Buyer Brokerage Agreement

Buyer Brokerage Agreement ## Overview A buyer brokerage agreement is a written contract between a real estate broker and a buyer that establishes an agency relationship. Under Washington law (RCW 18.86 and SB 5191), this agreement must be signed before the broker shows property to the buyer. ## Purpose The agreement protects both parties by: - Establishing the broker's duties to the buyer - Disclosing how the broker will be compensated - Setting the duration of the relationship - Clarifying the scope of the broker's services ## Types of Buyer Agreements - Exclusive Buyer Agency Agreement: Buyer agrees to work only with this broker for a specified period - Non-Exclusive Agreement: Buyer may work with multiple brokers ## Key Provisions - Start and end dates - Property type and geographic area - Compensation (amount, who pays, and fallback if seller offers less) - Services the broker will provide - Dispute resolution ## Key Terms - Agency: Legal relationship where broker acts on behalf of the buyer - Fiduciary Duty: Highest standard of care owed by broker to client - Exclusive Agreement: Locks buyer to one broker for the contract period