Exclusive Buyer Representation Agreement — New Jersey 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 New Jersey Edition: the template and its drafting notes are adapted for New Jersey practice under the Real Estate Commission's rules — licensees must deliver the Consumer Information Statement (CIS) on real estate relationships before substantive discussions (N.J.A.C. 11:5-6.9), every listing, buyer-agency, and sales contract must include a declaration of business relationship identifying the firm's role, and disclosed dual agency requires the informed written consent of both parties. New Jersey also overlays the Law Against Discrimination (one of the broadest fair-housing statutes in the country), the New Jersey Real Estate Sales Full Disclosure Act for new/subdivision sales, and attorney-review practice for residential contracts. New Jersey-specific drafting notes accompany the template — they supplement, never replace, the mandatory CIS.