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Buyer Agency Form for Indonesia

Buyer Agency Form Template for Indonesia

A comprehensive legal document governed by Indonesian law that establishes and defines the professional relationship between a property buyer and their appointed real estate agent. The form outlines the agent's authority to represent the buyer in property transactions, detailing the scope of services, compensation structure, and mutual obligations. It incorporates specific provisions compliant with Indonesian real estate regulations, consumer protection laws, and the Civil Code, while establishing clear parameters for the agency relationship and property search criteria.

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What is a Buyer Agency Form?

The Buyer Agency Form is a crucial legal instrument in Indonesian real estate transactions that formalizes the relationship between property buyers and their chosen real estate agents. This document becomes necessary when a potential property buyer wishes to engage professional representation in their property search and acquisition process. The form, governed by Indonesian law including the Civil Code and relevant real estate regulations, comprehensively outlines the agent's authority, responsibilities, and compensation structure. It typically includes specific provisions for property search criteria, agent obligations, buyer commitments, and transaction processes. The document serves as both a legal protection mechanism and a practical guideline for the agency relationship, ensuring compliance with local regulations while facilitating effective property transactions.

What sections should be included in a Buyer Agency Form?

1. Parties: Identifies and provides full details of the buyer (principal) and the real estate agent (agent), including registration numbers and licenses

2. Background: Explains the context of the agreement, including the buyer's intention to engage the agent for property search services

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Appointment and Scope: Details the formal appointment of the agent and defines the scope of services to be provided

5. Agent's Rights and Obligations: Specifies the agent's duties, responsibilities, and rights in representing the buyer

6. Buyer's Rights and Obligations: Outlines the buyer's responsibilities, including providing necessary information and cooperation

7. Property Requirements: Specifies the buyer's requirements for the desired property, including type, location, and price range

8. Term and Termination: States the duration of the agreement and conditions for termination

9. Compensation: Details the agent's fee structure, payment terms, and conditions for earning commission

10. Confidentiality: Establishes obligations regarding confidential information shared during the engagement

11. Governing Law: Specifies that Indonesian law governs the agreement and relevant jurisdictional matters

12. Execution: Signature block and execution requirements

What sections are optional to include in a Buyer Agency Form?

1. Exclusivity: Optional clause establishing whether the agency relationship is exclusive or non-exclusive

2. Sub-Agents: Provisions regarding the agent's right to engage sub-agents, used when the agency might need to involve other professionals

3. Virtual Services: Provisions for virtual property viewings and electronic communications, relevant during pandemic conditions or for international buyers

4. Force Majeure: Provisions for unforeseen circumstances preventing performance, particularly relevant in uncertain times

5. Dispute Resolution: Detailed procedures for handling disputes, including mediation or arbitration options

6. Language: Provisions regarding the prevailing language when the agreement is executed in multiple languages

7. Insurance: Requirements for professional indemnity insurance or other relevant insurance coverage

What schedules should be included in a Buyer Agency Form?

1. Schedule A - Property Requirements: Detailed specifications of the buyer's property requirements including location preferences, size, amenities, and budget

2. Schedule B - Fee Structure: Detailed breakdown of all fees, commissions, and payment terms

3. Schedule C - Required Documents: List of documents required from the buyer for property transactions

4. Schedule D - Agent Credentials: Copies of agent's licenses, certifications, and professional memberships

5. Appendix 1 - Power of Attorney: Standard power of attorney form defining the scope of agent's authority

6. Appendix 2 - Code of Ethics: Reference to or copy of applicable real estate agent code of ethics

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

Indonesia

Publisher

Ƶ

Document Type

Agency Agreement

Cost

Free to use
Relevant legal definitions



























Clauses




























Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Management

Investment Services

Property Technology

Insurance

Professional Services

Relevant Teams

Legal

Real Estate

Compliance

Sales

Business Development

Risk Management

Operations

Property Management

Investment

Document Management

Client Relations

Transaction Processing

Relevant Roles

Real Estate Agent

Property Buyer

Real Estate Broker

Property Consultant

Legal Counsel

Compliance Officer

Contract Manager

Property Manager

Real Estate Director

Investment Manager

Business Development Manager

Sales Manager

Property Acquisition Specialist

Real Estate Transaction Coordinator

Risk Management Officer

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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