Exclusive Buyer Representation Agreement — Tennessee 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 Tennessee Edition: the template and its drafting notes are adapted for Tennessee practice under the Tennessee Real Estate Broker License Act of 1973, T.C.A. § 62-13-101 et seq., and its broker-relationship provisions at T.C.A. § 62-13-401 et seq., administered by the Tennessee Real Estate Commission (TREC). Tennessee's default relationship is facilitator (transaction broker) status unless a written agency agreement is signed, so this edition's agency documents are drafted as the written agreements the statute requires; Tennessee permits disclosed dual agency with the informed written consent of both parties and authorizes designated agency under T.C.A. § 62-13-405, so the agency-disclosure document remains a Dual Agency Disclosure & Informed Consent that also presents the designated-agency and facilitator alternatives and references the required written Confirmation of Agency Status. Seller disclosure follows the Tennessee Residential Property Disclosure Act, T.C.A. § 66-5-201 et seq., electronic signatures rely on Tennessee's Uniform Electronic Transactions Act, T.C.A. § 47-10-101 et seq., and the statute of frauds at T.C.A. § 29-2-101 is referenced for land-sale writings. Tennessee-specific drafting notes accompany the template for review before use.