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Buyer Agency Contract for the United States

Buyer Agency Contract Template for United States

A Buyer Agency Contract is a legally binding agreement used in the United States that establishes a professional relationship between a real estate buyer and a licensed real estate agent or broker who will represent the buyer's interests in a property purchase. This document outlines the rights, responsibilities, and obligations of both parties, including the scope of services, compensation structure, and duration of the relationship. It incorporates state-specific requirements and federal regulations governing real estate transactions, ensuring compliance with local real estate laws and professional standards while protecting both the buyer's and agent's interests throughout the property search and acquisition process.

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What is a Buyer Agency Contract?

The Buyer Agency Contract serves as the foundational document establishing the professional relationship between a property buyer and their chosen real estate representative in the United States. This agreement is essential in modern real estate transactions, becoming increasingly standard practice since the 1990s when buyer representation became more formalized in the industry. The contract explicitly defines the agent's duties to the buyer, including property search, negotiation support, and professional advice, while establishing clear terms for compensation and service duration. It protects both parties' interests by clearly delineating responsibilities and expectations, incorporating both state-specific requirements and federal regulations. This document is particularly crucial in today's complex real estate market, where buyers need dedicated representation to navigate competitive markets, complex transactions, and extensive legal requirements. The Buyer Agency Contract helps prevent misunderstandings about representation and ensures compliance with state real estate laws and professional standards.

What sections should be included in a Buyer Agency Contract?

1. Parties: Identification of the buyer(s) and the real estate brokerage/agent

2. Background: Context of the agreement and general purpose

3. Definitions: Key terms used throughout the agreement

4. Appointment and Authorization: Formal appointment of the agent and scope of authority granted

5. Term of Agreement: Duration of the agency relationship, including start and end dates

6. Agent's Duties and Responsibilities: Detailed listing of services the agent will provide to the buyer

7. Buyer's Duties and Responsibilities: Buyer's obligations, including cooperation and good faith requirements

8. Compensation: Terms of payment, commission rates, and circumstances under which compensation is earned

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

10. Confidentiality: Protection of confidential information and exceptions

11. Fair Housing Commitment: Commitment to comply with fair housing laws and non-discrimination

12. Termination Rights: Conditions and process for ending the agreement

13. Dispute Resolution: Process for handling disagreements and conflicts

14. General Provisions: Standard contract clauses including governing law, amendments, and notices

What sections are optional to include in a Buyer Agency Contract?

1. Teams and Assistants: Details about additional team members who may assist with buyer representation

2. Property Type Specifications: For buyers seeking specific types of properties (e.g., commercial, luxury, investment)

3. Virtual Services: Provisions for remote showings and electronic communications

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

5. Buyer's Broker Exclusions: List of specific properties or situations excluded from the agreement

6. Additional Services: Optional services offered beyond standard representation

7. Referral Arrangements: Terms for handling referrals to other service providers

What schedules should be included in a Buyer Agency Contract?

1. Schedule A - Property Requirements: Detailed specifications of the type of property the buyer is seeking

2. Schedule B - Commission Structure: Detailed breakdown of compensation arrangements and payment scenarios

3. Schedule C - Agency Disclosure Form: State-mandated agency disclosure documentation

4. Schedule D - Buyer's Financial Qualification: Proof of funds or pre-qualification information

5. Appendix 1 - State-Specific Disclosures: Required state-specific forms and disclosures

6. Appendix 2 - Service Area Map: Geographic boundaries of the agent's service area

7. Appendix 3 - Team Structure: Organization chart and contact information for team members if applicable

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

Real Estate

Residential Property

Commercial Property

Investment Property

Property Development

Professional Services

Legal Services

Relevant Teams

Legal

Real Estate

Compliance

Operations

Contract Administration

Property Management

Risk Management

Transaction Services

Relevant Roles

Real Estate Agent

Real Estate Broker

Property Buyer

Real Estate Attorney

Compliance Officer

Contract Manager

Real Estate Manager

Brokerage Manager

Legal Counsel

Property Consultant

Transaction Coordinator

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

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