Buyer-Broker Exclusive Employment Agreement

04 · What this form is

The written employment agreement that starts a buyer's search

The Buyer-Broker Exclusive Employment Agreement is a written employment agreement between a buyer and a real estate broker. It defines the broker's role in helping the buyer locate and purchase a property, and it records the working relationship before the search begins. Its purpose is to put both sides on the same page about what the engagement includes.

05 · When it commonly arises

At the start of a buyer's working relationship

This agreement commonly arises when a buyer starts working with a buyer's agent on a residential purchase. It is signed at the start of the relationship, before offers are made, so the scope of the search and the terms of the engagement are clear up front.

06 · General subjects it covers

The scope, term, and duties of the engagement

At a high level, the agreement addresses the parties to the agreement, the general property criteria and geographic scope of the buyer's search, the term of the agreement, how compensation is arranged, and the duties and obligations of each side. The specific provisions are set in the document itself, and the details can vary from one agreement to the next.

07 · Questions to discuss with Andrew

The points worth understanding before you sign

• How buyer-broker compensation works in the current market, including who arranges it and how it is set out.

• What services the agreement covers, so you know what the engagement includes before the search begins.

• What the term of the agreement and any exclusivity mean for your search, including how long it lasts.

08 · Next steps

Review, clarify, and confirm the scope

• Review the actual document carefully with Andrew before signing.

• Clarify how compensation is arranged so there are no surprises later.

• Confirm that the geographic and property scope fits your search before you commit.