Exclusive Buyer Representation Agreement — Maryland Edition Template

Since the 2024 NAR settlement took effect, a written buyer representation agreement is no longer optional for most agents — MLS participants must have a written agreement with a buyer before touring a home, and that agreement must state the compensation the buyer's broker will receive, in an amount that is objectively ascertainable and not open-ended. This template is built for that new reality.

The Exclusive Buyer Representation Agreement establishes the brokerage as the buyer's exclusive agent for a defined term and geographic area, sets out the broker's fiduciary duties (loyalty, confidentiality, disclosure, obedience to lawful instruction, reasonable care, and accounting), and — most importantly — fixes the broker's compensation in writing: a flat fee, a percentage, or an hourly structure, with clear language on how seller-paid or listing-broker-paid amounts offset the buyer's obligation. It includes a protection period for properties introduced during the term, a retainer provision, dual agency/designated agency consent language, and clean termination mechanics.

This 5-page template includes the compensation disclosure language required under the settlement framework, plus a 50-state variation notes section covering states where buyer agency agreements have statutory content requirements (several states mandate specific disclosures, type-size requirements, or prohibit certain term lengths). Buyer agency itself is a creature of state agency and license law, so the notes flag where state forms or specific statutory language are mandatory. As with all templates in this library, it is a drafting starting point to review with your broker or attorney — not a guaranteed state-compliant form.

About this Maryland Edition: the template and its drafting notes are adapted for Maryland practice under the Maryland Real Estate Brokers Act, Md. Code, Bus. Occ. & Prof. Title 17, administered by the Maryland Real Estate Commission. Maryland permits dual agency only as broker-level dual agency with intra-company agents designated for buyer and seller, so the consent document in this edition is drafted as a Dual Agency / Intra-Company Agent Consent and pairs with the Commission's "Understanding Whom Real Estate Agents Represent" disclosure. The Seller Property Condition Disclosure is a supplemental instrument that references (and does not replace) the statutory Disclosure/Disclaimer statement required by Md. Code, Real Prop. § 10-702, and adds Maryland items such as private water and septic, pre-1978 rental lead registration, Chesapeake Bay Critical Area, and condominium/HOA resale disclosures. Electronic signatures are addressed under the Maryland Uniform Electronic Transactions Act, Md. Code, Com. Law Title 21. Not legal advice; have a Maryland-licensed attorney review before use.