Free Broker Representation Agreement Template
Broker Representation Agreement
1. Introduction
This Broker Representation Agreement ("Agreement") is entered into by and between the following parties:
-
Lowell Quizon, having a principal place of business at Richmond, VA 23218 ("Broker"), and
-
[Your Name], residing at Richmond, VA 23218 ("Client").
This Agreement is effective as of December 13, 2054.
2. Purpose
The purpose of this Agreement is to formalize the relationship between the Broker and the Client whereby the Broker agrees to provide representation services in connection with the purchase and/or sale of real estate properties on behalf of the Client.
3. Broker's Duties
The Broker agrees to represent the Client in the capacity of a real estate broker with reasonable skill and care, while promoting the interests of the Client with utmost loyalty, fidelity, and integrity. The Broker shall:
-
Identify and present properties that meet the Client's criteria.
-
Negotiate on behalf of the Client to obtain the best possible terms.
-
Assist the Client through the closing process associated with any real estate transactions.
-
Maintain confidentiality of all sensitive information regarding the Client.
4. Client's Duties
The Client agrees to cooperate with the Broker and promptly provide all relevant information necessary for the Broker to perform its duties. The Client further agrees to communicate exclusively with the Broker regarding the purchase or sale of any real estate properties to avoid conflicts of interest and ensure efficient representation.
5. Compensation
As compensation for services rendered under this Agreement, the Broker shall be entitled to a commission of 5% of the gross sale or purchase price of the real estate transaction, payable at closing.
6. Term
This Agreement shall commence on the effective date and continue in effect until June 13, 2055, unless terminated earlier by either party with written notice of at least 30 days.
7. Termination
Either party may terminate this Agreement at any time upon giving 30 days written notice to the other party. Upon termination, the Client shall remain liable for any fees or expenses incurred prior to the termination date.
8. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Virginia, without regard to its conflict of law principles.
9. Entire Agreement
This Agreement constitutes the entire understanding between the parties with respect to the subject matter hereof and supersedes all prior negotiations, representations, or agreements, whether written or oral, regarding such subject matter.
10. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the dates indicated below.
BROKER: Lowell Quizon
Date: December 13, 2054
CLIENT: [Your Name]
Date: December 13, 2054
