Thursday, April 18, 2024
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    [vc_cta_button call_text=”Buyers Representation Agreement Fill out the form below and we will get right to work for you! We promise to dedicate all our resources to finding you exactly what you want. We know this is a pain but it allows us to allocate our time property. We spend the majority of our time on our committed buyers. They also get access to everything we have! Thanks in advance. We look forward to working with you.” target=”_self” color=”wpb_button” icon=”none” size=”wpb_regularsize” position=”cta_align_right”]
    • THIS IS A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK LEGAL ADVICE

    • Personal Information

    • The name provided in this section will hereinafter be referred to as BUYER.

    • Agreement Terms

    • Agreement Dates: This agreement shall be in effect for one calendar year from the date of form submission. If Buyer enters into a purchase agreement during the term of this agreement, the termination of this agreement shall be the date of closing under said purchase agreement as to the purchased property only. This Buyer Agency Agreement can be terminated with mutual written consent of the parties.

    • Exclusive Buyers Agency Terms

    • The purpose of the agreement is to enlist the services of Illinois Land Company Real Estate (203 Eastgate Dr Washington, IL 61571) to exclusively represent the buyer in the search and acquisition of a property.

      1) Existing Agreements. Buyer represents to Broker that Buyer has employed no other broker to assist in acquiring an interest in the property that is within the scope of this Agency Agreement and agrees to protect, defend, indemnify and hold Broker harmless from the claims, liability, and expenses, including reasonable attorney’s fees, arising by reason of the claim of any other broker in compensation as the result of a transaction that is within the scope of this Agreement.

      2. Creation of Agency. By authorizing Broker as Buyer’s exclusive agent, Buyer agrees to conduct negotiations for any recreational or agricultural, defined under this agreement as anything over 5 acres, through Broker, and to refer to Broker all inquiries received in any form from real estate brokers, broker associates, prospective sellers, or any other source, during the time this Agency Agreement is in effect.

      3. Broker’s Representation and Services. Broker will use Broker’s reasonable efforts as Buyer’s agent to locate property, and to negotiate acceptance of any offer to purchase of said property. Broker shall make submissions to Buyer describing and identifying properties appearing to Broker substantially to meet the criteria set forth by the Buyer, for the consideration of Buyer.
    • Buyer understands that if Broker is compensated by a seller or a real estate licensee who is working with a seller, such compensation does not compromise Broker’s duty to Buyer.

      4. Compensation of Broker. In consideration of the services to be performed by Broker, Buyer agrees to compensate Broker in any of the following ways:

      a) If the property is subject to a listing agreement through a Multiple Listing Service or otherwise publicly marketed, the fee will be the amount equal to the co-operating Broker’s payout, not to be less than 3% of the total sales price.

      b) If the property is not subject to a Listing Agreement, Buyer agrees to pay Broker as follows:

      For Sale by Owner: 6% of total purchase price.

      Land Auction: 5% of total purchase price.

      Broker shall first seek to obtain this fee from the seller. If the fee cannot be obtained through the seller, Buyer will be responsible for such fee stated above.

      This compensation shall apply to transactions made, for which Buyer enters into a contract during the original term of this Agency Agreement, or during any extension of such original or extended term, and shall also apply to transactions for which Buyer enters into a contract within 180 days after the end of this Agreement which Broker has shown to Buyer during the term of this Agreement. If Buyer enters into an Exclusive Agreement with another broker after expiration or mutual written termination of this agreement, this agreement shall be null and void in its entirety.

      5. Other Potential Buyers. Buyer understands that other potential buyers may consider, make offers on, or purchase, through Broker, the same or similar properties as Buyer is seeking to acquire. Buyer consents to Broker’s representation of such other potential buyers before, during, and after the expiration of this Agency Agreement.

      6. Agency Disclosure. Broker will represent Buyer as outlined in this Agency Agreement when showing Buyer another firm’s listings. Broker will act, with Buyer’s consent, as outlined in this agreement when showing Broker’s listings to Buyer.

      7. Nondiscrimination. Buyer and Broker will not participate in any act that unlawfully discriminates on the basis of race, color, creed, religion, sex, disability, familial status, country of national origin or any other category protected under federal, state or local law.

      8. Modification. No modification of any of the terms of this Agency Agreement shall be valid or binding upon the parties, unless such modifications have first been reduced to writing and signed by both parties.

      9. Other Professional Services. Buyer acknowledges that Broker is retained solely as a real estate agent and not as an attorney, tax advisor, lender, appraiser, surveyor, structural engineer, home inspector, or other professional service advisor. Buyer acknowledges that Broker and Broker’s agents owe no duty to independently verify the accuracy or completeness of any statement made by any source reasonably believed by the Broker and Broker’s agents to be reliable. Buyer has been advised to seek professional advice concerning the condition of the property, legal and tax matters.

      10. Entire Agreement. This Agency Agreement constitutes the entire agreement between the parties relating to the subject hereof, and any prior agreement pertaining thereto, whether oral or written, are merged and integrated into this Agency Agreement.

      11. Conflict of Interest. Buyer understands that the broker may show the buyer properties listed by Illinois Land Company and will act in accordance with Illinois Real Estate Law and treat all clients fairly and honestly.

      12. Facsimile or Electronic Signatures. This agreement may be executed by Facsimile or Electronic Signatures.

      By signing below, you agree to the terms and conditions of this agreement