Which agreement is commonly used as a legal and binding contract for buyer representation?

The TAR Residential Buyer/Tenant Representation Agreement is specifically designed to establish a legal and binding relationship between a buyer and a real estate agent or broker. This agreement clearly outlines the obligations and responsibilities of both parties, ensuring that the agent represents the buyer's interests during the purchasing process.

Key elements typically included in this type of agreement are the scope of representation, the duration of the agreement, and the compensation structure for the agent. By signing this agreement, the buyer is committing to work exclusively with that particular agent, which helps to create a focused and effective partnership in finding and acquiring a property.

Other agreements mentioned here serve different purposes. For instance, the TAR Residential Lease Agreement pertains to rental transactions rather than property purchases, while the TAR Seller’s Listing Agreement and TAR Exclusive Right to Sell Agreement focus on representing sellers rather than buyers. Therefore, the buyer representation agreement is the most suitable choice for establishing a legal relationship for buyer representation in real estate transactions.