Exclusive Transaction Broker Agreement Template for United States

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Key Requirements PROMPT example:

Exclusive Transaction Broker Agreement

"I need an Exclusive Transaction Broker Agreement for a commercial property sale in Florida, where my firm will act as the transaction broker for a retail space valued at approximately $2.5 million, with the agreement starting March 1, 2025."

Document background
The Exclusive Transaction Broker Agreement is commonly used in U.S. real estate transactions when a client seeks professional assistance in buying or selling property while maintaining a non-agency relationship. This document is particularly relevant in states that recognize transaction brokerage as a distinct form of real estate service. The agreement typically includes detailed service descriptions, compensation structures, term conditions, and compliance requirements with both federal and state real estate laws. It provides a clear framework for transaction brokers to assist clients while maintaining neutrality and avoiding traditional agency obligations.
Suggested Sections

1. Parties: Identification of broker and client with full legal names and addresses

2. Background: Context of the agreement and relationship between parties

3. Definitions: Key terms used throughout the agreement including 'Transaction Broker', 'Exclusive Rights', and other relevant terminology

4. Scope of Services: Detailed description of broker's services and obligations as a transaction broker

5. Term and Termination: Duration of agreement and conditions for termination

6. Compensation: Commission structure and payment terms

7. Broker's Obligations: Specific duties and responsibilities of the broker including confidentiality and disclosure requirements

8. Client's Obligations: Specific duties and responsibilities of the client including exclusivity commitments

9. Representations and Warranties: Statements of fact and guarantees made by both parties

10. Governing Law: Specification of applicable state law and jurisdiction

Optional Sections

1. Property Description: Specific property details if agreement relates to particular property

2. Marketing Services: Detailed marketing strategy and obligations if included in scope

3. Virtual Services: Provisions for virtual showings and digital services if offered

4. Dispute Resolution: Mediation and arbitration procedures if parties wish to include alternative dispute resolution

Suggested Schedules

1. Schedule A - Fee Structure: Detailed breakdown of all fees and commission structures

2. Schedule B - Property Details: Specific property information if applicable

3. Appendix 1 - Required Disclosures: State-mandated disclosures and forms

4. Appendix 2 - Service Level Agreement: Detailed description of service standards and expectations

Authors

Alex Denne

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

Industries

RESPA: Real Estate Settlement Procedures Act - Federal law governing real estate settlement processes and disclosures

Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on race, color, religion, sex, national origin, disability, or familial status

ADA Compliance: Americans with Disabilities Act requirements ensuring accessibility and non-discrimination against individuals with disabilities

TILA: Truth in Lending Act - Federal law requiring disclosure of credit terms and standardizing how costs are calculated and disclosed

Anti-Trust Laws: Federal and state laws preventing anti-competitive practices in real estate transactions and brokerage services

State Real Estate Commission Regulations: State-specific rules and regulations governing real estate transactions and broker conduct

State Licensing Requirements: Mandatory licensing and qualification requirements for real estate brokers operating in specific states

State Agency Laws: Laws governing broker-client relationships, fiduciary duties, and agency disclosure requirements specific to each state

State Disclosure Requirements: Mandatory property and transaction-related disclosures required by state law

NAR Code of Ethics: Professional standards and ethical requirements established by the National Association of REALTORSยฎ

Consumer Protection Statutes: State and federal laws protecting consumer rights in real estate transactions

Privacy Laws: Federal and state regulations governing the collection, storage, and use of personal information in real estate transactions

Fiduciary Duties: Legal obligations of loyalty, confidentiality, disclosure, obedience, reasonable care, and accounting to the client

Commission Regulations: State and federal regulations governing commission structures, payments, and fee arrangements in real estate transactions

Insurance Requirements: Professional liability and errors and omissions insurance requirements for real estate brokers

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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