal real estate regulations and state-specific requirements, including agency disclosure laws and professional licensing standards. It serves as a crucial protection for both parties by clearly defining the parameters of their professional relationship and the broker's fiduciary responsibilities.

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What is a Buyer Broker Agreement Form?

The Buyer Broker Agreement Form is a fundamental document in U.S. real estate transactions that formalizes the professional relationship between a prospective property buyer and their chosen real estate broker. This agreement is typically used when a buyer wishes to secure exclusive representation in their property search and purchase process. The document includes essential elements such as the broker's duties, compensation structure, term of representation, and the geographical area or property types covered. It provides legal protection for both parties and ensures compliance with state-specific real estate regulations and federal laws. The agreement is particularly important in competitive real estate markets where having dedicated representation can be crucial for successful property acquisition. Used in both residential and commercial contexts, this contract type helps prevent misunderstandings and establishes clear expectations for the duration of the professional relationship.

What sections should be included in a Buyer Broker Agreement Form?

1. Parties: Identifies the broker/brokerage firm and the buyer(s) with their complete legal names and addresses

2. Background: Brief context establishing the buyer's intention to retain the broker's services to assist in purchasing real estate

3. Definitions: Key terms used throughout the agreement including 'Property Requirements', 'Exclusive Right', 'Purchase Price', and 'Broker's Services'

4. Term of Agreement: Specifies the duration of the agreement, including start and end dates

5. Broker's Services and Obligations: Detailed description of services the broker will provide, including property search, negotiations, and advisory services

6. Buyer's Obligations: Outlines the buyer's responsibilities, including providing accurate information and working exclusively with the broker

7. Compensation: Details of broker's commission, including rate, payment timing, and circumstances requiring payment

8. Agency Relationship: Clarifies the nature of the agency relationship and broker's fiduciary duties

9. Termination Rights: Conditions under which either party may terminate the agreement and the consequences

10. Dispute Resolution: Procedures for handling disputes, including mediation or arbitration requirements

11. General Provisions: Standard legal provisions including governing law, amendments, and notices

What sections are optional to include in a Buyer Broker Agreement Form?

1. Dual Agency Consent: Required when the broker may potentially represent both buyer and seller in a transaction

2. Property Requirements: Specific details about the type of property the buyer is seeking, used when buyer has very specific criteria

3. Short Sale/REO Properties: Special provisions when buyer is interested in distressed properties

4. Virtual Services: Provisions for remote services when broker will conduct business primarily through electronic means

5. Team Designation: Required when multiple agents within the brokerage will be working with the buyer

6. International Buyer Provisions: Additional terms for international buyers, including currency considerations and foreign investment requirements

What schedules should be included in a Buyer Broker Agreement Form?

1. Schedule A - Property Requirements: Detailed list of buyer's desired property characteristics, location preferences, and price range

2. Schedule B - Commission Structure: Detailed breakdown of commission rates and payment terms for different transaction scenarios

3. Schedule C - Broker's Service Package: Comprehensive list of specific services included in the broker's representation

4. Appendix 1 - Required State Disclosures: State-mandated disclosures and forms

5. Appendix 2 - Agency Disclosure Form: State-specific agency relationship disclosure form

6. Appendix 3 - Fair Housing Notice: Required fair housing information and compliance statements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Document Type

Agency Agreement

Cost

Free to use
Relevant legal definitions






























Clauses






























Relevant Industries

Real Estate

Legal Services

Financial Services

Property Development

Property Management

Professional Services

Construction

Investment Management

Relevant Teams

Legal

Real Estate Operations

Compliance

Contract Administration

Business Development

Client Relations

Risk Management

Document Management

Transaction Processing

Relevant Roles

Real Estate Broker

Real Estate Agent

Real Estate Attorney

Property Manager

Real Estate Transaction Coordinator

Compliance Officer

Legal Counsel

Real Estate Investment Manager

Business Development Manager

Contract Administrator

Real Estate Operations Manager

Client Relations Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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