ࡱ > < > ; M& bjbj 44 ' % ( ( k k k k k 8 $ 8 " { } } } } } } j } k } k k k k { { izL W g 0 Q ` k s } } . ( 1 : Hannaian International Realty
BUYER REPRESENTATION AGREEMENT
(Exclusive)
The undersigned _______________________________________________________________________________ (CLIENT) hereby employs the company ______________________________________________________________________________ (BROKER) as Clients exclusive agent to locate property(ies) for Clients purchase, lease, exchange or option (collectively purchase) during the term of this agreement, and to advocate the Clients interests in the negotiations of terms and conditions of any such purchase. This agreement begins on this date and terminates at midnight of __________________, 19__________, or at closing of any purchase under this agreement, if such occurs earlier.
Client agrees that this agreement is for an exclusive representation and that client will not employ any other Broker or realty salesperson during the term of this agreement. If Client does employ other representation in contravention of the terms of this agreement, Client shall be liable to Broker for liquidated damages in the amount of any commission which would normally have been due Broker in addition to any applicable costs of collection made necessary by this action including reasonable attorneys fees and court costs.
TYPE OF PROPERTY SOUGHT BY CLIENT
GENERAL DESCRIPTION: ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
SIZE: ________________________________________________________________________________
LOCATION: ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
PRICE RANGE & TERMS: ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
BROKER AGREES:
(1) to use all diligence in locating property(ies) which meets Clients requirements and approval;
(2) to act on behalf of Client in any negotiations for the purchase of property(ies) acceptable to Client;
(3) to use professional knowledge and skills in assisting the Client throughout the transaction; and
(4) to exercise all duties to the Buyer as set forth in the initial agency disclosure, including the duties common to
all consumers as well as those duties reserved for agent-client relationships.
CLIENT AGREES:
(1) to furnish Broker on a timely basis with any necessary personal and/or financial information to assist Broker in locating the desired property(ies) and to ensure Clients ability to purchase;
(2) to authorize Broker to negotiate for a fee paid by the Seller and/or the Sellers agent, the payment of which will be fully disclosed to Client. If a fee is not offered or paid to Broker, as could occur, for example, in the purchase
of an unlisted property, Client agrees to pay Broker ___________________________ ________________________________________________________________________________
Brokers fee is earned at the signing by both parties of any agreement to purchase property(ies) as described above through the efforts of Broker and is due at the closing of any such transaction. In the event that Buyer defaults on performance of a valid contract for sale or lease, Brokers fee will be due on the date of default.
NOTICE: The payment of any fee by Seller will not make Broker either the Agent or Subagent of the Seller. If both Buyer or Seller agree to utilize Broker as their representative Broker this document will serve as notice of full disclosure to the client that of any conflicts of interest and necessary disclosures have been complied with unless there is a written request for further notice and disclosure of such dual agency made by client prior to the time of execution of any agreement for sale of property, or offer for the sale of property.
PROPERTIES SPECIFICALLY EXEMPTED FROM THIS AGREEMENT: ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Information Which The Buyer Authorizes Broker to Disclose Which Might Otherwise Be Confidential:
OTHER TERMS/CONDITIONS: ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
CLIENT AUTHORIZATION FOR CHANGES IN AGENCY STATUS:
In the event a change in Brokers agency status is needed or necessary to protect Clients interests in a transaction (BUYER SHOULD INITIAL HIS/HER AGREEMENT WITH EACH PROVISION BELOW):
_____
Client hereby authorizes managing broker to appoint ___________________________________________________ as Designated Agent for the Buyer, to the exclusion of any other Licensees associated with Broker. A Designated Agent for the Buyer can and will continue to advocate Buyers interests in a transaction even if a Designated Agent for the Seller (other than the Licensee below) is also associated with Broker.
_____
Client hereby authorizes the managing broker, if necessary, to appoint a Licensee, other than the Licensee named below, as Designated Agent for the Buyer, to the exclusion of any other Licensees associated with Broker.
_____
Client hereby authorizes Broker to default to Facilitator status (representing the interests of neither Buyer nor the Seller) in any property showing, negotiations, or transaction, in which the Broker may also have a
representation agreement with the Seller. As a Facilitator, Broker and Brokers associated salespersons can assist the parties and provide information (but not advice) in subsequent negotiations in that transaction.
If a change in agency status occurs, Client will be immediately notified of such a change.
EXPERT ASSISTANCE: While Broker has considerable general knowledge of the real estate industry and real estate practices, Broker is not expert in matters of law, taxation, financing, surveying, structural conditions, hazardous
materials, engineering, etc. Client acknowledges Brokers advice to seek professional assistance and advice as needed in these and other areas of professional expertise. If Broker provides names or sources for such advice
or assistance, Broker does not warrant or guarantee the services and/or products obtained by Client.
NOTICE: Real Estate commission is fixed by the Bahamas Real Estate Association and paid bythe SELLER. unless agreed upon by SELLER AND BUYER.
AGREED AND WITNESSED ON ______________________ , 20________ , BY:
CLIENT: ______________________________________________
BROKER: _____________________________________________
CLIENT: ______________________________________________
BY: ____________________________________________________
(Broker or Brokers Associated Salesperson)
PRINT/TYPE NAMES:
PRINT/TYPE NAME:
Bus. Phone: ______________ Res. Phone: _____________ Bus. Phone: ______________ Res. Phone: _______________
PAGE
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