Exclusive Right To Represent Agreement Form printable pdf download

Exclusive Right to Represent Agreement

This is a legally binding contract – if not fully understood, seek competent legal advice before signing.

This agreement is between __________________________________________, herein referred to as Buyers,

and Anne O’Dell, , Licensed Real Estate Salesperson with Willow Realty, herein referred to as Broker, and

establishes the Broker as Exclusive Buyer Agent in assisting the Buyer(s) in acquiring interest in real property

as herein specified.

The term of this contract begins on _____________________, and ends on

___________________________ or at closing of title of the acquired property, whichever comes first.

Property: The property shall substantially meet the following requirements or be otherwise acceptable to the

Buyer(s):

Retainer fee: At signing of this contract, Buyer(s) shall pay Broker a nonrefundable retainer fee of $______.

This fee (shall) (shall not) be credited toward the Closing Fee.

Closing fee: The closing fee payable under this contract shall n ot exceed the greater of either $__________

or_____% of the purchase price of the real property. This fee shall be paid at closing of title on any subject

property contracted for during the term of this contract or extensions of this contract within _____ days after the

termination of this contract if property was specifically presented to Buyer(s) during the term or extensions of

this contract.

Hourly fee: Buyer(s) shall pay any Broker at the rate of $_____ per hour for the time spent by Broker pursuant

to this contract, due at billing and accounting by Broker. This fee (shall) (shall not) be credited toward the

Closing Fee.

Authorization: The Buyer’s Agent is authorized to negotiate for a commission paid by the seller, the payment

of which will satisfy the Client’s obligation to pay a commission under this Agreement. The payment of any

commission under this agreement by the seller from the sales proceeds will not make the Buyer’s Agent either

the agent or subagent of the seller.

Additional Terms:

Buyer Agency: Buyer(s) hereby appoints Broker as Buyer(s) exclusive Agent, and agrees to conduct all

negotiations for real property through Broker, and to refer to Broker all inquiries from prospective sellers and

their agents during the term of this contract. Broker will make diligent efforts to locate and present appropriate

properties to the Buyers, to negotiate an acceptable offer on property, and to assist in the completion of the

transaction.

Disclosure: Broker shall inform all prospective sellers or their agents at the time of initial contract that Broker

is acting in the role of a Buyer’s Agent. Broker will not disclose confidential information about Buyer(s)

without prior consent. Buyer(s) will disclose to Broker all relevant personal and financial information.

Dual Agency: “As a dual agent, the firm and its agents cannot furnish undivided loyalty to either party.”

Broker shall not participate in any transaction in which Broker is an agent of the Seller(s) or has an interest in

the property without prior written informed consent of both Buyer(s) and Seller(s). (See Designated Agent

Agreement on reverse).

In case Dual Agency, Broker shall act as a mediator between the parties in

negotiations, and shall disclose only information as authorized by either party, or as required by law.

Professional Advice:

Buyer(s) acknowledge the need to obtain professional advice in matters of law,

financing, construction and other matters beyond the Broker’s knowledge of real estate and Broker assumes no

liability for Buyer(s) failure to do so.

Other Buyers: Buyer(s) agrees that Broker may show or present the same property to other prospective buyers.

Assignment: Buyer may not reduce any Broker’s rights under this contract by assignment of rights or interests.

Failure to Close: If transaction does not close due to no fault of the Buyer(s), Closing Fee will be waived. If

the failure to close is the fault of Buyer(s), Closing Fee will be immediately due in full.

Modification: This contract represents the entire agreement between Buyer(s) and Broker, merging all prior

agreements, and any modifications of any terms of this contract shall be in writing and signed by both parties.

_________________________________________

________________________________________

Buyer

Anne O’Dell, Licensed Real Estate Salesperson

_________________________________________

________________________________________

Buyer

Date

This form is supplied to MLS participants as a courtesy of the Multiple Listing Service of Ulster County, Inc.

Exclusive Right To Represent Agreement Form

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