The Buyer Broker Exclusive Employment Agreement serves as a fundamental document in U.S. real estate transactions, protecting both broker and buyer interests. This agreement is typically used when a property buyer seeks dedicated professional representation in their search for and purchase of real estate. The contract details the exclusive nature of the relationship, preventing the buyer from working with other brokers while spelling out the broker's obligations to act in the buyer's best interest. It includes essential elements such as property search criteria, commission structures, term length, and termination conditions, all while complying with state-specific real estate regulations and federal laws.
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Key Requirements PROMPT example:
Buyer Broker Exclusive Employment Agreement
"Need a Buyer Broker Exclusive Employment Agreement for a first-time home buyer in California, with a six-month term starting January 2025, including specific provisions for properties under $750,000 and a commission rate of 2.5%."
1. Parties: Identification of the buyer and broker with full legal names and addresses
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of broker's duties and responsibilities
5. Term of Agreement: Duration and termination conditions
6. Compensation: Commission structure and payment terms
7. Broker's Obligations: Specific duties the broker agrees to perform
8. Buyer's Obligations: Buyer's commitments and responsibilities
1. Dual Agency Provisions: Terms governing potential dual agency situations when broker may represent both buyer and seller
2. Property Specifications: Detailed criteria for properties sought when buyer has specific property requirements
3. Alternative Dispute Resolution: Mediation and arbitration procedures when parties prefer alternative to litigation
1. Agency Disclosure Form: State-mandated disclosure of agency relationships
2. Property Requirements Schedule: Detailed list of buyer's property preferences and requirements
3. Commission Schedule: Detailed breakdown of commission structures and scenarios
4. Service Area Map: Geographic boundaries of broker's service area
Authors
Relevant legal definitions
Agreement
Broker
Buyer
Brokerage Firm
Property
Exclusive Right Period
Territory
Commission
Purchase Price
Closing
Effective Date
Term
Protected Period
Confidential Information
Agency Relationship
Dual Agency
Designated Agency
Showing
Real Estate Transaction
Competing Property Interest
Good Faith Deposit
Multiple Listing Service (MLS)
Purchase Agreement
Settlement Statement
Fair Market Value
Fiduciary Duties
Material Defect
Force Majeure
Business Day
Termination Date
Broker
Buyer
Brokerage Firm
Property
Exclusive Right Period
Territory
Commission
Purchase Price
Closing
Effective Date
Term
Protected Period
Confidential Information
Agency Relationship
Dual Agency
Designated Agency
Showing
Real Estate Transaction
Competing Property Interest
Good Faith Deposit
Multiple Listing Service (MLS)
Purchase Agreement
Settlement Statement
Fair Market Value
Fiduciary Duties
Material Defect
Force Majeure
Business Day
Termination Date
Clauses
Agency Relationship
Appointment and Authority
Exclusivity
Term and Termination
Broker Compensation
Broker Duties and Responsibilities
Buyer Obligations
Property Specifications
Confidentiality
Representations and Warranties
Dual Agency Consent
Commission Protection
Indemnification
Fair Housing Compliance
Dispute Resolution
Governing Law
Assignment
Severability
Force Majeure
Entire Agreement
Modification
Notices
Waiver
Liability
Insurance
Cooperation
Good Faith
Data Protection
Counterparts
Survival
Appointment and Authority
Exclusivity
Term and Termination
Broker Compensation
Broker Duties and Responsibilities
Buyer Obligations
Property Specifications
Confidentiality
Representations and Warranties
Dual Agency Consent
Commission Protection
Indemnification
Fair Housing Compliance
Dispute Resolution
Governing Law
Assignment
Severability
Force Majeure
Entire Agreement
Modification
Notices
Waiver
Liability
Insurance
Cooperation
Good Faith
Data Protection
Counterparts
Survival
Relevant Industries
Relevant Teams
Relevant Roles
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