Exclusive Buyer Representation Agreement — North Carolina 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 North Carolina Edition: the template and its drafting notes are adapted for North Carolina practice under the Real Estate License Law (N.C. Gen. Stat. Ch. 93A) — dual agency is permitted only with the written, informed consent of both parties under N.C. Gen. Stat. § 93A-6 and NCREC agency rules, the Residential Property and Owners' Association Disclosure Statement is mandatory for most residential sales under N.C. Gen. Stat. § 47E-1 et seq., and North Carolina's E-Sign framework (N.C. Gen. Stat. § 66-311 et seq.) validates electronic execution of these documents. North Carolina-specific drafting notes accompany the template for review before use.