Buyer Representation Agreement

The eRealty Shop

256 Seaboard Lane

Franklin TN 37067

Phone 615-778-1776

Fax 615-771-7713

Buyer Representation Agreement

(Non-exclusive*)

The undersigned _______________________________________________________________ (Client) hereby employs The eRealty Shop  (Broker) as Client’s non-exclusive* agent to locate property(ies) for Client’s purchase, lease, exchange or option (collectively, “purchase”) during the term of this agreement, and to advocate the Client’s interests in the negotiation of terms and conditions of any such purchase. 

The eRealty Shop hereby appoints ________________________________________ 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 Buyer’s interests in a transaction even if a Designated Agent for the Seller (other than the Licensee above) is also associated with the Broker.

* Non-exclusive:   Client understands and agrees that while Designated Agent is working in a non-exclusive manner, upon the Designated Agent's introduction of Client to a suitable property, that Designated Agent shall have the rights and privileges of an “Exclusive Agent” as to those properties, meaning that Client owes Broker the agreed-upon commission if such property is purchased by Client.

Type of Property Sought By Client:

General description: _____________________________________________________________________________

Location: _____________________________________________________________________________________

Price range & terms:          ____________________________________________________________________________

Broker agrees:

1.     to use diligence in locating property(ies) which meet Client’s 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 Client throughout the transaction;

4.     to exercise all duties to the Buyer as set forth under the Tennessee Agency Laws affecting Real Estate Agents.

Client agrees:

1.     to furnish Broker on a timely basis any necessary personal and/or financial information to assist Broker in locating the desired property(ies) and to ensure Client’s ability to purchase;

2.     to authorize Broker to negotiate for a fee which shall be paid through the Seller and which fee will be fully disclosed to Client.  In the event Client desires to purchase a property where 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 ______% of the Sales Price;

3.     to be responsible to remedy any provisions resulting from any other Agency Agreements Client has entered into, and Client further agrees that The eRealty Shop shall not be responsible to remedy any such provisions.

Broker’s fee:

Broker’s fee is earned at the signing by both parties of an agreement to purchase any 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, lease, exchange or option, Broker’s fee will be due on the date of default.  The payment of any fee by Seller will not make Broker either the Agent or the Subagent of the Seller.

Buyer Representation Agreement page 2 of 2

Additional miscellaneous terms and conditions:

Client authorizes Broker to: _______________________________________________________________________

____________________________________________________________________________________________

____________________________________________________________________________________________

____________________________________________________________________________________________

Client authorization for changes in agency status:

In the event a change in Broker’s agency status is necessary to consummate a sales transaction, where such agency status change does not adversely affect the purchaser:

1.     Client hereby authorizes Broker to be deemed a “Facilitator” (having those duties required of a Facilitator per Tennessee State Law), in any property showing, negotiations, or transaction in which the herein named Designated Agent may also have a representation agreement with the Seller.  As a Facilitator, Broker and Broker’s associated salesperson can assist the parties and provide information (but not advice) in subsequent negotiations in the transaction.

2.     If a change in agency status becomes necessary the above provision shall be exercised; Client will be immediately notified of such a change, and agrees to sign the agreement “Confirmation of Agency Status” prior to the preparation or presentation of any offer to purchase.

Expert assistance:

While Broker has considerable 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 Broker’s advice to seek professional assistance and counsel as needed in these and other areas of professional expertise.  If Broker provides names or sources for such assistance or counsel, Client is under no obligation to patronize any such source, and Broker does not warrant or guarantee the services and/or products obtained by Client.

Agreed this __________ day of ________________________, 200_____ by: