This exclusive buyer agency agreement template has 6 pages and is a MS Word file type listed under our real estate documents.
Sample of our exclusive buyer agency agreement template:
EXCLUSIVE BUYER AGENCY AGREEMENT This Exclusive Buyer Agency Agreement (the "Agreement") is effective [DATE], BETWEEN: [BUYER NAME] (the "Buyer"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE] with its head office located at: [YOUR COMPLETE ADDRESS] AND: [SECOND PARTY NAME] (the "Agent"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS Buyer intends to use the services of Agent as its purchasing representative when Buyer makes purchases of the merchandise listed in the attached Exhibit A; WHEREAS Buyer and Agent wish to formalize the method by which they will transact business so as to ensure that both Buyer and Agent will act in this manner in the future; NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS: PURPOSE Agent shall assist Buyer in purchasing real estate, as more particularly described in section 2. Agent's services shall include, but not be limited to, consulting with Buyer regarding the desirability of properties and the availability of financing; formulating acquisition strategies; and negotiating purchase agreements. Buyer acknowledges that Agent is not acting as attorney, tax advisor, surveyor, appraiser, environmental expert or structural or mechanical engineer, and that Buyer should contact professionals on these matters. Agent is not in a position to advise Buyer as to the location of any property within a floodplain or as to floodplain insurance requirements. Buyer is encouraged to consult with appropriate professionals. PROPERTY Buyer desires to purchase real property meeting the following criteria ("Desired Property"): [LIST PROPERTY CRITERIA (TYPE, PRICE RANGE, GEOGRAPHICAL LOCATION, ETC)] EXCLUSIVE AGENT Buyer agrees that during the term of this agreement any and all inquiries and/or negotiations on behalf of Buyer relating to the acquisition of any Desired Property shall be through Broker/Agent. COMPENSATION OF AGENT In consideration for the services to be performed under the agreement, Buyer agrees to pay Agent as follows (check as applicable): Retainer Fee. Buyer will pay Agent a non-refundable Retainer Fee of $ [TOTAL] due and payable upon execution of this agreement. The Retainer Fee shall be applied against any commission owed to Agent. Hourly Fee. Buyer will pay Agent an Hourly Fee of $ [TOTAL] for services performed under this agreement due and payable upon receipt of invoice(s) from Agent. The Hourly Fee shall be applied against any commission owed to Agent. Flat Fee. In the event Buyer contracts to purchase the Desired Property, Buyer will pay Agent a Flat Fee equal to $ [TOTAL]. The Flat Fee is due and payable upon closing; provided, however, that if the transaction does not close because of any default on the part of the Buyer, the Flat Fee shall become immediately due and payable. The Flat Fee obligation shall apply to any purchase agreements executed during the term of this agreement, or during any extension of this agreement. The Flat Fee obligation will also apply to purchase agreements executed within [TOTAL] months after the expiration or other termination of this agreement, if the property acquired was presented to Buyer during the term of this agreement. Commission. In the event Buyer contracts to purchase the Desired Property, Buyer will pay Agent a Commission equal to [PERCENTAGE] % of the purchase price. The Commission is due and payable upon closing; provided however, that if the transaction does not close because of any default on the part of the Buyer, the Commission shall become immediately due and payable. The Commission obligation shall apply to any purchase agreements executed during the term of this agreement, or during any extension of this agreement. The Commission obligation will also apply to purchase agreements executed within [TIMEFRAME] months after the expiration or other termination of this agreement if the property acquired was presented to Buyer during the term of this agreement. CREDIT Buyer will receive a credit against any amount owed pursuant to paragraph 4 above for any commission paid to Agent by the seller or the seller's listing Agent. DISCLOSURE OF AGENT'S ROLE 6.1 At the time of any initial contact, Agent shall inform all prospective sellers and their agents that Agent is acting on behalf of Buyer. Agent will preserve any confidential information obtained during another agency relationship or in a prior or pending transaction or business relationship. Buyer acknowledges and agrees that the preservation of this confidential information shall not constitute a breach of any fiduciary duty owed to Buyer. CONFLICT OF INTEREST (BUYERS) Buyer acknowledges that Agent may represent other buyers desirous of purchasing property similar to the Desired Property. Buyer acknowledges and agrees that Agent may show more than one buyer the same property and may prepare offers on the same property for more than one buyer. Agent shall preserve any confidential information disclosed by any buyer-client and shall not disclose the existence of, or the terms of, any offer prepared on behalf of one buyer to another buyer. In the event Agent works for two competing buyer-clients in connection with any specific property, Agent will be working equally for both buyer-clients and without the full range of fiduciary duties owed by a buyer's agent to a buyer. In this situation, the competing buyer-clients are giving up their rights to undivided loyalty and will be owed only limited duties of disclosure, obedience, and confidentiality. CONFLICT OF INTEREST (SELLERS) In the event Buyer becomes interested in a property listed by Agent (check as applicable): This agreement shall automatically terminate only regarding that seller's property (but shall continue as to all other real property) and Agent shall continue the agency relationship with the seller where the agency relationship was terminated pursuant to his paragraph. Any fees previously paid to Agent by Buyer pursuant to this agreement shall be returned to Buyer at closing. Agent shall act as disclosed dual agent of both Buyer and the seller. In such event, Agent shall be entitled to any fees owed by Buyer pursuant to this agreement. Agent shall act as a transaction coordinator to facilitate the transaction, and not as an agent for either Buyer or the seller. In such event, Agent shall be entitled to any fees owed by Buyer pursuant to this agreement. BUYER DISCLOSURE Buyer agrees to disclose to Agent relevant personal and financial information to assure Agent that Buyer has the ability to complete any transaction which is the subject of this agreement. Buyer hereby grants to Agent the authority to disclose such information as Agent deems necessary or appropriate in order to influence the decision of a seller to accept an offer from Buyer.
