Exclusive Buyer Representation Agreement — Michigan 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 Michigan Edition: the template and its drafting notes are adapted for Michigan practice under Article 25 of the Michigan Occupational Code (MCL 339.2501 et seq.), which governs broker, associate broker, and salesperson licensing and requires that all compensation flow through the employing broker, and under Michigan's agency disclosure statute, MCL 339.2517, which requires the written Disclosure Regarding Real Estate Agency Relationships before a client shares confidential information. Michigan permits dual agency only with the informed written consent of both parties and also recognizes designated agency, so this edition's agency document is a Dual Agency Disclosure & Informed Consent that offers designated agency as the alternative. Seller disclosure follows the Michigan Seller Disclosure Act (MCL 565.951–565.966), with the Seller's Disclosure Statement delivered before a binding purchase agreement and statutory purchaser rescission rights for late delivery. Electronic signatures rely on the Michigan Uniform Electronic Transactions Act (MCL 450.831 et seq.); commission agreements are drafted to satisfy Michigan's statute of frauds (MCL 566.132), and broker lien references are limited to the Commercial Real Estate Broker's Lien Act (MCL 570.581 et seq.). Michigan-specific drafting notes accompany the template for review before use.