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TXR 1502 — Commercial Buyer/Tenant Representation Agreement

This form establishes an exclusive buyer/tenant representation agreement for commercial real estate transactions. It defines the broker's and client's mutual obligations, the market area, commission structure (including multiple fee types), intermediary authorization, protection period, and other terms governing the commercial buyer-broker or tenant-broker relationship.

Source: TXR
Form Number: 1502
Category: Other
Revised: September 1, 2025

Used For

Commercial Sales, COMMERCIAL_LEASING

Form Outline

The TXR 1502 form is organized into the following sections:

  1. 1. PARTIES – 4. TERM
    1. PARTIES: the Client and the Broker, each with two name lines, an Address line, a City/State/Zip line and Phone / Mobile / Fax or E-Mail blanks. 2. APPOINTMENT: Client grants Broker the exclusive right to act as Client's real estate agent for acquiring property in the market area (no blanks). 3. DEFINITIONS: "Acquire", "Closing", "Market area" (3C — six lines) and "Property" (3D — the number of properties Client intends to acquire). 4. TERM: begins on a date and ends at the earlier of 11:59 p.m. on the end date or the closing of the last property.
  2. 5. BROKER'S OBLIGATIONS – 10. CONFIDENTIAL INFORMATION
    5. Broker's obligations, 6. Client's obligations, 7. Representations, 9. Competing clients and 10. Confidential information are printed with no blanks. 8. INTERMEDIARY (Check A or B only): A. Intermediary Status — Client authorizes Broker to act as an intermediary under one of the three printed alternatives; B. No Intermediary Status — Client does not wish to be shown or acquire any of Broker's listings. The printed Notice lists what Broker and Broker's associates may not disclose when acting as intermediary.
  3. 11. BROKER'S FEES
    A. Broker's fees under this agreement are as follows (check all that apply): (1) Commission — a percentage of the sales price (or an alternative) if Client purchases, and a percentage of all base rents plus the same percentage of checked items (or an alternative) if Client leases, with the Source of Commission Payment ((1) seller/landlord first or (2) Client pays); (2) Hourly Fees; (3) Advance Fee; (4) Client's Purchase of Property Leased by Client; (5) Renewals, Extensions, or Expansions of Property Leased by Client; (6) Construction; (7) Service Providers; (8) Other. B. Protection Period. C. Excluded Properties. D. County. E. Escrow Authorization. NOTICE: under Chapter 62, Texas Property Code, Broker is entitled to claim a lien against the Property to secure payment of an earned commission.
  4. 12. MEDIATION – 19. ADDITIONAL NOTICES
    12. Mediation, 13. Default, 14. Attorney's fees, 15. Limitation of liability, 18. Agreement of the parties and 19. Additional notices are printed with no blanks. 16. ADDENDA: A. Information about Brokerage Services (TXR-2501) and three "☐ ___" lines (B, C, D) for other documents that are part of this agreement. 17. SPECIAL PROVISIONS: open space with no ruled lines.
  5. Execution by Client and Broker
    Page 7, under CONSULT AN ATTORNEY. Client (name, two lines) with two signatory blocks — "By:", "By (signature):", "Printed Name:", "Title:" and "Date:". Broker (name), Broker / Company Name (two lines) and License No., then the signatory's "By (signature):", "Printed Name:", "Title:", "License No." and "Date:". Signature lines and the "Date" beside them are e-sign tabs placed when the document is sent.

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