3 Day Buyer's Representation Agreement
Valid for 3 days.
TO ALL HOME BUYERS: Starting August 17, 2024 a Realtor® CANNOT show you a home listed by another brokerage unless you have a signed agreement with them. This is the legal settlement between the DOJ (US Department of Justice) and the National Association of Realtors. Usually it’s not a problem and we can zip over, show it to you and be done, however no Realtor® will be able to unlock a door for you without you first signing an agreement. This will be non-negotiable for any person that is a Realtor® per the legal settlement with the DOJ. The usual form between a buyer and a Realtor® is a Buyers Representation Agreement. That agreement is basically your contract between you and that Realtor® you hire saying you will be using them to buy a home and breaking down the roles, duties and responsibilities owed to you by your agent. This is not something we want to do, but are being required to do. Picking the agent you want to use to help you buy a home is an important decision and not one that should be forced upon you just to see a home. The good news is that we get to decide when it expires, so although you may have to sign one, if you’re not ready yet to fully commit to a Realtor®, you can always request an agreement that expires in a day, a week, a month, etc. That is why this Temporary Buyer's Representation Agreement is only valid for 3 days. Lastly, please don’t yell at your local Realtors® if they want you to sign something before showing you a home. We don’t have a choice.
Helping Home Ownership...
Let us do all the Heavy Lifting to find you that perfect home!
3 Day Buyer's Representation Agreement
We promise to not waste your valuable time.
If you are having issues or concerns on this agreement please reach out to us. We are happy to go over the concerns and content of this agreement.
This Agreement is made between the Buyer/s below
Buyer/s Details
and RedKorr Realty, LLC, Texas License #9013020.
P.O. Box 310400, New Braunfels, TX 78130.
Phone Number: 210-888-2626
Company Email: [email protected]
Client appoints Broker as Client's real estate agent subject to the terms of this 3 Day Agreement. In this agreement to purchase real property the "Market Area" the client will receive brokerage services in the State of Texas will be specified as follows.
Term of this Agreement:
This Agreement with redKorr Realty, LLC, is for a period of 3 days. The Start Date of this agreement begins on the date the client enters in the Date this Agreement Starts and will go on for 3 days from that date.
Broker Obligations: Broker must comply with the duties as required by law. Broker may represent other prospective buyers or tenants who may seek to acquire the same properties as Client. Broker will use Broker's best efforts to assist client in the acquisition of property in the market area.
Client Obligation: Client must work exclusively through Broker in acquiring property in the market area and inform other brokers, sales agents, sellers and landlords that the Broker exclusively represents Client for the purpose of acquiring property in the market area and refer all such persons to Broker.
Broker Compensation/Fee: Broker will collect no fees from the Client during the time frame of this 3 day agreement unless a written amendment is done to this agreement. If Broker and Client mutually agree to continue Brokerage Services, Broker and Client will open and negotiate a new agreement after the expiration of this agreement that may or will include negotiated fees and services.
Broker Compensation is not set by law nor fixed, controlled, or recommended by the Association of REALTORS® or MLS. Broker compensation is fully negotiable. Broker is prohibited from receiving compensation for brokerage services from any source that exceeds the amounts stated in this Agreement. This is a legally binding agreement. READ IT CAREFULLY. If you do not understand the effect of this Agreement, consult your attorney BEFORE signing. The parties authorize the use of electronic acceptance of this Agreement.
Intermediary: If Client wishes to acquire one of the Broker's listing our company policy is to allow intermediary by broker appointment. Client authorizes Broker to act as an intermediary and Broker will notify Client that Broker will service the parties in accordance intermediary by broker appointment. If client does not want brokerage services by intermediary then client cannot accept this Agreement and will stay a customer and the proper agency disclosures will be provided to the Buyer.
Competing Clients: Client acknowledges that Broker may represent other prospective buyers who may seek to acquire properties that may be of interest to Client. Client agrees that Broker may, during the term of this agreement and after it ends, represent such other prospects, show the other prospects the same properties that Broker shows to Client, and act as a real estate broker for such other prospects in negotiating the acquisition of properties that Client may seek to acquire.
CONFIDENTIAL INFORMATION:
During the term of this agreement or after its termination, Broker may not knowingly disclose information obtained in confidence from Client except as authorized by Client or required by law. Broker may not disclose to Client any information obtained in confidence regarding any other person Broker represents or may have represented except as required by law.
Unless otherwise agreed or required by law, a seller or the seller's agent is not obliged to keep the existence of an offer or its terms confidential. If a listing agent receives multiple offers, the listing agent is obliged to treat the competing buyers fairly.
MEDIATION: The parties agree to negotiate in good faith in an effort to resolve any dispute that may arise related to this agreement or any transaction related to or contemplated by this agreement. If the dispute cannot be resolved by negotiation, the parties will submit the dispute to mediation before resorting to arbitration or litigation and will equally share the costs of a mutually acceptable mediator.
DEFAULT: If either party fails to comply with this agreement or makes a false representation in this agreement, the non-complying party is in default. If Client is in default, Broker may terminate this agreement and Client will be liable for the amount of compensation that Broker would have received under this agreement if Client was not in default; Broker may also terminate this agreement and exercise any other remedy at law. If the Broker is in default, Client may exercise any remedy at law.
LIMITATION OF LIABILITY: Neither Broker nor any other broker, or their associates, is responsible or liable for any person's personal injuries or for any loss or damage to any person's property that is not caused by Broker. Client will hold broker, any other broker, and their associates, harmless from any such injuries or losses. Client will indemnify Broker against any claims for injury or damage that Client may cause to others or their property.
Addenda and other documents: : Addenda that are part of this Listing and other documents that Seller may need to provide are:
Information About Brokerage Services
Protect Your Family from Lead in Your Home
Mold Remediation Consumer Protection
Information about Special Flood Hazard Areas
Information Concerning Property Insurance
For Your Protection: Get a Home Inspection
General Information and Notice to Buyers Wire Fraud Warning and Sellers
Other Addendums may be required
Additional Notices:
In accordance with fair housing laws and the National Association of REALTORS® Code of Ethics, Broker's services must be provided without regard to race, color, religion, national origin, sex, disability, familial status, sexual orientation, or gender identity. Local ordinances may provide for additional protected classes (for example, creed, status as a student, marital status, or age).
Broker is not a property inspector, pest inspector, appraiser, surveyor, engineer, environmental assessor, or compliance inspector. Client should seek experts to render such services in any acquisition.
If Client purchases property, Client should have an abstract covering the property examined by an attorney of Client's selection, or Client should be furnished with or obtain a title policy.
Client may purchase a residential service contract. Client should review such service contract or the scope of coverage, exclusions, and limitations. The purchase of a residential service contract is optional. There are several residential service companies operating in Texas.
When viewing a property, Client might be recorded or otherwise monitored without Client's knowledge or consent. Additionally, consult an attorney before recording or photographing a property without Owner's knowledge or consent.
To reduce risk of wire fraud, Client should refrain from transmitting personal information, such as bank account or other financial information, via unsecured email or other electronic communication. If Client receives any request to wire funds, even if the communication appears to come from a legitimate source, Client should verify its authenticity prior to transferring any funds. Verification should be made in person or via phone call using a recognized phone number not found in the communication. Broker will not send Client any electronic communication with instructions to wire funds or to provide personal information.
CONSULT AN ATTORNEY: Broker cannot give legal advice. This is a legally binding agreement. READ IT CAREFULLY. If you do not understand the effect of this agreement, consult your attorney BEFORE signing.
Thank You For Understanding.
These are the new rules and guidelines
that all Realtors must follow.
Thank You For Your Business!
redKorr Realty, LLC
210-888-2664
redKorr Realty, LLC - Texas Lic# 9013020
