Other

TXR 1503 — Termination of Buyer/Tenant Representation Agreement

This form provides a mutual, written termination of an existing Buyer/Tenant Representation Agreement between a client and a broker. It documents the effective termination date, any termination fee owed for services already rendered, and establishes a protection period during which the broker is still owed a fee if the client or a related party purchases or leases.

Source: TXR
Form Number: 1503
Category: Other
Revised: January 5, 2026

Used For

Residential Sales, RESIDENTIAL_LEASING

Form Outline

The TXR 1503 form is organized into the following sections:

  1. Notice
    States the critical requirement that both Client and Broker must sign for the termination to take effect.
  2. A. Prior Agreement
    Identifies the original Buyer/Tenant Representation Agreement by its approximate execution date so there is no ambiguity about which agreement is being terminated.
  3. B. Termination Date
    Specifies the exact date and time the agreement terminates. The termination takes effect at 11:59 p.m. on the stated date.
  4. C. Termination Fee
    Establishes a negotiated fee the client pays the broker for services already rendered. The fee is characterized as a reasonable estimate of damages for early termination and is separate from any protection period fees.
  5. D. Protection Period
    Creates a protection period after termination during which the broker is still entitled to a fee if the client or any related party purchases or leases property. The parties specify the end date, the fee(s) that apply (check all that apply), and whether the protection applies to any property in the market area or only to specifically listed properties (check one box only).
  6. E. Release
    Provides a mutual release of all obligations under the original agreement, except for the terms in this termination form and any provisions of the original agreement that expressly survive termination.
  7. Signatures
    Signature block for the broker (company name and the "By:" signatory) and up to two clients, each with a date.

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