re: Real Estate Etiquette

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A contract as a buyers agent is rare? That's not true at all.

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BUYER AGENCY AGREEMENT
The undersigned _______________________________________, hereinafter designated as Buyer or Client,
hereby engages _________________________________________, hereinafter designated as Broker, as
Client’s sole and exclusive agent to locate property described below or other property acceptable to Buyer,
and to negotiate terms and conditions acceptable to Buyer for purchase, exchange, lease, or option to buy.
IF A BUYER CHOOSES TO BE REPRESENTED AS A CLIENT, THE FOLLOWING SHALL APPLY:
1. PROPERTY DESIRED: General description of possible suitable properties includes:
a. Type (residential, land, commercial, etc): _________________________________________
b. Transaction (purchase, rent/lease, exchange, option, etc.): ____________________________
c. Location: ___________________________________________________________________
d. General Requirements of Property (continue on addendum if necessary): ________________
__________________________________________________________________________
e. Date Required: ______________________________________________________________
f. Price Range: ________________________________________________________________
g. Other Terms/Conditions (continue on addendum if necessary): ________________________
__________________________________________________________________________
2. TIME OF COMMENCEMENT & DURATION OF AGENCY: Broker is granted authority as
Buyer’s exclusive agent beginning on _____________________, and continuing until
_______________________, or until Buyer closes the purchase of real property that is the subject
of Paragraph 1 hereinabove, whichever occurs first.
3. CONDITION OF PROPERTY AND NECESSITY OF INSPECTION: Client acknowledges and
agrees that:
a. In locating properties for Client, Broker may rely on statements or representations of others,
and that any given property may not satisfy all the requirements expressed by Client, and that
Broker makes no representations whatsoever regarding the condition of the property or its
suitability for Client’s intended purposes, and
b. Broker and its associates (also sometimes referred to as licensees) lack the expertise to
determine the condition of the property and, therefore, Client will not rely on any statements
or omissions made by Broker or its associates regarding the condition of the property, and
c. Client, and not Broker, has the responsibility to determine or verify, either personally, or
through, or with a licensed contractor or other representative of Client’s choosing, any and all
conditions of the property material to Client’s decision to buy the property, and
d. Client is aware that professional inspection services and/or contractors may be engaged for
this purpose and that Broker and its associates strongly recommend the use of such
professionals.
4. LIMITED CONSENSUAL DUAL AGENCY – BROKER LISTED PROPERTY: See Company
Policy on Addendum _____.
This contract is for use by Jonathan Williams. Use by any other party is illegal and voids the contract.
Buyer Agency Agreement Page 2 of 2
5. BROKER COMPENSATION: THE COMMISSION PAYABLE TO THE BROKER IN THIS TRANSACTION IS
NOT SET BY THE BIRMINGHAM ASSOCIATION OF REALTORS®, BUT IN ALL CASES IS NEGOTIABLE
BETWEEN THE BROKER AND CLIENT.
a. BROKERAGE FEE:
i. Purchase/Exchange: Client agrees to pay Broker, as compensation for locating
property acceptable to Client and negotiating the purchase or exchange, a fee of
$____________________, or __________% of the purchase price.
ii. Option: Client agrees to pay Broker as compensation for obtaining an option on a
property acceptable to Client a fee of $____________________, and to pay Broker the
balance of a fee of __________% of the purchase price in the event the option is
exercised by Client or Client’s assignee.
iii. Lease: Client agrees to pay Broker as compensation for locating a property acceptable
to Client and negotiating a lease thereon a fee of $____________________.
b. PAYMENT OF FEE BY THIRD PARTIES: Broker agrees that, if it receives a fee or
commission from the seller or seller’s broker, the fee received shall be credited against the
amount owed by the Client hereunder. Any compensation or fee accepted by Broker from the
seller or seller’s broker will be in lieu of any obligation by Client to pay the compensation, as
agreed above.
c. EXCLUSIVE AGENCY: COMMISSION EARNED ON COMPLETION OF
TRANSACTION AFTER EXPIRATION. If Client acquires property shown by Broker
during the period of this Agreement or within ________ days after expiration of this
Agreement, the Client is obligated to pay Broker the commission described hereinabove. If
the Client is contacted directly by a Seller or other real estate agent or broker, the Client shall
refer them to Broker.
6. AFFILIATED BUSINESS ARRANGEMENTS: Buyer is hereby notified that Broker has a
business relationship with the following companies, and those relationships may provide Broker a
financial or other benefit: _______________________________________________ .
7. PRIVACY AND SECURITY POLICY: As part of Broker’s business operations, we collect nonpublic
personal information on applications and other forms. It is our policy that we may disclose
any or all of the non-public information that we collect to affiliated and/or non-affiliated companies
that perform services or functions on our behalf (for example, private mortgage, insurance, and/or
quality control companies) and other non-affiliated financial institutions with whom we may have a
joint marketing agreement (for example, insurance companies). Broker restricts access to non-public
personal information about you to those employees whom we determine have a legitimate business
purpose to access such information.
8. NONDISCRIMINATION: It is illegal to discriminate in the sale or lease of real estate because of
race, color, religion, handicap, familial status, sex, or national origin.
This agreement is intended to be the legal and binding contract of all parties, and may affect your legal rights. If not understood,
seek competent legal advice. Signatures on this Agreement may be obtained on facsimile copies for the purpose of contractual
agreement; therefore, such facsimile signatures shall be deemed legal and binding.
_________________________________________________ __________________________________________________
Buyer Date Brokerage Firm Name
_________________________________________________ __________________________________________________

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