Buyer-Broker Compensation Contract
The Exclusive Authorization to Acquire Property
CAR Form AAP-11 — The Professional Real Estate Agent’s Way of Working with Buyers
Troop Real Estate, in an ongoing program to foster respect for the needs of our clients and better serve our agents in their professional endeavors, is encouraging the use of the Buyer-Broker Contract. It is simply a contract between the two parties that clearly defines the obligations of both.
The purchase of a home can be a maze of complexities. The use of a Buyer-Broker agreement simplifies this process by defining the rights and duties of both the buyer and the agent representing them.
As an added benefit to both, the use of the Buyer-Broker agreement allows agents the opportunity to be compensated for working diligently in the pursuit of just the right property for their clients. Although the best source of available properties is the local Multiple Listing Service (MLS) there exist other sources of properties. Auctions, new construction, bank owned (REOs), for sale by owners (FSBO), office exclusives and government foreclosed on properties (HUD) are a few examples.
Agents, through diligent investigation, gain knowledge of these properties and should be compensated for such efforts. Limiting their search solely to properties listed in the MLS does not benefit their client to the degree that a wider search may.
Buyers can also assist in the process by doing research and investigations of their own, advising their professional CENTURY 21 ® Troop Real Estate agent of their specific needs and requirements.
Working together towards a common goal facilitates the process of purchasing a new home.
We encourage all CENTURY 21 ® Troop Real Estate agents to have Buyer-Broker Contract executed. The rights and obligations of both the client and the agent are thereby boldly defined. Buying a home is a positive experience made more pleasant by an understanding of the duties of all involved.