What must be indicated in an exclusive buyer agency contract in Indiana?

An exclusive buyer agency contract in Indiana must clearly indicate that it is an exclusive buyer agency agreement. This designation is crucial as it establishes the nature of the relationship between the buyer and the broker, ensuring that the buyer understands they are entering into a commitment where the broker represents only their interests in the buying process.

Indicating that the agreement is exclusive helps to prevent conflicts of interest that could arise if the broker also represents sellers in transactions. By clarifying this exclusivity, the contract ensures that the buyer can expect dedicated representation and loyalty from the broker, which is fundamental to their interests as the party looking to purchase a property.

While other aspects such as the commission structure, seller’s financial details, or listing prices might be relevant to the overall transaction or negotiation process, they are not specifically required to validate the exclusive buyer agency relationship. The primary focus is establishing and communicating the exclusive nature of the representation offered to the buyer.