Buyer Agreement Comparison
Since One is Now Required,
We are Committed to Using the One that is Best for You!
Feature | Exclusive Buyer Brokerage Agreement | Property Pre-Touring Agreement | Showing Agreement | Prospective Buyer/Tenant Retainer Agreement |
---|---|---|---|---|
Purpose | Formal agreement for exclusive buyer representation. | Agreement to tour properties with no obligation to purchase. | Agreement to tour and negotiate specific properties. | Agreement to retain broker services for finding a property to buy or lease. |
Broker’s Role | Assist in locating properties, negotiating, and closing transactions. | Help tour mutually agreed properties during a set period. | Assist in touring, negotiating, and closing on specific properties listed in the agreement. | Assist in locating and acquiring suitable real property, either for purchase or lease. |
Your Role | Work exclusively with the broker; cooperate in property search and negotiations. | No obligation to purchase; simply tour properties with the broker. | Work exclusively with the broker for the specific properties listed; cooperate in property search and negotiations. | Engage the broker to assist in property search and acquisition; pay a retainer fee. |
Compensation (Who Pays the Broker) | Broker earns compensation if any property is purchased or leased during the agreement’s time periods. May be reduced or eliminated by funds paid by the seller. | No compensation due at this stage; terms outlined if you proceed with a purchase. | Broker earns compensation if a property listed in the agreement is purchased or leased during the agreement’s time periods. May be reduced or eliminated by funds paid by the seller. | Non-refundable retainer fee due upon signing; broker may earn additional compensation from a Seller or Seller’s agent if a transaction occurs. |
Retainer Fee | Retainer fee may be required; non-refundable. | No retainer fee required. | Retainer fee may be required; non-refundable. | Non-refundable retainer fee required upon signing. |
Fair Housing Compliance | Adheres to Fair Housing laws. | Adheres to Fair Housing laws. | Adheres to Fair Housing laws. | Adheres to Fair Housing laws. |
Term & Termination | Specific start and end date; extends if a transaction is in progress. | Valid for a set number of days; expires after the period ends. | Specific period; automatically extends if a transaction is in progress. | Specific start and end date; expires after the period ends. |
Dispute Resolution | Mediation first, then possible arbitration or legal action. | Not specifically mentioned. | Mediation first, then possible arbitration or legal action. | Not specifically mentioned. |
Legal and Professional Advice | Recommends consulting professionals for specialized advice. | Not specifically mentioned. | Recommends consulting professionals for specialized advice. | Not specifically mentioned. |
Other Notes | Buyer is responsible for informing broker about any property inquiries or interactions with other agents. | If you choose to proceed with purchasing a property, a separate agreement may be required. | Broker may work with other buyers interested in the same properties, but won’t disclose details of your offers. | Retainer fee does not cover any rental information list; compliance with Florida Statutes. |
Exclusive | Pre Touring | Showing Agreement | Prospective Buyer/Tenant |
How to Use This Table:
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