Guidelines for using the Buyer-Broker Exclusive Employment Agreement

Below are general guidelines for completing this form. An attorney did not write these; we cannot accept responsibility for any misuse, misrepresentation, or misstatements. Use this guidance at your own discretion or consult with a legal or professional advisor for further assistance.

Important Tips for Adding Terms and Conditions

1. If your additional terms and conditions exceed the three lines provided on the Buyer Broker Exclusive Employment Agreement, consider the following:

   • Write the extended terms and conditions on a separate page.
   • Clearly title the additional page as an Addendum to the agreement.

2. On Line 78 of the Buyer Broker Agreement, reference the addendum by writing:
   “See attached addendum for additional terms and conditions.”

3. Ensure the addendum is signed and dated by both the buyer and the broker to confirm mutual understanding and agreement.

Clauses and Tips

Below are general terms, clauses, and considerations for use in the agreement. It is always recommended to consult a licensed real estate attorney or professional to ensure your documents are correctly prepared and legally compliant.

$10KGuarantee Clause

(Copy/paste as an attachment to the Buyer Broker Exclusive Employment Agreement)

• “The buyer’s agent guarantees services in accordance with the attached terms and conditions, with a maximum liability of up to $10,000

• Refund and Rebate Terms and Conditions

1. Eligibility Requirements for Refunds or Rebates

a. To qualify for a refund or rebate, the client must engage the services of a licensed real estate agent affiliated with 10KGuarantee.com and successfully close on the property with said agent.

b. The client retains the right to transfer representation to another licensed real estate agent within 10KGuarantee at any time prior to entering into a legally binding purchase contract.

c. Source of Funds:

• Refunds or rebates shall be issued exclusively from commissions received upon the successful completion of a transaction.
• No refund or rebate shall be provided from any other source, nor shall any refund or rebate be issued before the commission has been received.

d. Discrepancies or Disputes:

• In the event of any discrepancy or dispute regarding a refund or rebate, decisions shall favor the buyer’s request for such refund or rebate, unless otherwise determined by applicable laws or contractual terms.

e. Compliance with Arizona State Law:

• Pursuant to Arizona law, any rebate or monetary incentive offered by a real estate licensee must be processed through escrow.
• This requires explicit written instructions from the designated broker overseeing the transaction.
• Any request for a rebate must be submitted prior to the title company preparing the final settlement statements to ensure proper documentation and disclosure.

This policy is subject to all applicable real estate laws and regulations and may be modified as necessary to maintain legal compliance.

2. Maximum Refund or Rebate:

• The refund or rebate will be capped at 50% of the commission paid to the buyer’s agent.

• Refunds or rebates are limited solely to services provided by our real estate agents to the buyer.

3. Partial Refunds or Rebates:

• Partial refunds or rebates may be requested and will be considered at our sole discretion, based on the specific details of the transaction.

4. Request Submission Process:

• To request a refund or commission rebate, a written request must be submitted to both the buyer’s agent and the brokerage at least three (3) days before closing or before the title company prepares the final settlement documents, whichever occurs first.
• Requests made after this timeframe will not be accepted.

5. Scope and Limitations of the Guarantee

This guarantee applies exclusively to the services provided by our real estate agents during the home-buying process.

• It does not cover any property-related issues, including but not limited to structural defects, damages, or any other condition of the home.
• This guarantee excludes any decisions made by the buyer, including location, size, price or other particulars, regarding the home. 
• It does not extend to the services of third parties outside the agent’s control, such as loan officers, home inspectors, title companies, or other service providers.
• The guarantee is not intended as a discount on agent services but rather as a commitment to service excellence.
• In the event of a dispute regarding service quality, consideration will favor the client, as our primary goal is to foster trust and confidence in our agents’ services.

6. Commission Shortages:

• A shortfall in commission payments does not qualify for a refund or rebate under this guarantee. However, negotiations with your agent and broker may address these situations separately.

7. Disbursement of Refund or Rebate:

• The refund or rebate will be disbursed from the commission earned by the agent following the successful closing of the property. Where legally permissible and in accordance with lender regulations, the refund or rebate may be applied as a credit toward the buyer’s closing costs.

8. Acknowledgment and Agreement:

• By accessing this website and using our real estate services, you confirm that you have read, understood, and agreed to these terms and conditions.

• These terms may be updated at any time. Changes will apply only to future transactions and will not affect any agreements already in place.

9. Legal Compliance:

• This guarantee is provided in accordance with all relevant real estate laws and regulations in the state of Arizona. For legal advice or questions about these terms, please consult with a qualified real estate attorney.

Option to hire another agent from $10KGuarantee.com Clause

To ensure buyer satisfaction, the buyer may choose a different agent from this website at any time before entering into a legally binding contract.

• “The buyer retains the right to select a different agent from $10KGuarantee.com at any time prior to the execution of a legally binding purchase contract by all parties.”

Limited Out-of-Pocket Commissions Paid Clause

• Lines 62-63: “”The Buyer’s obligation to pay any additional compensation shall not exceed [percentage or dollar amount]. If the compensation provided by the Seller or Seller’s Broker falls short of the agreed-upon Buyer Agent fees, the Buyer’s liability will be capped at [percentage or dollar amount].

Specific properties agreement clause. Suppose you want to specify only certain properties. 

• “This employment agreement is exclusively for specific addresses listed below.”