This form replaces the Exclusive Buyer Representation Agreement (BRE), the Non-Exclusive Buyer Representation Agreement (BRNE), and the NonExclusive, Not-for-Compensation Buyer Representation Agreement (BRNN). The new form does NOT have a not for compensation option.
Paragraph 1: Unlike the listing agreement which ends on a date certain, the buyer representation period lasts for the number of days specified. Paragraph 4B(1): The form defaults to non-exclusive representation, meaning that the broker is only entitled to be paid if the buyer purchases a property for which there was “Broker Involvement.” Paragraph 4B(2): This optional paragraph creates an exclusive representation, meaning that the broker is entitled to be paid if the buyer purchases a property during the representation period, with or without the broker’s help. Paragraph 4C: This paragraph allows either buyer or Broker to cancel the agreement. Paragraph 4D(1): This paragraph retains the language from the previous buyer representation contracts that credits against the buyer’s compensation obligation any payment that the buyer’s broker receives from the
seller’s broker or seller. Paragraph 4D(3): This paragraph authorizes the broker to include a term in the offer asking the seller to pay the
buyer’s broker (see RPA paragraph 3G(3). Paragraph 4F: This paragraph obligates the buyer’s broker to disclose to the buyer the compensation the
broker expects to obtain from others on any particular property, and to also disclose to the buyer the final compensation the broker actually receives.
Revised December 2022