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Buyers Rep Agreement for Germany

Buyers Rep Agreement Template for Germany

A comprehensive legal agreement governed by German law that establishes and regulates the professional relationship between a buyer's representative and their client in property transactions. The document outlines the scope of representation, duties and obligations of both parties, compensation structure, and terms of service delivery. It incorporates relevant provisions from the German Civil Code (BGB) and Commercial Code (HGB), particularly focusing on agency relationships and real estate brokerage regulations. The agreement includes detailed clauses on confidentiality, liability, and compliance with German property and anti-money laundering laws.

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What is a Buyers Rep Agreement?

The Buyer's Rep Agreement is a crucial document used in German real estate transactions when a client seeks professional representation in property acquisition. This agreement is particularly important in the German market, where property transactions are heavily regulated and require strict compliance with local laws and regulations. The document serves to clearly define the scope of services, responsibilities, and compensation structure between the representative and the client. It includes specific provisions required under German law, including compliance with the BGB (German Civil Code) and relevant real estate regulations. The agreement is designed to protect both parties' interests while ensuring transparency in the representation relationship, making it essential for any professional property acquisition service in Germany.

What sections should be included in a Buyers Rep Agreement?

1. Parties: Identification of the buyer's representative and the client, including full legal names, addresses, and registration details if applicable

2. Background: Context of the agreement, including the client's intention to purchase property and the representative's qualifications

3. Definitions: Key terms used throughout the agreement, including 'Property Requirements', 'Territory', 'Commission', and 'Services'

4. Appointment and Scope of Services: Details of the representative's appointment and comprehensive list of services to be provided

5. Representative's Obligations: Detailed responsibilities including property search, negotiation, due diligence, and reporting requirements

6. Client's Obligations: Client's responsibilities including providing accurate requirements, timely responses, and necessary documentation

7. Exclusivity: Terms regarding whether the representation is exclusive or non-exclusive

8. Commission and Payment Terms: Structure and timing of payments, including base fees, success fees, and expense reimbursement

9. Term and Termination: Duration of the agreement, renewal terms, and termination provisions

10. Confidentiality: Obligations regarding confidential information and data protection

11. Liability and Indemnification: Extent of representative's liability and mutual indemnification provisions

12. General Provisions: Standard clauses including notices, amendments, governing law, and dispute resolution

What sections are optional to include in a Buyers Rep Agreement?

1. International Transactions: Additional provisions for cross-border property searches and purchases, including currency considerations and international law implications

2. Specific Property Type Provisions: Special terms for specific property types (commercial, industrial, residential) with unique requirements

3. Anti-Money Laundering Compliance: Detailed AML procedures and requirements, particularly relevant for high-value transactions

4. Digital Communications: Provisions for electronic signatures and digital communication protocols

5. Sub-Agents and Partners: Terms governing the use of sub-agents or cooperation with other professionals

6. Force Majeure: Provisions for unforeseen circumstances affecting performance of services

7. Insurance Requirements: Specific insurance obligations for either party

What schedules should be included in a Buyers Rep Agreement?

1. Schedule 1 - Service Level Agreement: Detailed breakdown of services, response times, and performance metrics

2. Schedule 2 - Fee Structure: Detailed commission calculations, payment schedules, and expense categories

3. Schedule 3 - Property Requirements: Client's specific property requirements, preferences, and search criteria

4. Schedule 4 - Required Documentation: List of documents required from both parties throughout the representation

5. Schedule 5 - Reporting Ƶ: Standard formats for property reports, viewing reports, and progress updates

6. Appendix A - Power of Attorney: If applicable, specific authorization for the representative to act on client's behalf

7. Appendix B - Compliance Checklist: Regulatory and due diligence requirements checklist

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Germany

Publisher

Ƶ

Document Type

Agency Agreement

Cost

Free to use
Relevant legal definitions






























Clauses








































Relevant Industries

Real Estate

Commercial Property

Residential Property

Industrial Property

Retail Property

Hospitality

Healthcare Facilities

Educational Facilities

Logistics and Warehousing

Mixed-Use Development

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Property Acquisition

Asset Management

Investment

Due Diligence

Corporate Development

Operations

Relevant Roles

Real Estate Agent

Property Buyer's Representative

Real Estate Broker

Property Acquisition Manager

Real Estate Investment Manager

Corporate Real Estate Manager

Property Portfolio Manager

Real Estate Legal Counsel

Compliance Officer

Risk Manager

Property Consultant

Asset Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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