THE ADVANTAGES OF A
BUYER AGENCY AGREEMENT

Your interests are professionally represented —

Enlisting the services of a professional Buyer’s Agent is similar to using an accountant to help you with your taxes, a doctor to help you with your health care, or a mechanic to help you with your car. If you had the time to devote to learning everything about accounting, medicine, and automotive mechanics, you could do these services yourself. But who has the time? This is why you allow other professionals to help you in their specific areas of expertise.

We will take care of the hassles of everyday real estate transactions for you. We let you concentrate on your fulltime job, while we do our job. We will guide you through the home-buying process and exclusively represent your interests as we help you find a home, present your contract offer, negotiate, and close on your home!

You get a personal specialist who knows your needs —

Just as your accountant, doctor, and mechanic understand your specific needs, your Buyer’s Agent gets to know your real estate needs and concerns. This type of relationship is built through open communication at all times. Your Buyer’s Agent will save you a lot of time by providing you all the details about any home before you see it. In addition, your Buyer’s Agent will listen to your feedback and concerns about each home.

You will quickly and conveniently get a great home —

The advantage to signing a Buyer’s Agency Agreement with me is that you will have a professional agent working to find and secure the ideal home for you. It is nearly impossible to find a home that meets your needs, get a contract negotiated, and close the transaction without an experienced agent. You won’t need to spend endless evenings and weekends driving around looking for homes or trying to search computer networks by yourself. When you tour homes with your professional Buyer’s Agent, you will already know that the homes meet your criteria and are within your price range.

What is the Buyer’s Agency Agreement —

Entering into a Buyer’s Agency Agreement has countless advantages. When you sign the agreement, you are simply agreeing to “hire” a personal representative who, by law, must represent your best interests to the best of his/her ability. All of this personal service is available at absolutely NO COST TO YOU! The Seller’s Agent is responsible for paying your Buyer’s Agent fee. With me, you get a professional agent devoted to protecting your needs and to helping you make one of the most important investment decisions of your life –- and you don’t even have to pay the fee!

Outlined below are the things you can expect your buyer agent to do for you…and also what we cannot do.

Sample agreement

Exclusive Buyer Agency Agreement

The Exclusive Buyer Agency Agreement is made between Karen Callan (Agent) and _________ In consideration of the mutual promises set forth below, buyer and agent agree as follows:

1. EXCLUSIVE BUYER AGENCY. Buyer grants to Agent the exclusive right to locate or procure real property acceptable for purchase/lease by BUYER. Buyer further agrees to refer all potentially acceptable real property to the agent during the term of this agreement and agrees to notify all other real estate agents who communicate with the Buyer of the Agent’s exclusive agency relationship with Buyer. The final decision whether or not a property is acceptable for purchase shall be solely within the discretion of the Buyer.

2. Agent’s Services/Duties, Agent agrees to use reasonable efforts to locate real property acceptable to the Buyer and to assist Buyer in the negotiation regarding the terms and conditions of a contract acceptable to the buyer. The contract may consist of an accepted offer, a Purchase and Sale agreement, option, deed, exchange agreement, lease or similar instrument. Agent agrees to assist in locating properties, arrange showing, analyze financing alternatives, give advice concerning real estate practices and procedures, assist in negotiations, prepare a Competitive Market Analysis, arrange inspections requested by Buyer and coordinate activities throughout the process. Buyer agrees that services do not constitute a guaranty or warranty concerning any real property. Buyer agrees that the Agent has not been retained as an attorney, inspector, home inspector, inspector, surveyor or to determine the condition of the real property and has not been retained to provide legal advice, to provide an opinion concerning lawfulness of current or anticipated uses, to perform a title search or to act as a mortgage broker. Buyer agrees that agent shall have no duty to disclose any matter or condition outside the boundaries of the real property being considered for purchase, including, but not limited to, present condition and anticipated changes in the neighborhood where the property is located. Agent recommends that an attorney and other professions be hired for such services as Buyer deems appropriate and that Buyer personally investigate particular matters which may be of importance, including, but not limited to, neighborhood composition, the level of crime and the presence of sex offenders. Broker agrees to preserve confidential information of the Buyer making disclosure of confidential information solely to the extent necessary to establish Buyer’s financial qualification. Agent represents that the agent is duly licensed as a real estate agent by the Commonwealth of Massachusetts.

3. TERM OF AGENCY The term of this agreement shall be from ______ unless terminated by either party in writing or extended.

4. Buyer’s Duties: Buyer agrees to work exclusively with the Agent during the term of this agreement. Buyer agrees to conduct all negotiations with the knowledge and assistance of the Agent. Buyer agrees to cooperate with the agent by providing relevant personal and financial information and to co-operate in scheduling and attending showings. Buyer agrees to advise Agent of any interest in purchase or lease of real property about which Buyer was previously advised by any other person. Buyer shall provide any lender’s letter of pre-approval or pre-qualification to the Agent within 7 days of receipt of this agreement. Buyer agrees not to attend any open house without advance notice and approval of the Agent and agrees to advise each listing broker at each open house of Buyer’s agency relationship with said agent. Buyer represents that the Buyer is not subject to any earlier agency agreement with any other broker or any protection period. Buyer understands that this agreement does not relieve buyer of the duty to exercise due diligence for Buyer’s own protection, including the duty to investigate any information of importance to the Buyer.

5. BROKER’S COMPENSATION: Compensation paid to agent is paid by seller.

The parties agree that compensation equal to 2.5% (negotiable) or greater shall be due Agent upon successful completion of this Agreement or in the event that, within 90_days following the term of this Agreement, the Buyer or any personal acting for or with Buyer purchases, Leases or otherwise acquires an interest in the property after becoming aware of the availability of the real property or receiving information about the real property during said term. The parties agree that Agent shall first seek compensation, if any, offered by the listing agent or otherwise from the transaction (listing broker/seller). The agreement shall be extended with the consent of both parties.

Consent to Designated Agency A designated agent is a real estate licensee who has been appointed by a broker or salesperson to represent a buyer as a “designated buyer’s agent” or to represent a seller as a “designated seller’s agent.” When a buyer or seller consents to designated agency on that designated agent represents the buyer or seller. Any other agents affiliated with the Agent may represent another party to the transaction and by consenting to designated agent the buyer or seller permits those agents to represent another party. Individuals who are designated agents owe fiduciary duties to their respective clients. You are further advised that: (a) the designated buyer’s agent will represent the buyer for the duties of loyalty, full disclosure, confidentiality, to account for funds, reasonable care and obedience to lawful instruction (b) all other licensees affiliated with the appointing Agent will not represent the Buyer nor will they owe the other duties specified in paragraph (a) to that Buyer and may potentially represent the seller and if designated affiliated with the same broker represent the seller and buyer in the same transaction, the appointment broker shall be a dual agent and neutral as to any conflicting interests of the buyer and seller, but will continue to owe the seller and buyer the duties of confidentiality of material information and to account for funds. By signing the agreement, the Buyer consents to designated agency. If designated agency occurs in a transaction, a notice of designated ageny will be given. The designated agent for the buyer is

7. Disclosure of Identity/Other Brokers/Other Potential Buyers. The Agent is authorized to disclose the Buyer’s identity. Agent is authorized to cooperate and pay compensation to other agents in connection with the performance of the agent’s services. Buyer understands that the Agent may represent other buyers interested in purchasing the same or a similar property. The Buyer consents to such representation.

8. Entire Ageement/Governing Law. This agreement is the entire agreement between the parties. It is binding upon the parties’ heirs, successors and personal representatives. Assignment shall not limit the rights of the agent. This agreement shall be governed by the Laws of the Commonwealth of Massachusetts. Unless otherwise stated, this Agreement may not be modified, except in writing signed by both the Buyer and the Agent.

This document creates binding legal obligations. For legal advice, consult an attorney

Buyers__________________________________________________________________________

Agent___________________________________________________________________________