This Non-Exclusive Buyer Broker Agreement is designed for use in the Indonesian real estate market when a property buyer wishes to engage a broker's services while maintaining the freedom to work with other brokers. The document is particularly relevant in competitive property markets where buyers benefit from multiple broker relationships. It complies with Indonesian Civil Code requirements and relevant real estate regulations, including Minister of Trade Regulation No. 33/M-DAG/PER/8/2008 governing real estate services. The agreement details the scope of broker services, commission structures, property search criteria, and protection periods while incorporating necessary consumer protection provisions. It's commonly used in both residential and commercial property transactions, providing clear guidelines for the broker-buyer relationship while protecting both parties' interests under Indonesian law.
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1. Parties: Identification of the broker/brokerage firm and the buyer, including complete legal names and addresses
2. Background: Context of the agreement, including the buyer's intention to purchase property and the broker's services offering
3. Definitions: Key terms used throughout the agreement, including 'Property Requirements,' 'Broker Services,' 'Commission,' etc.
4. Appointment and Scope: Defines the non-exclusive nature of the appointment and scope of broker's services
5. Term and Termination: Duration of the agreement and conditions for termination by either party
6. Broker's Services and Obligations: Detailed description of services to be provided by the broker
7. Buyer's Obligations: Buyer's responsibilities, including providing accurate requirements and cooperating with the broker
8. Commission Structure: Details of broker's compensation, payment terms, and conditions for commission earning
9. Representations and Warranties: Standard declarations by both parties regarding their capacity and authority
10. Confidentiality: Obligations regarding confidential information shared during the engagement
11. Governing Law and Dispute Resolution: Specification of Indonesian law as governing law and dispute resolution procedures
12. General Provisions: Standard clauses including notices, amendments, and severability
1. Protection Period: Defines period after termination during which broker remains entitled to commission - include when requested by broker
2. Specific Property Interest: Used when buyer has identified specific properties of interest at the time of agreement
3. Multiple Broker Coordination: Include when buyer is likely to work with multiple brokers to detail coordination requirements
4. International Transaction Provisions: Include for foreign buyers or cross-border transactions
5. Force Majeure: Detailed force majeure provisions - recommended for longer-term agreements
6. Digital Communication Consent: Include when parties agree to use electronic communications for official notices
1. Schedule A - Property Requirements: Detailed specifications of the type of property the buyer is seeking
2. Schedule B - Commission Structure: Detailed breakdown of commission rates and payment terms
3. Schedule C - Broker's Services: Comprehensive list of specific services to be provided by the broker
4. Appendix 1 - Required Documents: List of documents required from buyer for property transactions
5. Appendix 2 - Broker's Credentials: Broker's licenses, certifications, and relevant qualifications
6. Appendix 3 - Power of Attorney: Optional template for power of attorney if needed for specific transactions
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Industrial Property
Retail Property
Hospitality
Corporate Real Estate
Investment Management
Banking and Finance
Relevant Teams
Legal
Real Estate
Procurement
Finance
Compliance
Risk Management
Corporate Development
Investment
Operations
Facilities Management
Relevant Roles
Real Estate Broker
Property Acquisition Manager
Chief Financial Officer
Legal Counsel
Corporate Real Estate Manager
Facilities Manager
Investment Director
Property Portfolio Manager
Real Estate Investment Analyst
Business Development Manager
Procurement Manager
Contract Administrator
Risk Management Officer
Compliance Officer
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