The Buyer's Agent Agreement is a fundamental document in U.S. real estate transactions that formalizes the professional relationship between a property buyer and their chosen real estate agent. This agreement is typically used when a buyer wants dedicated representation in their property search and purchase process, ensuring their interests are protected throughout the transaction. The document includes essential elements such as the scope of agent services, compensation terms, duration of representation, and obligations of both parties. It must comply with both federal regulations and state-specific real estate laws, including agency disclosure requirements and fair housing provisions. The agreement helps prevent misunderstandings by clearly defining the agency relationship and setting expectations for both parties while providing legal protection for the specified services and compensation structure.
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1. Parties: Identifies the buyer(s) and the real estate brokerage/agent, including complete legal names and contact information
2. Background: Brief context explaining the purpose of the agreement - buyer seeking representation in purchasing real estate
3. Definitions: Key terms used throughout the agreement including 'Exclusive Right to Represent', 'Property', 'Purchase Price', etc.
4. Appointment and Term: Establishes the agency relationship and specifies the duration of the agreement
5. Agent's Duties and Responsibilities: Detailed listing of services the agent will provide, including property search, negotiations, and advisory services
6. Buyer's Duties and Obligations: Buyer's commitments, including working exclusively with the agent and providing accurate information
7. Compensation: Details of agent's commission, how it's calculated, when it's earned, and who is responsible for payment
8. Agency Relationships: Disclosure of various types of agency relationships and potential dual agency situations
9. Termination: Conditions and process for ending the agreement, including any early termination fees
10. Dispute Resolution: Process for handling disagreements, including mediation or arbitration requirements
11. General Provisions: Standard legal clauses including governing law, entire agreement, amendments, and notices
1. Dual Agency Consent: Required if the brokerage allows dual agency representation
2. Team Representation: Used when multiple agents from the same brokerage may assist the buyer
3. Property Requirements: Specific details about the type of property the buyer is seeking, including price range and location
4. Short Sale/REO Provisions: Added when buyer is specifically interested in distressed properties
5. International Buyer Provisions: Additional terms for non-US residents purchasing property
6. Buyer's Broker Exclusions: List of specific properties or situations excluded from the agreement
7. Virtual Services: Terms covering remote services, virtual showings, and electronic communications
1. Schedule A - Buyer's Property Requirements: Detailed specifications of the type of property the buyer is seeking
2. Schedule B - Commission Schedule: Detailed breakdown of commission structures for different purchase price ranges or property types
3. Schedule C - Excluded Properties: List of specific properties excluded from the agreement
4. Appendix 1 - State-Required Disclosures: Mandatory disclosures required by state law
5. Appendix 2 - Agency Disclosure Form: State-specific form explaining agency relationships
6. Appendix 3 - Fair Housing Notice: Required fair housing information and compliance statements
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Construction
Financial Services
Legal Services
Insurance
Property Development
Relevant Teams
Legal
Compliance
Real Estate Operations
Risk Management
Contract Administration
Transaction Processing
Business Development
Customer Relations
Document Control
Relevant Roles
Real Estate Agent
Real Estate Broker
Brokerage Manager
Real Estate Attorney
Compliance Officer
Legal Counsel
Contract Manager
Real Estate Operations Manager
Risk Management Officer
Transaction Coordinator
Real Estate Director
Agency Relationship Manager
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