Art Signing Contract Realtor Buy

Signing a contract with a realtor to buy a property is an exciting and important step in the home buying process. Big decision one taken lightly. This blog post, explore ins outs process provide information need make informed decision.

Hire Realtor?

Before we dive into the contract signing process, let`s talk about the importance of hiring a realtor. According to the National Association of Realtors, 88% of home buyers purchase their home through a real estate agent or broker. Realtors have the expertise and experience to guide you through the complicated process of buying a home, and can help you navigate the often murky waters of real estate contracts.

Understanding the Contract

When decide work realtor buy home, asked sign contract. Contract outlines terms agreement realtor, including scope services, length relationship, compensation receive. It`s important to carefully review and understand this document before signing.

Sample Contract Terms

Service Provided	Duration	Compensation
Property Search and Tours	6 months	3% purchase price
Negotiation and Closing Assistance	Negotiable	5% purchase price

Case Study: The Smith Family

Let`s take a look at a real-life example of how signing a contract with a realtor to buy a home can benefit a family. Smiths market new home decided work realtor. With realtor`s help, able find purchase dream home within 3 months. The realtor`s expertise and guidance were instrumental in making the process smooth and stress-free for the Smiths.

Signing a contract with a realtor to buy a home is a key step in the home buying process. Essential find realtor understands needs experience guide process. By carefully reviewing and understanding the terms of the contract, you can ensure a successful and enjoyable home buying experience.

Exclusive Agency Agreement for Real Estate Purchase

This Exclusive Agency Agreement for Real Estate Purchase (the “Agreement”) entered day [insert date] between [Buyer`s Name] (the “Buyer”) [Realtor`s Name] (the “Realtor”).

WHEREAS, the Buyer desires to engage the services of the Realtor to assist in the purchase of real estate; and WHEREAS, the Realtor is willing to provide such services to the Buyer;

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. Engagement Realtor
The Buyer hereby engages the Realtor to act as the exclusive agent for the purpose of assisting the Buyer in the purchase of real estate.
2. Realtor`s Duties
The Realtor shall use their best efforts to locate suitable real estate for the Buyer`s purchase, and to negotiate the terms of purchase on behalf of the Buyer.
3. Term
This Agreement shall commence on the date of signing and shall remain in effect for a period of [insert duration] unless earlier terminated by mutual agreement of the parties.
4. Compensation
The Buyer agrees to compensate the Realtor a commission of [insert commission percentage] of the purchase price of the real estate upon the successful completion of the purchase.
5. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [insert state/country].
6. Entire Agreement
This Agreement constitutes the entire understanding and agreement between the parties in relation to the subject matter hereof, and supersedes all prior agreements, understandings, and arrangements, whether oral or written, relating to the subject matter hereof.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

[Buyer`s Name]

______________________

[Realtor`s Name]