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Buyer Agency Agreement

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					Buyer Agency Agreement
This is an agreement between a potential buyer of property and a broker that is hired to
help facilitate the process. Brokers are a valuable asset that help buyers vet specific
pieces of property, negotiate the price, help broker a deal, and much more. Customize
the broker’s fees, the broker’s responsibilities, the buyer’s conditions, and much more.
This agreement can be used by small businesses or individuals that want to enter into a
broker agreement to help procure a piece of property.
                                 BUYER AGENCY AGREEMENT

THIS BUYER AGENCY AGREEMENT (hereinafter referred to as the “Agreement”), entered
into as of this __________ day of __________, _____ [Instructions: Insert the date of this
agreement] by and between __________________________ [Instructions: Insert the name of
the Buyer] with an address of _____________________________________ [Instructions:
Insert the address of the Buyer] (hereinafter referred to as the “Buyer”)                     and
______________________________ [Instructions: Insert the name of the Broker] with an
address of _____________________________________ [Instructions: Insert the address of
the Broker] (hereinafter referred to as the “Broker”)., sets forth the terms of agreement between
Buyer and Broker with respect to Broker’s representation of Buyer as set forth herein.

1. BROKER’S ENGAGEMENT

This Agreement grants Broker the exclusive and irrevocable right (except as otherwise set forth
herein) to represent Buyer in acquiring real property or a manufactured home from __________
day of __________, _____ [Instructions: Insert the start date of the representation] to
__________ day of __________, _____ [Instructions: Insert the end date of the
representation] or the completion of a resulting transaction, whichever occurs first (the
“Representation Period”). Broker agrees to exercise due diligence and reasonable efforts on
Buyer’s behalf to fulfill the following authorizations and obligations. Broker will perform its
obligations under this Agreement through the individual signing on Broker’s behalf below, who
is either Broker individually or an associate-licensee. Broker agrees that Broker’s duties are
limited by the terms of this Agreement and applicable law.

2. COMPLIANCE WITH LAWS

Broker will comply at all times with all applicable law, including but not limited to those
regarding disclosures.

3. BUYER’S REPRESENTATION

Broker will represent Buyer in any resulting transaction as described in this Agreement.

4. BUYER’S ACKNOWLEDGMENTS

Buyer hereby understands, acknowledges and agrees that depending on the circumstances, it may
be necessary or appropriate for Broker to act as an agent for both Buyer and a seller or other
additional party. Broker shall, as soon as practicable, disclose to Buyer any election to act as a
dual agent representing both Buyer and a seller. If Buyer is shown property listed by Broker,
Buyer shall be deemed to consent to Broker becoming a dual agent representing both Buyer and
seller with respect to those properties, without the need for Broker to make any further
disclosure. Buyer hereby waives any such additional disclosure requirements with respect to any
such property. In the event of dual agency, Buyer agrees that Broker, without the prior written
consent of Buyer will not disclose to any such seller that the Buyer is willing to pay a price
greater than the price offered. Further, Broker, without the prior written consent of any such


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seller, shall not disclose to Buyer that such seller is willing to sell property at a price less than the
listing price. Other than as set forth in this paragraph, a dual agent is obligated to disclose those
known facts materially affecting the value or desirability of the property to both parties, and as
otherwise required by applicable law.

5. CONSENT TO CONFLICTING REPRESENTATION

Buyer hereby understands, acknowledges and specifically agrees that other potential buyers may,
through Broker, consider, make offers on or acquire the same or similar properties as that Buyer
is seeking to acquire. Buyer consents to Broker’s representation of such other potential buyers
before, during and after the Representation Period, or any extension thereof.

6. CONFIDENTIAL INFORMATION

Buyer is advised that a seller or any listing agent may disclose the existence, terms or conditions
of Buyer’s offer unless other parties and their agent have signed a written confidentiality
agreement. Whether any such information is actually disclosed depends on many factors, such
as current market conditions, the prevailing practice in the real estate community, the listing
agent’s marketing strategy and the instructions of any seller.

7. CONFIRMATION OF AGENCY RELATIONSHIP

If required by law, Broker shall confirm the agency relationship described above, or as modified,
in writing, prior to or simultaneously with Buyer’s execution of a sales contract.

8. RETAINER FEE

Upon execution of this Agreement, Buyer shall pay to Broker a non-refundable retainer fee of
$__________ [Instructions: Insert the Broker’s retainer fee amount] for Broker’s services.
This fee is not refundable and shall be credited toward any compensation due Broker under this
Agreement.

9. COMMISSION

Buyer agrees to pay Broker a commission of _____% [Instructions: Insert the commission
percentage Broker will receive] of the purchase price of any property acquired under this
Agreement. Broker shall be entitled to the compensation agreed to pursuant to the following
circumstances: ________________________________________________________________.
[Instructions: Insert when the Broker will be entitled to receive commission, e.g. when
escrow closes, when an offer is made, etc.] Buyer shall be solely responsible for the payment of
Broker’s fees as set forth herein. Buyer, for purposes of this paragraph, shall include any person
or entity related to Buyer or who in any manner acts on Buyer’s behalf to acquire the property
described herein.

10. OTHER REPRESENTATIONS




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Buyer has not entered into any other representation agreement with any other broker regarding
the property described herein, except as follows: _________________________________.
[Instructions: Insert the details of any other broker the Buyer has hired] Buyer warrants that
Buyer has no obligation to pay compensation to any other broker regarding property described
herein except as follows: ______________________________________. [Instructions: Insert
when and how the other brokers that Buyer has hired will get paid] If Buyer purchases a
property specified above during the time in which Buyer is obligated to pay another broker,
Buyer shall not be required to compensate Broker, nor is Broker obligated to represent Buyer in
said transaction.

[Instructions: If Buyer has not hired any other brokers, delete the provision above]

11. VIRTUAL TOURS

Buyer acknowledges and agrees that properties presented to them may have been marketed
through a virtual tour on the Internet, permitting potential buyers to view properties over the
Internet, that neither provider nor Broker has control over who will obtain access to the service
or what action such persons might take and Broker has no control over how long the information
concerning the properties will be available on the Internet.

12. BUYER’S AUTHORIZATIONS

Buyer authorizes Broker to locate and present selected properties to Buyer; present authorized
Buyer offers; and assist Buyer in negotiating for acceptance of such offers. Broker is also
authorized to assist Buyer with the financing process, including obtaining loan pre-qualification,
and upon request, to provide Buyer with a list of professionals or vendors performing services as
requested, order reports and schedule and attend meetings and appointments with Buyer’s chosen
professionals, and provide Buyer guidance with the property acquisition and obtain Buyer’s
credit report.

13. PROPERTY INSPECTION

For property transactions of which Broker is aware and not precluded from participating in by
Buyer, Broker shall provide and review forms to create a property contract for the acquisition of
a specified property. With respect to such specified property, Broker shall make a reasonably
competent visual on-site inspection of the accessible areas of the property and disclose to Buyer
all facts materially affecting the value or desirability of such property revealed by this inspection,
all disclosures material or information received by, in the personal possession of or personally
known to broker during the Representation Period or otherwise required by applicable law.
Broker will not be required to make any independent verification of any such information, unless
otherwise agreed to or required by applicable law.

14. ADDITIONAL INSPECTIONS

Buyer understands, acknowledges and agrees that Buyer should select additional professionals to
inspect the property through inspections, tests, surveys, reports, studies and other available



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information throughout the transaction. Buyer understands, acknowledges and agrees such
inspections, tests, surveys, reports, studies and other available information are outside the scope
of Broker’s expertise and duties as described herein.

15. PURCHASE PRICE

Buyer understands, acknowledges and agrees that Broker does not decide the price Buyer should
pay or seller should accept; and that Broker makes no guarantees regarding the property
condition, performance, adequacy or completeness of inspections, services, products or repairs
provided by seller or others; does not have any obligation to conduct any inspection of the
property except as set forth herein; shall not be responsible for identifying defects on the
property, except as otherwise set forth herein; shall not be responsible for inspecting public
records, permits, boundary lines, verifying square footage or other information contained in any
other material concerning the title or use of the property; shall not be responsible for providing
legal or tax advice or other advice or information exceeding the knowledge, education and
experience required to perform real estate licensed activity. Further, Buyer understands,
acknowledges and agrees that Broker has no duty to inspect for environmental hazards,
earthquake weaknesses or other geologic or seismic hazards.

16. BUYER’S DUTIES

Buyer agrees to timely vie and consider properties selected by Broker and to negotiate in good
faith to acquire a property and to act in good faith toward the completion of a property contract.
Buyer will provide Broker within ____ [Instructions: Insert the number of days Buyer has to
provide Broker with the relevant information] business days of this Agreement with the
relevant personal and financial information to assure Buyer’s ability to acquire the property
described herein. If Buyer fails to provide such information or does not qualify to purchase such
property, Broker may cancel this Agreement.

17. MATERIAL ISSUES

Buyer shall notify Broker in writing of any material issues to Buyer.

18. DISPUTE RESOLUTION

Any dispute between Buyer and Broker shall be mediated. If a settlement is not reached in
mediation, the matter shall be submitted to binding arbitration in accordance with the rules of the
American Arbitration Association or other mutually agreeable arbitrator.

19. NOTICES

Any notices sent or required to be sent pursuant to this Agreement shall be in writing and be
deemed to be duly served if mailed, postage prepaid, certified mail, return receipt requested, or
delivered by Federal Express or other comparable overnight carrier, or delivered in hand by a
duly appointed constable, to the addresses of the parties stated in the first paragraph of this




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Agreement or to such other addresses as either party may notify the other by notice given
pursuant to this paragraph.

20. GOVERNING LAW

This Agreement shall be construed, interpreted and enforced in accordance with the laws of the
State of _________________________. [Instructions: Insert the state’s laws that will govern
this agreement]

21. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement of the parties with respect to its subject matter,
and may not be changed orally, but only by an agreement in writing signed by the party against
whom the enforcement of any waiver, change, modification, extension or discharge is sought.

22. SEVERABILITY

In the event that any portion of this Agreement shall be deemed null and void or unenforceable
by any court of competent jurisdiction, then notwithstanding the same, the remaining provisions
of this Agreement shall be full force and effect.

23. COUNTERPARTS

This Agreement or any subsequent amendment or modification hereto may be executed by
facsimile and/or in one or more counterparts, each of which when so executed and delivered
shall be deemed an original, but all of which taken together shall constitute but one and the same
original. Each party shall accept any such signed faxed counterpart as full execution of this
Agreement or any subsequent amendment or modification thereto.

24. BUYER’S ACKNOWLEDGEMENT

Buyer acknowledges that Buyer has read, understands and has received a copy of and agrees to
the terms set forth in this Agreement.


IN WITNESS WHEREOF, Buyer and Broker have hereby executed this Agreement as of the
date first above written.


BUYER



_________________________




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BROKER



_________________________




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DOCUMENT INFO
Description: This is an agreement between a potential buyer of property and a broker that is hired to help facilitate the process. Brokers are a valuable asset that help buyers vet specific pieces of property, negotiate the price, help broker a deal, and much more. Customize the broker’s fees, the broker’s responsibilities, the buyer’s conditions, and much more. This agreement can be used by small businesses or individuals that want to enter into a broker agreement to help procure a piece of property.