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Buyer's Agency

The Residential Group
103 Roxie Avenue
Fayetteville, NC, 28304
Phone: 910-483-2244, Fax: 910-438-0882

EXCLUSIVE RIGHT TO REPRESENT BUYER
Buyer Agency Agreement

[Consult "Guidelines" (Form 201G) for guidance in completing this form]

* STATE OF NORTH CAROLINA, County of

* , Date ,

* ("Buyer")

("Buyer")

hereby employs The Residential Group [Firm Name]
("Firm") as the Buyer's exclusive agent to assist the Buyer in the acquisition of real property which may include any purchase, option and/or exchange on terms and conditions acceptable to Buyer. The individual agent who signs this Agreement on behalf of the Firm shall, on behalf of the Firm, be primarily responsible for ensuring that the Firm's duties hereunder are fulfilled; however, it is understood and agreed that other agents of the Firm may be assigned to fulfill such duties if deemed appropriate by the Firm. For purposes of this Agreement, the term "Firm," as the context may require, shall be deemed to include the individual agent who signs this Agreement and any other agents of the Firm.

Buyer represents that, as of the commencement date of this Agreement, the Buyer is not a party to a buyer representation agreement with any other real estate firm. Buyer has received a copy of the "Working with Real Estate Agents" brochure and has reviewed it with Firm. Buyer further represents that Buyer has disclosed to Firm information about any properties of the type described in paragraph 1 below that Buyer has visited at any open houses or that Buyer has been shown by any other real estate firm.

* 1. TYPE OF PROPERTY:

Residential (improved and unimproved)

Commercial (improved and unimproved)

Other

* (a) General Location:

(b) Other:

2. DURATION OF AGENCY: Firm's authority as Buyer's exclusive agent shall begin,

, and subject to paragraph 4, shall expire at midnight,

3. EFFECT OF AGREEMENT: Buyer intends to acquire real property of the type described in paragraph 1. By employing Firm as Buyer's exclusive agent, Buyer agrees to conduct all negotiations for such property through Firm, and to refer to Firm all inquiries received in any form from other real estate firms, prospective sellers or any other source, during the time this Agreement is in effect.

, or when Buyer acquires real property of the type described in paragraph 1, whichever occurs sooner.

4. COMPENSATION OF FIRM:

(a) Firm acknowledges receipt of a non-refundable retainer fee in the amount of

which

shall

shall not

be credited toward any compensation due Firm under this Agreement.

(b) Except as otherwise provided below, Firm shall seek compensation from a cooperating listing firm (through the listing firm's offer of compensation in MLS or otherwise) or from the seller if there is no listing firm, and Buyer agrees that Firm shall be entitled to receive same in consideration for Firm's services hereunder. If Buyer purchases property where no compensation is offered by either the listing firm or the seller, then Buyer agrees to pay Firm a fee of

(insert dollar amount, percentage of purchase price, or other method of determining Firm's compensation for each type of property the Buyer may purchase.) If the compensation offered by the listing firm or seller is less than the compensation inserted above, Buyer agrees to pay Firm the difference. If additional compensation and/or a selling incentive (bonus, trip, money, etc.) is offered through the MLS or otherwise, Buyer will permit the Firm to receive it in addition to the compensation set forth above.

(c) The compensation shall be deemed earned under any of the following circumstances:
i. If, during the term of this Agreement, Buyer, any assignee of Buyer or any person/legal entity acting on behalf of Buyer directly or indirectly enters into an agreement to purchase, option, and/or exchange any property of the type described above regardless

* Buyer initials

Buyer initials

PREPARED BY: SHERRIL WATKINS, BROKER/OWNER

STANDARD FORM 201 Revised 7/2007 © 7/2007. North Carolina Association of REALTORS®, Inc.
RealFA$T® Software, ©2008, Version 6.16. Software Registered to: Office Manager, The Residential Group

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