{"id":36991,"date":"2020-01-28T12:18:24","date_gmt":"2020-01-28T10:18:24","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=36991"},"modified":"2025-05-22T13:09:36","modified_gmt":"2025-05-22T10:09:36","slug":"buyers-broker-agreements","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/","title":{"rendered":"Buyer&#8217;s Broker Agreements"},"content":{"rendered":"\n<p><strong><em>NYC-based&nbsp;boutique law firm&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/pnlawyers.com\/\" target=\"_blank\">Pardalis &amp; Nohavicka<\/a>&nbsp;brings the latest legal updates from the world of real estate to PropertyShark.&nbsp;Pardalis &amp; Nohavicka&nbsp;handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions,&nbsp;currently litigating and representing clients throughout the United States and around the world.<\/em><\/strong> <\/p>\n\n\n\n<p>When looking for the perfect property or home to buy, real estate brokers can be quite helpful. These brokers use their agency resources to help clients find exactly what they are looking for. <\/p>\n\n\n\n<p>In these cases, a buyer\u2019s\nbroker agreement is signed by the broker and the buyer to detail their\narrangement, which includes the broker\u2019s duties and obligations to the buyer.\nDepending on the buyer\u2019s needs, these types of agreements can be either <strong>non-exclusive<\/strong>\nor \u200b<strong>exclusive<\/strong> <strong>right-to-represent<\/strong>\u200b contracts:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>A \u200bnon-exclusive right-to-represent<\/strong> contract gives a buyer more options. For example, the buyer is allowed to hire more than one agency or broker, and can buy a property through another agent\/broker as long as it\u2019s not the same property shown by a different broker. In this situation, the broker does not have to be paid, but the agency will require compensation for its time and efforts; additionally, the seller is responsible for the broker\u2019s fees. <br \/> <br \/>Meanwhile, the buyer\u2019s agent \u2013 not the broker \u2013 enters the picture when the buyer needs help finding a home on their own, although the seller is still responsible for the agent\u2019s commission. While a seller\u2019s agent may have an agreement in place with the seller, once a buyer is represented by a broker, the commission to the seller\u2019s agent will be split. This type of contract can be beneficial to buyers because increased competition will motivate brokers to find them the perfect home or property.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>An \u200bexclusive right-to-represent<\/strong> is differentiated by the buyer\u2019s obligation to the broker. Specifically, the buyer may not hire another broker to work for them or terminate their contract without permissible cause prior to the end of the term of the agreement. The contract may also state who is responsible for paying the broker\/agent and whether that is in the form of an agreed-upon sum payment or percentage. This may not always be beneficial to the buyer because the buyer (or the seller, depending on the terms of the agreement) is responsible for paying a commission no matter whether the property was introduced by the broker. <\/li><\/ul>\n\n\n\n<p>In some instances, because the seller\u2019s agents know that they have to split commission with another broker, they may be inclined to sell the house to someone who will pay a lower purchase price but who is not represented; this way, the seller\u2019s agent will get their entire commission (by gaining another client) instead of just half.<\/p>\n\n\n\n<p>Depending on the reputation of certain agencies, individual brokers or the buyer\u2019s specific circumstances, it may be beneficial to explore the different types of broker representations to ensure the best agreement possible.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Authors:<\/strong><\/h4>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft\"><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/03\/PropertyShark-Taso.png\"><img decoding=\"async\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/03\/PropertyShark-Taso-150x150.png\" alt=\"Taso Pardalis\" class=\"wp-image-34836\"\/><\/a><\/figure><\/div>\n\n\n\n<p><em><strong><em>Taso Pardalis<\/em><\/strong>&nbsp;is a founding partner of the Law Offices of Pardalis and Nohavicka, a leading full- service NYC law firm with offices in Manhattan, Queens and WeWork. Taso may be a well-known attorney with many cases making headlines in major media outlets, but at heart, he is a true entrepreneur that believes in supporting the small business community. His areas of concentration are: Intellectual Property, Trademarks, Corporate, Business Law and Real Estate Law.<\/em><br \/>______________<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft\"><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/11\/Nataly-Goldstein.png\"><img decoding=\"async\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/11\/Nataly-Goldstein-150x150.png\" alt=\"Nataly Goldstein\" class=\"wp-image-36474\"\/><\/a><\/figure><\/div>\n\n\n\n<p><em>Real Estate and Corporate Transactions Attorney&nbsp;<strong>&nbsp;<a rel=\"noreferrer noopener\" href=\"mailto:nataly@pnlawyers.com\" target=\"_blank\">Nataly Goldstein<\/a>&nbsp;<\/strong>is a graduate of Cardozo School of Law, where she served as&nbsp;President of the Real Estate Law Association.&nbsp; She is experienced in both residential and commercial real estate transactions, as well as representing large banks, such as Wells Fargo and Citibank.<\/em><br \/>______________<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft\"><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/PropertyShark-Bio-Graphics.png\"><img decoding=\"async\" src=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/10\/PropertyShark-Bio-Graphics-150x150.png\" alt=\"Sofia Stefanou\" class=\"wp-image-36309\"\/><\/a><\/figure><\/div>\n\n\n\n<p><em><strong>Sofia Stefanou<\/strong>&nbsp;is a law clerk at Pardalis &amp; Nohavicka. She is currently a student at NYU\u2019s Schack School of Real Estate. Sofia is a member of NYU\u2019s Undergraduate Real Estate Club, Women in Real Estate Club, and Hellenic Heritage Association. She is currently a member of the real estate law team at Pardalis &amp; Nohavicka.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NYC-based&nbsp;boutique law firm&nbsp;Pardalis &amp; Nohavicka&nbsp;brings the latest legal updates from the world of real estate to PropertyShark.&nbsp;Pardalis &amp; Nohavicka&nbsp;handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions,&nbsp;currently litigating and representing clients throughout the United States and around the world. When looking for the perfect property&hellip;<\/p>\n","protected":false},"author":49,"featured_media":36994,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9499,328,796],"tags":[11172],"class_list":["post-36991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal","category-new-york-real-estate","category-how-to","tag-old-how-to"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Buyer&#039;s Broker Agreements - PropertyShark Real Estate Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buyer&#039;s Broker Agreements\" \/>\n<meta property=\"og:description\" content=\"NYC-based&nbsp;boutique law firm&nbsp;Pardalis &amp; Nohavicka&nbsp;brings the latest legal updates from the world of real estate to PropertyShark.&nbsp;Pardalis &amp; Nohavicka&nbsp;handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions,&nbsp;currently litigating and representing clients throughout the United States and around the world. When looking for the perfect property&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-28T10:18:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-22T10:09:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2020\/01\/Buyers-Broker-Agreements-PN-Lawyers.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Eliza Theiss\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Buyer's Broker Agreements - PropertyShark Real Estate Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/","og_locale":"en_US","og_type":"article","og_title":"Buyer's Broker Agreements","og_description":"NYC-based&nbsp;boutique law firm&nbsp;Pardalis &amp; Nohavicka&nbsp;brings the latest legal updates from the world of real estate to PropertyShark.&nbsp;Pardalis &amp; Nohavicka&nbsp;handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions,&nbsp;currently litigating and representing clients throughout the United States and around the world. When looking for the perfect property&hellip;","og_url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/","og_site_name":"PropertyShark Real Estate Blog","article_published_time":"2020-01-28T10:18:24+00:00","article_modified_time":"2025-05-22T10:09:36+00:00","og_image":[{"width":1920,"height":1280,"url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2020\/01\/Buyers-Broker-Agreements-PN-Lawyers.png","type":"image\/png"}],"author":"Eliza Theiss","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Eliza Theiss","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/","url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/","name":"Buyer's Broker Agreements - PropertyShark Real Estate Blog","isPartOf":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/#primaryimage"},"image":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/#primaryimage"},"thumbnailUrl":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2020\/01\/Buyers-Broker-Agreements-PN-Lawyers.png","datePublished":"2020-01-28T10:18:24+00:00","dateModified":"2025-05-22T10:09:36+00:00","author":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4"},"breadcrumb":{"@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/#primaryimage","url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2020\/01\/Buyers-Broker-Agreements-PN-Lawyers.png","contentUrl":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2020\/01\/Buyers-Broker-Agreements-PN-Lawyers.png","width":1920,"height":1280},{"@type":"BreadcrumbList","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/01\/28\/buyers-broker-agreements\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/"},{"@type":"ListItem","position":2,"name":"Buyer&#8217;s Broker Agreements"}]},{"@type":"WebSite","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#website","url":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/","name":"PropertyShark Real Estate Blog","description":"Market Reports for Real Estate Writers","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4","name":"Eliza Theiss","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=retro&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=retro&r=g","caption":"Eliza Theiss"},"description":"Eliza Theiss is a senior writer reporting real estate trends in the US. 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