Dated:_____,_____________,20____
The parties agree as follows:
1. This agreement takes effect on signing and expires on_____,_________,20____
2. The broker
[Maximum Realty Ltd]
shall represent and assist the buyer,
_____________________________to purchase real estate in accordance with
the buyer's expressed intentions. The buyer agrees to work exclusively wirh the
broker during the term of this agreement. Should the buyer purchase real estate
through any other source during the currency of this agreement the buyer shall
pay commission to the broker at the rate set out in paragraph 3.
3. In representing the buyer, the broker shall act in the best interests of the buyer
and shall use good professional skill and judgement in finding a property and
negotiating a transaction in accordance with the buyer's instructions. In
consideration of these services, the broker shall be entitled to be paid a
commission as follows:
(a) Commissions shall be owing to the broker when the broker enters into an
offer to purchase and all 'subject to' conditions(also known as conditions
precedent) have been satisified.
(b) In most cases the seller of the property pays the broker's commission.
The broker agrees to attempt to negotiate any transaction on the basis
that the seller will agree to pay the commission owing to the broker.
(c) In the event that the seller does not agree to pay the broker's
commission, or in the event the buyer prefers to pay the brokers
commission directly, then the amount of commission payable to the
broker shall be ______% of the sale price of the property plus G.S.T.
(d) In the event that the seller and/or the listing broker agree to pay only a
portion of the broker's commission based on the rate set out in
subparagraph c, then the buyer shall pay the difference to the broker.
4. The buyer agrees to contact the broker and not the vendor or any other broker or
or real estate agent about any property available for sale including pursurant to any
advertisement, sign, open house or any other means of offering property for sale.
5. In the event the buyer enters into an offer to purchase within ninety(90) days of
the expiry of this agreement for any property, which was introduced to the buyer
during the currency of this agreement, the buyer shall be required to pay
commission to the broker at the rate set out above.
6. The broker may be placed in a situation of limited joint representation because
the broker also represents the seller of a property that the buyer is interested in,
or the broker represents another buyer that is interested in the same, or similar,
properties. The buyer acknowledges that, in these circumstances, the broker
may represent more than one party and the buyer may be asked to sign an
acknowledgement of joint representation, which will more fully set out the limits of
the broker's agency duties. In these circumstances the broker will also seek the
acknowledgement of joint representation from their other buyer/seller customers.
7. The buyer authorizes the broker that to use, disclose, and retain personnal information
provided for purposes relating to the real estate services provided by the broker
to the buyer including:
(a) locating, assessing, and qualifying properties for the buyer;
(b) advertising on behalf of the buyer;
(c) providing information as needed to third parties retained by the buyer to
assist in a transaction(e.g., financial institutions, building inspectors, etc).
(d) such other use of the buyers information as is consistent with the
services provided by the brokerage.
8. The buyer agrees that the sale and other related information regarding any
property purchased by him through the broker may be retained and disclosed by
the broker and the Manitoba Real Estate Association and its member boards(if
the property is listed on an MLS®system) for reporting, appraisal, and statistical
purposes.
9. The parties agree to act honestly and in good faith with each other.
Signed by the parties______day of____________________,20_____.
__________________________
__________________________
Witness
Buyer
__________________________
__________________________
Witness
Buyer
__________________________
__________________________
Maximum Realty Ltd
Print Name
(by it's authorized representative)