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Buyer Agency Agreement Form for the United States

Buyer Agency Agreement Form Template for United States

A legally binding agreement governed by United States real estate and contract law that establishes a formal agency relationship between a prospective property buyer and a real estate agent or brokerage firm. This document outlines the rights, responsibilities, and obligations of both parties during the property search and acquisition process, including compensation terms, duration of the agreement, and scope of services. The agreement incorporates state-specific requirements and federal regulations, particularly regarding fair housing and consumer protection laws, while establishing the framework for the agent's fiduciary duties to the buyer.

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What is a Buyer Agency Agreement Form?

The Buyer Agency Agreement Form serves as the foundational document in a real estate transaction where a buyer seeks professional representation in property acquisition. This agreement, regulated by U.S. federal and state-specific real estate laws, is essential for establishing clear expectations and protecting both parties' interests. It typically precedes any property search or negotiation activities and remains active throughout the specified term. The document includes crucial elements such as the scope of the agent's services, compensation structure, duration of representation, and the parties' respective rights and obligations. This form is particularly important as it formalizes the fiduciary relationship between the buyer and their chosen real estate professional, ensuring transparent communication and professional accountability throughout the property purchase process.

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

1. Parties: Identifies the buyer(s) and the real estate brokerage firm/agent, including complete legal names and contact information

2. Background: Brief context explaining the buyer's intention to engage the agent for property purchase assistance

3. Definitions: Defines key terms used throughout the agreement including 'Agency', 'Exclusive Right', 'Property', and 'Commission'

4. Appointment of Agent: Formal establishment of the agency relationship and its nature (exclusive or non-exclusive)

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

6. Agent's Duties and Responsibilities: Comprehensive list of services the agent will provide, including property search, negotiations, and advisory services

7. Buyer's Duties and Responsibilities: Buyer's obligations including providing accurate information, working exclusively with the agent, and cooperation requirements

8. Compensation: Details of agent's commission structure, payment terms, and circumstances under which compensation is earned

9. Agency Relationships: Disclosure of possible agency relationships and handling of dual agency situations

10. Termination: Conditions and procedures for ending the agreement, including any early termination fees

11. Governing Law: Specifies the state law governing the agreement

12. Signatures: Execution block for all parties to sign and date the agreement

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

1. Property Specifications: Detailed criteria for the desired property, used when buyer has specific requirements

2. Additional Services: Lists any extra services the agent will provide beyond standard duties, such as property management advice or renovation consultation

3. Transaction Coordinator: Details about the assignment of a transaction coordinator and their role, if applicable

4. Virtual Services: Provisions for virtual showings and remote services, particularly relevant in certain circumstances

5. Team Representatives: Information about team members who may assist the primary agent, used for larger brokerages

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

7. Broker Protection Period: Post-termination period during which the agent may still be entitled to compensation

8. Force Majeure: Provisions for unforeseen circumstances that may affect the agreement's performance

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

1. Schedule A - Compensation Structure: Detailed breakdown of commission rates, circumstances, and payment terms

2. Schedule B - Property Requirements: Detailed list of buyer's property preferences, requirements, and exclusions

3. Schedule C - Service Area: Geographic boundaries of the agent's service area

4. Appendix 1 - State-Required Disclosures: Mandatory state-specific real estate agency relationship disclosures

5. Appendix 2 - Fair Housing Notice: Required fair housing information and compliance statements

6. Appendix 3 - Privacy Policy: Brokerage's privacy policy and information handling procedures

Authors

Alex Denne

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

Jurisdiction

United States

Publisher

Ƶ

Document Type

Agency Agreement

Cost

Free to use
Relevant legal definitions






























Clauses




























Relevant Industries

Residential Real Estate

Commercial Real Estate

Real Estate Services

Property Development

Property Investment

Real Estate Brokerage

Legal Services

Property Management

Relevant Teams

Legal

Real Estate Operations

Compliance

Contract Administration

Property Services

Customer Relations

Transaction Processing

Document Management

Risk Management

Relevant Roles

Real Estate Agent

Real Estate Broker

Property Buyer

Real Estate Attorney

Transaction Coordinator

Compliance Officer

Real Estate Manager

Brokerage Owner

Real Estate Operations Director

Contract Administrator

Legal Counsel

Property Investment Manager

Real Estate Consultant

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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