DMS Properties, LLC ... Residential Real Estate Services

Red Bar

Sell Your Home Hmes for Rent  Homes for Sale  Property Managemet  Contact Us

The Exclusive Buyer/Tenant Representation Agreement ...
How We Can Work For YOU!!

At DMS Properties, LLC ... Residential Real Estate Services, we use an Exclusive Buyer/Tenant Representation Agreement any time we show properties to a potential tenant or home buyer.  This is mandatory before we will start the process of actually showing homes ... we will gladly send listing information about homes that meet a potential clients' qualifications.

When you begin the search for a property (whether you are looking to buy or rent) and don't have the signed buyer representation agreement, our agents are an representative of the seller (owner) of the property and can only discuss certain things about the property with you.  The "Agency" relationships between buyers and real estate agents and the sellers of properties in Maryland is very complicated and best explained in the "Understanding Who Real Estate Agents Represent" dislosure form.  This disclosure is only required now for "unrepresented parties" who are being shown homes.  Because we will not show homes to "unrepresented parties" this disclosure isn't necessary  When we are showing our own listings, though, a "Consent for Dual Agency" disclosure is needed that acknowledges that DMS Properties, LLC ... Residential Real Estate Services is actually representing both parties in the potential transaction 

Until such time as we have the signed Agreement, we will treat you as a Customer, and there are limits to what we can do for you and what we can tell you about any properties ... but we cannot visit any properties with you.  Specifically, we cannot provide you with detailed information provided by the sellers of individual properties.  The best way for us to handle this is to go over the agreements, along with the agency disclosures at our first meeting prior to going out to look at properties.  Remember that if someone has their property listed in the MLS for sale through a Realtor, they have an agent representing their interests ... Shouldn't You?

You can download and print the Exclusive Buyer/Tenant Representation Agreement and send it to us so that we can begin to schedule appointments for you to see properties.  You can also review the language of the agreement below:

Red Bar

EXCLUSIVE BUYER/TENANT REPRESENTATION AGREEMENT

1.  BUYER INFORMATION:   You will complete this information and provide us with your full name(s) address, phone numbers and e-mail addresses.

2.  BROKER INFORMATION:  This is the information about DMS Properties, LLC ... Residential Real Estate Services and the agent with whom you will be working to find a property.  It will include the company address, phone numbers and e-mail addresses.

2.  BROKER INFORMATION:  ("Broker") is hereby authorized by the undersigned Buyers(s) or by the authorized representative of Buyers(s) ("Buyer") to represent Buyer as the exclusive real estate broker in the acuisition of real property, which shall include cooperatives.  As used in this Agreement, "acquisition of real property" shall include any purchase or lease of property.  The term "Seller" shall include lessor.  The term "Buyer" shall include lesee.  The Buyer seeks the following type of property:  ________________________________________________________________________________________________________.

4.  BUYER AGENCY TERM/RIGHTS OF PARTIES FOLLOWING EXPIRATION OR TERMINATION OF AGREEMENT:  This agreement shall be effective on ________________ (mm/dd/yyyy) and shall continue until midnight on _______________ (mm/dd/yyyy), "the "Term") unless terminated in accordance with theprovisions of this section.

As required under Section 17-534(b)(5) of the Maryland Real Estate Brokers Act, the parties agree to the following provision for the termination of this agreement (Broker to insert terms of termination):  _______________________________________________________________________________________________________________________________.

An expiration or termination of this Agreement by Buyer or Broker shall be subject to the provisions of Paragraph 7 of this Agreement, and Paragraph 7 of this Agreement shall survive the expiration or termination of this Agreement.  Notwithstanding the rights of the parties to terminate this Agreement as provided herein, Broker, in Broker's sole and absolute discretion, may terminate this Agreement at any time and effective immediately in the event Buyer provides any false information or misrepresents any fact to Broker or other third-party.  If a Contract of Sale is entered into by Buyer during the Buyer Agency Term, which provides for settlement to occur after the expiration of the Buyer Agency Term, this Agreement shall be automatically extended until settlement, as provided for in the Contract Sale, has occurred, including any extension of the settlement by mutual written agreement between Seller and Buyer.

5.  BUYER RESPONSIBILITIES AND NOTICE REGARDING "COMING SOON" LISTINGS:

A.  Exclusive Relationship with Broker:  Buyer will work exclusively with Broker during the term of this relationship.

B.  Financial Information:  Buyer will furnish Broker with necessary financial and personal information to reasonably establish Buyer's ability to purchase or lease property.

C.  Signs or Advertisements for Property:  If Buyer sees any signs or advertisements for properties being offered for sale or lease, Buyer will not contact the Seller or agent of the Seller but will first contact Broker named herein, who will provide information about the properties and then make arrangements to see them.

D.  New Home Buyers and Open Houses:  In order to avoid ethe possibility of confusion over the agency relationship and misundersandings about liability for compensation, Buyer agrees not to make a first visit to any new home builder's model or contact any other agents representing sellers of new homes without being accompanied by Broker.  Buyer agrees not to enter "Open House" properties unless accompanied by Broker or after having had Broker make arrangements with the listing broker.

E.  Notice Regarding "Coming Soon" Status in the MLS:  The "Coming Soon" listing status is an option for properties listed in the MLS that are not available but will be soon.  MLS subscribers may view listings under this status.  However, properties listed under the "Coming Soon" status may not be shown and are not syndicated to public real estate websites.  The "Coming Soon" status is automatically updated to "active" on the expected on-market date if not made "active" sooner.

6.  BROKER RESPONSIBILITIES:  The Agent and Broker agree to:

A.  Locate Real Property:  Use provessional knowledge and skills to lcoate and present real property, which is available for purchase or lease and suitable for the Buyer's needs.

B.  Assist the Buyer:  Assist Buyer through the process of property acquisition.

C.  Represent Buyer's Interests:  Reresent the interests of the Buyer in all negotiations and transactions regarding the acquisition of real property.

7:  BROKER'S COMPENSATION:  The amount of Broker compensation is not prescribed by law or established by any membership organization with which Broker is affiliated.

A.  Compensation to be Paid by Buyer:  In the event of a sale or lease, the Compensation to be paid by Buyer to Broker shall be:  __________________________________________________________________.

The Compensation shall be deemed to have been earned by Broker and shall be due and payable to Broker if:

  1. During the term of this Agreement or any extension thereof (i) Buyer or any person or entity acting on Buyer's behalf executes a written agreement to purchase or lease any Property, through the efforts of anyone including Buyer, in which event Buyer, within seventy-two (72) hours thereof, shall furnish Broker a copy of such written agreement; or (ii) if during the period of ________________ days following the expiration or termination of this Agreement, Buyer executes a lease or written agreement to purchase any Property that Buyer inspected, made inquiry about, or negotiated to purchase or lease during the term of this Agreement or any extension thereof, in which event Buyer, within seventy-two (72) hours thereof, shall furnish Broker a coy of such written agreement;

  2. Buyer defaults or voluntarily agrees to terminate a sale or lease; or

  3. Buyer breaches this Agreement 

In the event a lease is executed, the Compensation due Broker shall be paid as follows:  _______________________________________________________________________________________________.

In the event of a sale, the Compensation due Broker shall be paid at settlement as a convenience to Buyer.  Buyer acknowledges and agrees that settlement on the Property shall not be a condition precedent to Buyer's Obligation to Broker as herein provided.  If Broker prevails in any action brought to obtain payment of the Compensation, Broker shall also be entitled to recover in such action Broker's reasonable attorney's fees and court costs.  Buyer shall have no obligation to pay the Compensation to Broker if Buyer enters into a Buyer Agency Agreement with any other licensed real estate broker following the expiration of this Agreement, or any extension thereof, or following the termination of this Agreement as herein provided, unless such termination by Buyer shall have been made for the purposes of avoiding the obligation of Buyer to pay the Compensation to Broker.

B.  Fee Paid By Seller:  Broker is authorized to receive compensation from the listing broker/seller.  Compensation may be offered from the listing broker to Broker through the multiple listing service or from seller as negotiated by Broker and seller for real property which is not listed with another broker.  The amount of compensation received by Broker from a listing broker or from a seller shall be credited against the Compensation agreed upon in Paragraph 7.A.  Buyer shall be obligated to pay any difference between the amount owed and the amount paid by the listing broker/seller.  In the event the amount of compensation offered by the listing broker/seller is greater than that specified in Paragraph 7.A., Buyer authorizes Broker to receive such compensation and to retain any such additional compensation without pro ration or rebate to Buyer.  The amount of any such payment made by listing broker/seller shall be with the seller's and Buyer's prior knowledge and consent and shall in no way affect the obligation of the Broker to act on behalf of the Buyer in the transaction.

8.  DISCLAIMER AND LIMITATIONS:

A.  Limitations of Broker's Ability:  Buyer acknowledges that Broker is being retained solely as a real estate agent and not as an attorney, tax advisor, lender, appraiser, surveyor, structural engineer, certified home inspector or other professional service provider.  Buyer has been advised to seek professional advise for legal, tax and other matters.

B.  Representation of Other Buyers:  Buyer acknowledges that Broker may reprsent other Buyers and that other potential Buyers may consider, make offers on, lease or purchase properties thogugh Broker.  Buyer consents to Broker's representation of othe rBuyers before, during, and after the expiration of this Agreement.

C.  Subsequent Offers:  Upon entering into a Contract of Sale or Lease pursuant to this Buyer Agency Agreement, Broker shall have no further obligation hereunder to procure any subsequent properties for Buyer.

D.  Ministerial Acts:  Buyer hereby consents to and authorizes Broker and Broker's agents to provide ministerial acts as defined by law on behalf of Buyer to third persons in connection with the purchase or lease of the Property.

E.  Confidentiality of Offers:  Buyer acknowledges the possibility that sellers or seller's representatives may not treat the existence, terms or conditions of the Buyer's offer as confidential information.

9.  INTRA-COMPANY AGENT REPRESENTATION:  When the Buyer and seller are each represneted by sales associates of the Broker, th eBroker is a dual agent.  Dual agency is permitted only when disclosed and with the knowledge and written consent of both parties.  However, the sales associate assigned by the Broker as an intra-company agent may continue to provide the same services that a buyer's agent can provide on a property listed with another broker.

In the event Buyer elects to consent to dual agency, buyer agrees to sign the required Consent for Dual Agency form as published by the Maryland Real Estate Commission.  In the event Buyer elects not to consent to dual agency, Buyer acknowledges and agrees that Buyer will not be advised or shown properties listed by Broker and will only be shown properties listed by other real estate brokers.

10:  FLOOD INSURANCE NOTICE:

A.  Flood Insurance Premiums:  The Propety or part of the Property may be located in an area established by the government as a "flood plain" or otherwise in an area where flood insurance could be required.  In addition, construction on the Property could be prohibited or restricted.

The National Flood Insurance Program ("NFIP") provides for the availability of flood insurance but also establishes flood insurance policy premiums based on the risk of flooding in the area where properties are located.  Due to amendments to federal law governing the NFIP those premiums are increasing, and in some cses will rise by a substantial amount over the premiums previously charged for flood insurance.  As a result, premiums paid for flood insurance on the Property may not be indicative of premiums that will appoy after the Property is purchased.  Detailed information regarding flood insurance and any available information about how those premiums may increase in the future may be obtained at:  https://www.fema.gov/national-flood-insrance-program.

B.  Flood Insurance Rate Maps:  The State of Maryland in conjunction with the Federal Emergency Management Agency has been systematically updating flood insurance rate maps.  The Property may be affected.  Buyer is advised t contact the Maryland Department of the Environment and consult a flood insurance carrier to inquire about the status of the Property.  Detailed information regarding updated maps may be obtained at http://www.mdfloodmaps.net/home.html.

11.  REPAIRS OF PROPERTY:  Buyer is hereby notified that repairs of the Property may require that the individuals engaged to perform such repairs must be duly licensed.

12.  LEGAL CONSTRUCTION:  This Agreement is binding upon the parties hereto, and their personal representatives, successors, heirs and assigns.  If this Agreement is signed by more than one person, it shall constitute the joint and several obligations of each.  This Agreement contains the entire Agreement of the parties and cannot be changed except by the written agreement of the parties hereto.  Buyer warrants that there are no other existing agreements or conditions other than as set forth herein.  This is a legally binding Agreement; if not understaood, seek competent legal, tax or other professional advise.  Buyer has not relied upon any statement or representation of Broker except as set forth in this Agreement.  This Agreement shall be interpreted and construed in accordance with the laws of the State of Maryland.

 13:  ADDENDA:  The Addenda marked below, which are hereby attached, are made a part of this Agreement:

________________________________________________________________________________________________________________________________________________________________________________________


RECEIPT OF COPY:  Buyer acknowledges receipt of a copy of this Agreement at time of signing hereof.

You will need to sign the agreement and provide your mailing address and telephone numbers.  It would also be helpful to provide an e-mail address because we will be doing quite a bit of communicating through e-mail.

Feel free to Contact Us if you are interested in purchasing property in Maryland, especially in the Counties where we specialize. One of our agents will be happy to discuss the particulars of this agreement and all other aspects of your real estate purchase with you.

 Red Bar
Selling
a Home

Buying
a Home

Property
Management

Renting
a Home

Quick
Links

Our Guide to
Selling a Home


Our Homes and
Land for Sale


Investment
Analysis


View Our
Homes for Rent


Frequently
Asked Questions


Fair Market Value
of Your Home


Search Homes and
Land for Sale


Information
for Landlords


Search for Rentals
In Maryland


Real Estate
Careers


Request a Free
Market Analysis


Our Guide to
Buying a Home


Advertising
and Marketing


Application
Processing


Business
Directory


Advertising
and Marketing



Our Guide to
Buying Land



Properties
Under Our
Management


Information
for Tenants


Who is DMS
Properties, LLC


List of Our
Completed
Home Sales


Our Nationwide
Referral Network



How We
Manage Rental
Properties


List of Our
Rented Homes



Property
Preservation
Services


Real Estate
Document
Library


Our Guide
to Building a
Modular Home


Property
Management

Document Library

  Our Client
Appreciation
Program


The information contained on this site is maintained by DMS Properties, LLC ... Residential Real Estate Services.
We attempt to keep it current, but some delays may occur. To verify the most current information, contact us.

Red Bar