Buyer (___) (___) and Broker/Sales Associate (___) (___) acknowledgment receipt of a copy of this page.
a. Conducting all negotiations and efforts to locate property only through Broker and referring to Broker all
inquiries of any kind from real estate licensees, property owners or any other source. If Buyer contacts or is
contacted by a seller or a real estate licensee who is working with a seller or views a property unaccompanied
by Broker, Buyer will, at first opportunity, advise the seller or real estate licensee that Buyer is working with
and represented exclusively by Broker.
b. Providing Broker with accurate personal and financial information requested by Broker in connection with
ensuring Buyer’s ability to acquire property. Buyer authorizes Broker to run a credit check to verify Buyer’s
credit information.
c. Being available to meet with Broker at reasonable times for consultations and to view properties.
d. Indemnifying and holding Broker harmless from and against all losses, damages, costs and expenses of any
kind, including reasonable attorney's fees, and from liability to any person, that Broker incurs because of
acting on Buyer’s behalf.
e. Not asking or expecting to restrict the acquisition of a property according to race, color, religion, sex, sexual
orientation, age, handicap, familial status, nationality or any other category protected under federal, state or
local law.
f. Consulting an appropriate professional for legal, tax, environmental, inspections, permit searches,
engineering, foreign reporting requirements and other specialized advice.
6. RETAINER: Upon final execution of this Agreement, Buyer will pay to Broker a non-refundable retainer fee of
$ ____________ for Broker’s services (“Retainer”). This fee is not refundable and
will
will not be credited to
Buyer if compensation is earned by Broker as specified in this Agreement.
7. COMPENSATION: Broker’s compensation is earned when, during the term of this Agreement or any renewal or
extension, Buyer or any person acting for or on behalf of Buyer contracts to acquire real property as specified in this
Agreement. Buyer will be responsible for paying Broker the amount specified below but will be credited with any
amount which Broker receives from a seller or a real estate licensee who is working with a seller.
a. Purchase or exchange: $ _________ or _________% (select only one); plus $____________ (select only one)
of the total purchase price or other consideration for the acquired property, to be paid at closing.
b. Lease: $_________ or _________% (select only one) of the gross lease value, to be paid when Buyer enters
into the lease. If Buyer enters into a lease or lease-purchase agreement, the amount of the leasing fee which
Broker receives will not be credited toward the amount due Broker for the purchase.
c. Option or Lease Purchase: Broker will be paid $_________ or _________% of the option amount (select only
one), to be paid when Buyer enters into an option or lease purchase agreement. If Buyer enters into a lease
with option to purchase or a lease purchase agreement, Broker will be compensated for both the lease and the
option. If buyer subsequently exercises the option, the amounts received by Broker for the lease and option
will not be credited toward the amount due Broker for the purchase.
d. Other: Broker will be compensated for all other types of acquisitions as if such acquisition were a purchase
or exchange
e.
Buyer Default: Buyer will pay Broker’s compensation immediately upon Buyer’s default on any contract to
acquire property.
8. PROTECTION PERIOD: Buyer will pay Broker’s compensation if, within ________ days after the Termination Date,
if Buyer contracts to acquire any property which was called to Buyer’s attention by Broker or any other person or
found by Buyer during the term of this Agreement. Buyer’s obligation to pay Broker’s fee ceases upon Buyer entering
into a good faith exclusive buyer brokerage agreement with another broker after Termination Date.
9. EARLY TERMINATION: Buyer may terminate this Agreement at any time by written notice to Broker but will
remain responsible for paying Broker’s compensation if, from the early termination date to Termination Date plus
Protection Period, if applicable, Buyer contracts to acquire any property which, prior to the early termination date,
was found by Buyer or called to Buyer’s attention by Broker or any other person. Broker may terminate this
Agreement at any time by written notice to Buyer, in which event Buyer will be released from all further obligations